BEIJING, June 20: China is to slash tax incentives for thousands of exports ranging from toys to cement, but analysts said on Wednesday the move could hit consumers rather than puncture the ballooning trade surplus.

From July 1, China will remove or cut rebates for more than 2,800 items to curb the excessive growth in exports, ease frictions with its trading partners and slow energy-intensive industries, the finance ministry said on Tuesday.—AFP