China hikes tax rebates for aqua-exports

China's central government announced Tuesday  (October 21, 2008) that tax rebates for export of aquatic products will increase from 9 percent previously to 13 percent.

The products mainly includes tilapia and other frozen fish, smoked fish, crustaceans animals, cold, dry cuttlefish, squid, octopus.

Fresh or frozen boneless beef is also included on the list of products eligible.

The TtThe increment of tax rebates would help raise profitability for export processing enterprises.

The higher rebates would help enterprises that have higher proportion of exports and lower profit margins.

Given these factors, the first three of which were beyond the control of the industry, a lifting of the export tax rebates would hardly be able to halt the slide in seafood export volumes.