Chinese government will eliminate or cut tax rebates for more than 2,800 export items from July 1 - in the boldest move yet to rein in exports since it joined the World Trade Organization in 2001.

The affected items account for 37 percent of all export products, the Ministry of Finance announced yesterday.

Based on Healthoo.com's statistic, the tax rebates of pharmaceutical materials (including APIs) under 46 tax numbers (numbers beginning with 29 ) should be cut down and the new tax rebates would be 5% for most products. The relevant products inlclude most pharmaceutical materials. But the tax rebates of antibiotics and vitamins (numbers respectively beginning with 2941 or 2936) shouldn't change. The export of antibiotics and vitamins take up most share in the export of all pharmaceutical materials, so the impact for Chinese export of pharmaceutical materials is not as big as expected.