|Chinese official announced on the 5th, since February 1, 2009 will textiles and clothing export tax rebate rate increased by one percentage point to 15 percent. This is since 2008, China's third improve textiles and clothing export tax rebate rate.
Consideration of a State Council executive meeting yesterday and approved in principle the adjustment of the revitalization of the textile industry planning, the textile industry to increase the taxation of financial support. Chinese textile industry are an important labor-intensive industries, more than 20 million workers directly and indirectly involved in the employment of hundreds of millions mouth.
Affected by RMB appreciation, rising costs and other factors, since last year, many textile enterprises, production and management have difficulties. Especially after the third quarter, with the international financial crisis-affected depth, the Chinese textile industry orders sharply, closing down enterprises increased production, small and medium-sized serious layoffs.Textile exports showed a growth trend of decline, according to Ministry of Commerce estimates that this year the industry as a whole will continue to slowdown in export growth.
It is understood that the adjustment of tariff lines involving a total of 3325. Analysis of institutions here believe that the export tax rebate rate increase in the export enterprises to reduce costs and increase the enterprise's ability to price for orders, to a certain extent help to boost the sluggish export growth. However, because of poor global economic conditions, continued weak demand, the export tax rebate policy increases the effect of or greatly reduced.
The Chinese frequently raise the export tax rebate rate, foreign media have pointed out that the Chinese are the subsidies for the textile industry. In this regard, Ministry of Commerce said that the export tax rebate on exports of goods production and circulation in the domestic aspect of the collection of VAT and consumption tax to be offset or refund.Export tax rebates in line with WTO rules, but also international practice.