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Footwear industries in Shishi to reap gains from rebates
28
Nov '08
Export-oriented enterprises in Shishi City have closely taken note of another major positive message from the government that it will raise export drawback of value-added tax on 3770 products. Shishi's footwear manufacturing industry is displaying a sense of euphoria about the new policy of increasing export tax rebate rates

The state has progressively increased the export drawback rates three times this year, which has had a positive impact on leading industries in Shishi City. In the first 10 months of this year, value of footwear export from Shishi City touched Yuan 1.03 billion, an increase of 67.7 percent from the same time last year. There is only one month left for 2008, but footwear exports from Shishi City will reap a gain of at least Yuan 2 million due to the increase in the rebate.

In October, the industrial output value of medium and big footwear enterprises in Shishi amounted to Yuan 5.31 billion, a year-on-year rise of 21.1 percent and sales figures matched production figures in reaching Yuan 5.33 billion, a 22 percent increase year-on-year. Over the past two years, the EU has imposed 16.5 percent of punitive tariffs on Chinese leather shoes, due to which footwear shipments have been greatly affected.

At present, 20 percent of all footwear production is earmarked for exports and the industry is putting all efforts to raise this figure to 30 percent in the near future. Shishi's shoe industry believes that crisis represents both pressure and challenge. It is predicted that the industrial output value of medium and big footwear enterprises in Shishi will exceed Yuan 6 billion this year to set a new record.

Fibre2fashion News Desk - China

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