China to scrap gasoline export tax rebate

China will suspend its export tax rebate on gasoline between Sept 1 to Dec 31 in a bid to ward off domestic shortages by making it more expensive to ship petroleum products overseas, according to media reports. Petroleum product exports have been growing this year because ceilings on state-set pump prices have led to deepening domestic losses for China's refiners and have pushed them to seek overseas markets to take advantage surging global oil prices.