Home / Knowledge / News / Textiles / Export tax rebate of T&G sector to increase from April
Export tax rebate of T&G sector to increase from April
27
Mar '09
Premier Mr Wen Jiabao chaired an executive meeting of the State Council on March 25. The meeting examined and approved in principle the views of all, on speeding up the development of Shanghai's modern service industry and advance manufacturing activities as well as build an international financial center and a big modern port.

The meeting also decided that from April 1, 2009 onwards, the state will increase export tax refund rates for textiles, garments, light industry, iron and steel, nonferrous metals, petrochemicals and electronic information products, but the meeting did not announce the specific increase of the export tax rebate rate.

According to export data released by the General Administration of Customs, in February, China's exports dropped 25.7 percent from the same period last year. The export figures have not only declined for four consecutive months, but also set the largest one-month drop in history from the Chinese export industry.

In January and February, China's foreign trade which includes imports and exports registered US $266.77 billion, a year-on-year decrease of 27.2 percent. Of this exports touched $155.33 billion, down 21.1 percent and imports $111.44 billion.

Beginning from the second half of 2008, the Chinese government has increased export tax rebate rate on five separate occasions and the latest to take place in April, will be the sixth adjustment. According to government sources, export tax rebate rate for textile and garment is very likely to increase to 17 percent.


Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Steve Cole
Xerium Technologies

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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