Home / Knowledge / News / Textiles / Govt mulls over new policies to aid textile industry
Govt mulls over new policies to aid textile industry
19
Aug '08
Mr Zhu Hong Ren, Director General of Operation Monitoring and Coordinating Bureau of the Ministry of Industry and Information, recently made a statement that apart from the two percent increase of export tax rebate on textile and garment, there are still a number of proposed policy measures in the course of development and study which includes, credit, taxation, policies to support and assist SMEs and encourage enterprises for independent innovation.

Three of the most critical problems being faced by the textile industry include RMB appreciation, increase in labor costs and lack of capital funds due to economic downturn and rising costs. Experts believe that while the first two factors are difficult to change since they are the trend of times, the problem of finance can still be dealt with by means of Government support.

Wioth regard to this, the central bank had released credits totaling to 230 billion yuan with conditions mainly pertaining to the SMEs who are more in need to ease their financial crisis.

In particular, loan increase of the four major state-owned banks and joint-stock commercial banks is 5 percent which will be catered as special loans for SMEs. Besides, those granted by other local financial banks and institutions is at 10 percent.

However, the textile industry has not been very satisfied with the policy since the actual amount of money flowing into the export oriented SMEs is not much and there are still a number of enterprises who are finding it difficult to get required loans from the banks.

Fibre2fashion News Desk - China

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Steve Cole
Xerium Technologies

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

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search