Home / Knowledge / News / Textiles / Textile Industry pleas for re-adjustment of export tax rebates
Textile Industry pleas for re-adjustment of export tax rebates
30
Apr '08
According to National Bureau of Statistics, from January to November 2007, 10,089 enterprises related to cotton spinning earned nearly 720.2 billion yuan, an increase of 23.54 percent from the same period of 2006.

The profits of industry reached almost 28.2 billion yuan in 2007, a rise of 42.7 percent in comparison to same period of 2006. Industrial annual profits touched 30 billion yuan, margin rate was 3.93 percent, with a slight growth of 0.53 percentage points.

Under the context of speeding Renminbi revaluation, Textile Industry Association hopes that the Government will consider re-adjustment of export tax rebates, if not lower them. As many local units are finding it difficult to operate under such circumstances.

Cotton textile enterprises have largely criticized slide-tax on imports. The annual demand gap of cotton is 4.5 million tons, import quotas only cover 9,00,000 tons. One ton of imported cotton will add 2,000 yuan in cost under slide tariff system.

In addition, cotton spinning industry has repeatedly called for abolition of the policy regarding tariff-free on value-added tax for automatic winder and air-jet loom imports. Experts believe that, this policy will slow down the pace of technological progress of textile sector.

Previously the Government did not take entrepreneurs advice while making policies. However, the establishment of Ministry of Industry, is seen as a ray of hope by the people associated with this sector, as institutional reforms are anticipated to take place.

In 2007, China had cut tax rebates on exports from 13 percent to 11 percent, so the people associated with textile are expecting a positive response from the authorities this year also.

Fibre2fashion News Desk - China


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search