China has unveiled its plans to support exports by encouraging banks to boost lending, expanding export credit insurance and increase tax rebates for some companies, as the country seeks to bolster growth. The government said on Tuesday that it would provide a total of $45 billion in loans over three years through state-owned banks, state companies and other financial institutions. Furthermore, it is looking to increase investment in its transport system in poorer areas so as to encourage investment in those provinces. This move follows data that China's exports in March returned to growth for the first time in nine months, igniting hopes of a potential stabilisation of its economy; this rebound is considered to be fuelled by a rise of new debt, particularly in factory activity, investment and household spending.
China has unveiled its plans to support exports by encouraging banks to boost lending, expanding export credit insurance and increase tax rebates for some companies, as the country seeks to bolster growth. The Beijing Government has said that it will also implement proactive import policies, supporting imports of advanced technology and equipment. Furthermore, it is looking to increase investment in its transport system in poorer areas so as to encourage investment in those provinces. This move follows data that China's exports in March returned to growth for the first time in nine months, igniting hopes of a potential stabilisation of its economy; this rebound is considered to be fuelled by a rise of new debt, particularly in factory activity, investment and household spending.