China says export tax rebates to be paid by central government from now on, not local governments

[BEIJING] China's State Council said that the central government will assume responsibility for paying export tax rebates effective Jan 1, instead of local governments, in a statement on the official government website www.gov.cn on Tuesday.

Local governments will calculate the amount of export rebates they paid out in 2014, then pay the same amount directly to the central government in 2015, which will handle the actual rebate payments to companies.

The move will allow the central government more control over export rebates, which have proven a subject of friction with its trading partners.

REUTERS