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China Cuts Export Rebates

By Staff -- Purchasing, 7/14/2007

China said it will reduce export rebates on 2,831 products to curb the country's record trade surplus, ease friction with other countries and spur industries to use less energy. China has cut export rebates three times this year. The Chinese tax bureau in April reduced tax breaks on seven products, including stainless steel and cold-rolled coils. On March 28, China eased import rules for 338 products, including steel and plastics, to forestall trade disputes that may come from the nation's record surplus.

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