TOKYO -- China is ramping up its use of tax refunds and other "hidden" subsidies for electric vehicles and other strategic businesses in an effort to give them a competitive edge in world markets, according to many experts. China's total annual tax rebates to major mainland companies rose 400% over the decade up to 2023, fueling their export to the U.S. and Europe.
Beijing offers many Chinese companies tax rebates and other types of indirect financial support to help them build share in global export markets.
Datawatch
China's 'hidden' subsidies fuel export onslaught
Total annual tax refunds to companies rise 400% over 10 years
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