Reportedly, Government is expected to decrease the current rebate rate of clothing export from 13 to 11 percent by April 15, 2007. Though this news is yet to be confirmed, many textile and clothing enterprises of Qingdao have speeded up their export activities.
If clothing manufacturers could not export their products before April 15 and the rebate rate is cut down, then they may lose a profit worth millions of RMB.
According to textile experts, in recent years, Chinese textile and garments industry has suffered a lot due to trade frictions, RMB appreciation and so on. If this reduction in rebate rate was finalized, domestic traders would have to bear a severe blow.
Fibre2fashion, News Desk - China
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