The Chinese government is drafting a plan to raise the tax rebate for some steel products to boost exports, as steel demand weakens locally and world wide, an industry official said late Thursday.

The increase in the tax rebate hike will focus on high value-added steel products, said Shan Shanghua, secretary of the China Iron and Steel Association, on the sidelines of an industry forum.

Hit by the global financial crisis, China's total exports of steel products in the January-September period fell 2.1% on year to 48.5 million tons.

"The Ministry of Finance will have the final say on when to launch the move," said Shan, when asked by reporters when the government would implement the new policy.

During 2006-2007, China stopped giving export tax rebates for most steel products as part of its efforts to slow exports of products requiring high levels of energy in production.

China announced Tuesday it would raise rebates on more than a quarter of taxable goods in customs, including textiles and toys, from Nov. 1.

The country's economic growth in the third quarter fell to around a five-year low, and the government has pledged to step up fiscal support and launch more pro-growth measures.