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New policy for textile machinery, boon or curse?
19
Jan '08
In order to support Chinese textile machines manufacturers, the Government, in July last year, issued a new policy regarding import of textile machines, according to which enterprises must pay tax when they ship-in the automatic winding machines and air-jet looms.

Since the implementation of this policy, statistics show that sale of textile machines has gone down considerably. At the same time, textile machine manufacturers also complained that this law has aggravated the competition within them.

According to an official from Jinwei Textile Machinery Co Ltd, since last October the sale of automatic winding machines has decreased by around 200 sets, however, the demand of this kind of equipment in Chinese market is much more than that.

In addition, experts suggest rapid development of textile machinery is much required in the present scenario, as this new policy presents both pros and cons, for the textile industry of the country.

Fibre2fashion News Desk - China

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