China to adjust taxes further to balance trade

BEIJING, June 13 (Reuters) China will keep tweaking its import and export tax policies to help bring down the country's bulging trade surplus, Yao Shenhong, a Commerce Ministry spokesman, said on Wednesday.

''In future we will launch a series of measures to improve import and export tax policies to try to balance our trade,'' Yao told a regular news conference.

He had been asked whether further adjustments would come into effect on July 1, as rumoured in some circles.

On June 1, Beijing began imposing taxes of between 5 and 10 percent on exports of more than 80 types of steel products. It has also recently reduced or scrapped value-added tax rebates on a range of energy-intensive products.

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