Govt boost for light, petrochem

The government approved a slew of measures, including hikes in export tax rebate and credit support, to help the light and petrochemical industries. The move is expected to spur economic activity to beat the effects of the global financial crisis.

The State Council, or the Cabinet, approved the stimulus package for the two industries at an executive meeting yesterday.

The light industry, which covers sectors such as food, home appliances and paper-making, is vital as it creates large job opportunities, the State Council said in a statement.