The Ministry of Commerce (MoC) announced that China would maintain stimulus policies in 2010 aimed at boosting export industries, state media reported. Exports fell 1.2% in November. "Practice has proved that the policy mix to stabilize external demand is timely and effective. It has boosted market confidence and facilitated the steady recovery of foreign trade," the MoC said in a statement. China raised or reintroduced tax rebates for exports in response to the global economic crisis. It had previously lowered or eliminated rebates, particularly in low value-added and energy-intensive industries that in many cases were only profitable due to the rebates. In its announcement, the MoC said government incentives should be more flexible and targeted.
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