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Fujian footwear industry gets subsidy
Jan '08
The Government officials of Fujian Province declared that they will soon introduce a series of policies to support foreign trade in the region. The authorities will provide funds for both importers and exporters of footwear enterprises, to help setting up factories outside China.

This will help traders for promoting their independent brands, e-commerce and exhibit their products overseas.

The provincial Government has decided to provide greater support to those who will set up trade outlets and factories in overseas markets. Although, the authorities are still thinking over the final amount of subsidy.

According to reports the qualified enterprise can get as much as 100,000 yuan of financial support for each outlet or factory they apply for.

Till the end of 2007, Fujian Province had approved 577 offshore enterprises (including overseas offices). Most of the projects are located in more than 60 countries in Asia, Europe, Africa, North America, South America, Oceania and regions. Some of the newly approved ventures are distributed in five countries of Sudan, Cote d'Ivoire, Ethiopia, Ghana and Chile.

If one goes by available reports, it can be observed that private enterprises have played an active role in setting up offshore units.

Fibre2fashion News Desk-China

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