Home / Knowledge / News / Textiles / Rebate rate boost raises confidence of sewing machine sector

Rebate rate boost raises confidence of sewing machine sector

24
Jun '09
To ease pressure on export enterprises and promote foreign trade growth, the state council once again announced the decision of raising export tax refund rate on sewing machines sector, which now stands at 17 percent from 14 percent earlier.

This is the third increase of export tax rebate for sewing machines since the end of last year, as the rate has increased from 13 percent by the end of last year to 14 percent at the beginning of this year and than to the current, 17 percent.

By raising the export tax rebates, the sewing machine industry sees state's determination of reviving equipment manufacturing industry that has been heavily hit in the financial crisis, and also helps in reviving confidence of companies.

At the same time, experts agree that the main reason restricting exports is the drop in demand and increase in rebate rate can only stimulate the sector, but cannot fundamentally reverse the situation of foreign trade.

Zhejiang Winway Machinery Co Ltd, a leading enterprise in household sewing machine sector has grasped opportunities by always adhering to product innovation and adjusting product structure to meet new market demand.

After four months of decline in exports, it has finally realized an export growth in May. At present, 60 percent of exports from Winway are to EU and US markets, but it also has expanded to new markets in Southeast Asia, the Middle East and Africa.

According to statistics, China's machine industry has showed signs of a recovery; especially as sales in February increased nearly 17 percent from January and it is more imperative that sewing machine sector pay more attention to technology and quality.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 20th Oct 2020

US, Brazil update agreement on trade, economic cooperation

The United States and Brazil yesterday signed a new protocol relating ...

Pic: Shutterstock

Textiles | On 20th Oct 2020

China building more competitive mulberry silk industry

China is striving to build a more competitive mulberry silk industry...

Pic: Shutterstock

Textiles | On 20th Oct 2020

CBN invests N120 bn to revive Nigeria's textile sector

The Central Bank of Nigeria (CBN) recently said it had invested over...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Nitesh Mittal,

Nitesh Mittal

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

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

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

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search