China hits exporters where it hurts

In an effort to curb its ever growing trade surplus to help ease increasing pressure to revalue the yuan, China will cut tax rebates on exports of low-value-added, high-energy-consuming, resource-intensive and environmentally harmful products, Chinese officials say.

The as-yet-unreleased policy is scheduled to take effect around September or October despite strong protests from domestic companies and traders, according to Caijing, a leading business magazine based in Beijing.
Asia Times