Home / Knowledge / News / Textiles / Five time increase in drawback rates helps stave off dip in exports
Five time increase in drawback rates helps stave off dip in exports
13
Mar '09
To deal with the complex and ever-changing economic turmoil at home and in overseas markets. China has consecutively increased export tax rebate rates on textiles and garment, machinery and electronics, steel, chemical products five times in the last few months.

According to customs statistics, in January this year, the total merchandise exports from sectors involved in the those increases of export tax rebate rate reached US $48.55 billion and accounted for 53.7 percent of China's total export volume over the same period.

Merchandise exports of general trade of sectors associated with increase in drawback rates touched $28.09 billion, a slight decrease of 1 percent and accounted for 57.9 percent of China's total export, while merchandise exports of processing trade marked US $17.31 billion, down 25.5 percent.

Due to reduced working days in January, from amongst the main sectors, which benefitted from the hikes in drawback rates, the traditional labor-intensive textile industry exports declined 11.9 percent while that of plastics exports slightly decreased by 0.4 percent.

On the other hand, exports of clothing and accessories registered $10.42 billion, an increase of 5.9 percent; footwear exports scored $2.91 billion, up 10.6 percent; exports of furniture and parts realized $2.13 billion, an increase of 0.7 percent; bags exports fetched $1.15 billion, an increase of 8.3 percent.

In January this year, mechanical and electrical products which had its duty drawback rates increased three times reached $19.82 billion, down 21.6 percent. Excluding Chinese New Year factors, January exports of machinery and electronic products also realized a slight increase of 1.5 percent year-on-year.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rahuul Jashnani
Jashn

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

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Vikas Banduke

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

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

Rupa Sood and Sharan Apparao
Nayaab

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

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

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

October 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
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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