Home / Knowledge / News / Textiles / Cotton spinners now operating ginneries
Cotton spinners now operating ginneries
08
Jul '10
Cotton price has been on sharp rise this year, making it difficult for inland cotton spinning enterprises to buy cotton. A few cotton spinning enterprises have built ginning factories in Xinjiang and have already signed contracts with local farmers at 7.2 Yuan / kg as bottom purchase price, to ensure regular supply of cotton.

Vice President of China Textile Industry Association, Xu Wen-Ying, points out that cotton price has been on the rise since last October and had reached 14,833 Yuan / ton by the end of last year. As of June 30 this year, domestic stock index for cotton grade 328 marked 18,309 Yuan / ton, up 42.6 percent year on year.

At present, the upward trend in cotton is still continuing and cotton price has increased by more than 8,000 Yuan / ton, compared with the early time last year. After the state authority issued 800,000 tons of import quotas in May, cotton price still continues to rise. Imported cotton price has increased from 15,000 Yuan / ton to 19,000 Yuan / ton.

Xu Wen-Ying also suggests that value-added tax rates on input and sales of cotton textile enterprises should remain the same. He says that tax reforms undertaken in 1994, provides for 13 percent tax rate on cotton input, and 17 percent VAT rate on sales of cotton products.

Therefore, during sales process of cotton textile enterprises, only 13 percent of tax rate on cotton input is offset, while cotton textile companies have to bear 4 percentage points of unreasonable tax burden, which is unfair. He suggests the state to unify the rates on cotton input and sales of cotton products.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

Courtesy: Delta Galil

Apparel/Garments | On 23rd Feb 2018

Delta Galil 2017 sales up 16% to $1,368.1 million

Delta Galil sales for full year 2017 increased 16 per cent to...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Anupam Arya

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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