BEIJING is implementing a plan to accelerate the payment of tax rebates to companies that export through Shanghai to boost the city's role as an international shipping centre.
Exporting via Shanghai's Yangshan terminal will win tax rebates as soon as cargo leaves feeder ports like Nanjing, Suzhou, Lianyungang, Wuhu, Jiujiang, Qingdao, Wuhan and Yueyang, said Reuters.
Until now, the policy applied only to Qingdao and Wuhan.
"It's good for exporters because they can get their money back earlier, which is positive for their cash flow," said Han Ning, a China-based shipping consultant with Drewry Maritime Research. 
The Ministry of Finance, the General Administration of Customs and the State Administration of Taxation, which made the announcement said only companies with strong records for paying taxes will qualify for rebates.