Home / Knowledge / News / Textiles / 'Textile export goods should apply for zero rating' – Mr Jinahua
'Textile export goods should apply for zero rating' – Mr Jinahua
22
Apr '09
Mr Lu Jianhua, Assistant Minister of Commerce
Mr Lu Jianhua, Assistant Minister of Commerce
The Chinese Assistant Minister of Commerce, Lu Jianhua expressed at a press conference on the sidelines of the China International Garment Textile Expo 2009 in Dalian, that after the introduction of a series of supportive policies for China's textile industry, the textile industry has shown signs of improvement.

But, he said, the situation is still grim due to weak external demand and the Ministry of Commerce is working with relevant government departments and was reviewing the situation closely and new policy measures will be determined on the basis of the situation prevailing at that juncture.

He said, at present China's textile export tax rebate rate is only 16 percent, while value-added tax (VAT) is 17 percent, therefore, he added by saying that goods meant for export, should apply for zero-rating according to international practice.

He said, “Volume of business at the ongoing Canton Fair has, but still had a ray of hope considering the number of enquiries that had been generated though conversion rate was going a bit slow and that his ministry was keeping a close eye on the same and any follow-up support policies for the textile industry will depend on the situation.

When asked about the problems of financing difficulties faced by foreign trade enterprises, Lu Jianhua said that the Ministry of Commerce is communicating with the CBRC and other related departments and the current plight and difficult position would soon be alleviated.

Fibre2fashion News Desk - China


Must ReadView All

UK retail firms urge Hammond to ease business rates burden

Textiles | On 20th Nov 2017

UK retail firms urge Hammond to ease business rates burden

Top British retail company CEOs have urged UK finance minister...

L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)

Textiles | On 20th Nov 2017

Promoters of Donear Group acquire OCM Woolen Mills

The promoters of Mumbai-based Donear Group have announced the...

Courtesy: Cornell

Textiles | On 20th Nov 2017

Cornell’s tech allows customisation of woven fabrics

Cornell Professor Steve Marschner and Rhode Island School of Design...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Steve Cole
Xerium Technologies

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Suresh Patel
Sidwin Fabric

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

Yash P. Kotak
Bombay Hemp Company

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

November 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
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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