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

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

August 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
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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