Home / Knowledge / News / Textiles / 'More corporate & individual tax cuts in offing' - Finance Minister
'More corporate & individual tax cuts in offing' - Finance Minister
Mar '09
Mr Xie Xuren, Finance Minister
Mr Xie Xuren, Finance Minister
The Finance Minister of China, Mr Xie Xuren, while addressing the National People's Congress, announced that, China is expected to cut corporate and individual taxes by around US $73.21 billion in 2009, in an effort to kick-start the economy

In the last few months China has implemented several measures to boost the sagging economy like increasing duty drawback rebates four times, procurement of cotton among many other incentives to revive the economy.

China also reformed the structure of value added tax to lower cost of companies purchasing machinery and equipment and all the tax schemes are in line with a positive fiscal policy, which envisages more public spending.

The four time increase in export duty drawbacks, implemented in the last few months have immensely helped the textile and garment industry to survive through the crisis and help reduce direct impact of the economic crisis.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

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

Steve Cole
Xerium Technologies

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search