Home / Knowledge / News / Textiles / Export rebate rate on textile re-adjusted again
Export rebate rate on textile re-adjusted again
20
Nov '08
The executive meeting of the State Council, held on November 19, discussed and identified 6 policies and measures to promote healthy development of the textile industry.

Officials from Department of International Cooperation, Ministry of Industry and Information Technology, China divulged to Fibre2fashion that these steps included further reducing tax and fee burdens of enterprises, as well as increasing export tax rebate rate on textiles, clothing and some light industrial products. The meeting has approved the proposal to lift export tax rebate rate on textile and garment up to 17 percent.

This is the fourth time that China has raised export tax rebate rate on commodities in the second half of this year. The same was done just one week after the last executive meeting, expressing great concern for ailing textile and other labor-intensive industries.

The meeting also decided to suspend the policy of security margin for light and textile processing trade. The state will make full use of foreign trade development fund from the central government to support marketing, research and development, consolidation and mergers among light and textile enterprises.

On July 31 this year, Government increased export tax rebate rate on textile and garments from 11 to 13 percent and again on October 21, the rate was advanced to 14 percent. Now, with this latest planned adjustment, China's export tax rebate rate for textiles will reach a record high.

Customs data show that China's textile and garment exports reached US $153.710 billion in the first 10 months of this year, up 8.6 percent year-on-year, but growth rate fell 12 percentage points from the same period last year.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Larry L Kinn
Suominen Corporation

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

Marten Alkhagen
Swerea IVF AB

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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