China to reduce tariffs, improve export tax rebate policies

FILE PHOTO: Containers are seen at a port in Lianyungang, Jiangsu province, China June 10, 2019. REUTERS/Stringer

BEIJING (Reuters) - China will stabilize trade by reducing tariffs, improving export tax rebate policies and cutting insurance fees for export companies, state television reported on Wednesday, citing a state council meeting chaired by Premier Li Keqiang.

“We will improve our reserve of policy tools and roll the measures out at the right time,” state television quoted those at the meeting as saying.

China is locked in a bruising trade war with the United States, which has led to retaliatory tariffs on hundreds of billions of dollars of each other’s goods.

Reporting by Yawen Chen and Se Young Lee