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

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Divvya and Nidhhi Gambhir
Walnut

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

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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