China mulls export-tax rebate increase

China may raise the export-tax rebate on high-tech products, electronics and machinery, Dow Jones reported, citing two anonymous sources familiar with the matter. The proposal, which still requires State Council approval, would see the tax rebate rate lift by between 4 to 8 percentage points on most of these products. An export-tax rebate would lower costs for exporters who are facing weakening export demand. If approved, the measure would be the latest in a string of fiscal-policy measures – such as a reduction of banks’ benchmark lending rates – meant to shore up economic growth.