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Stimulus export tax rebates help T&G exports retain edge

19
Jan '09
According to an analysis made on data released by the Chinese customs, the stimulus packages released consecutively in the second half of 2008 has begun to show effects and helped the export industry retain the edge in face of the desperate economic crisis which has engulfed the world.

The government consecutively increased export tax rebate rate for some commodities in August, November and December in 2008. The total export value of the goods involved in December policy adjustment amounted to US $54.45 billion, showing a year-on-year increase of 4.8 percent.

From among the annual shipment figures, exports of clothing and accessories registered $119.79 billion, a year-on-year increase of 4.1 percent; exports of textile yarn, fabrics and products recorded $65.37 billion, up 16.6 percent, with growth rates rising by 1.6 percent over the previous year and shoe exports marked $29.66 billion, up 17.2 percent, growth rate gaining 1.2 percent over that of 2007.

Fibre2fashion News Desk - China


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