ECONOMY

Export Rebate

China raised export rebate rates for 1,464 types of products starting on March 20.

The rebate rate for 1,084 products including ceramic sanitary ware was increased to 13 percent, and that for 380 goods including plant growth regulators to 9 percent, according to the Ministry of Finance and the State Taxation Administration.

Higher export rebate rates will facilitate foreign trade by lowering operating costs and easing cash shortages for manufacturers, Li Xuhong, a professor at the Beijing National Accounting Institute, said.

Bank Profits

A majority of listed banks reported robust net profit growth in 2019, Economic Information Daily said on March 17.

As of March 16, 24 of the 36 listed banks on the A-share