Ｅｘｐｏｒｔ Ｒｅｂａｔｅ Ｕｐ－ｔｕｎｅｄ ｔｏ １３％

Instead of on July 1st as many forecast experts had anticipated， thenew policy for export VAT's rebate rate for textile and apparel to changefrom 11% to 13% went immediately into force on August 1 shortlyafter its announcement on July 31 by Ministry of Finance and StateAdministration of Taxation (SAT)， only one week away from the grandopening of the 29th Olympics Summer Games.