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'Fur City'- Biggest trading centre for water mink clothing
19
Dec '08
The Ministry of Finance, State Administration of Taxation has issued the "Adjustment notice of export tax rebate rate on part commodities" due to which export tax rebate rates on leather clothing, fur clothing, fur accessories and other fur products increased from 5 percent to 11 percent.

Since the beginning of formal operations of China Fur City on October 27, 2007, nearly 300 fur brands from Hong Kong, Guangzhou, Shenzhen, Haining have opened or relocated their facilities in the city while well-known fur enterprises from Germany, France, Finland and other countries have established business offices here. Fur enterprises from Italy and other countries have also set up production bases nearby.

Chinese fur city has attracted more than 5 million buyers from domestic and foreign markets who come to purchase fur products each year. At present, fur clothing and apparel accessories trade volume in Yuyao market accounts for nearly 15 percent of the world's total trade volume, becoming the world's largest distributing center of water mink clothing.

This increase of export tax rebate rate on fur garments has been implemented for the first time since the introduction of foreign trade policy of reducing export tax rebate rate in 2006.

Fibre2fashion News Desk - China

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