Home / Knowledge / News / Textiles / 'More corporate & individual tax cuts in offing' - Finance Minister
'More corporate & individual tax cuts in offing' - Finance Minister
07
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

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search