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Incentives to add textile capacities in overseas markets

18
Sep '09
At the meeting of executive directors of the China Cotton Association, the Director of Foreign Trade Division of the Ministry of Commerce, China, Mr Cheng Chun spoke at length on investment policies with regards to overseas investments by China's textile enterprises.

Cheng Chun pointed out that the recent US anti-dumping measure against Chinese tires, could trigger special safeguards against Chinese textiles and trade frictions could worsen, due to the recessionary trends in the future.

At present, relevant departments are in close consultations on initiating special response measures, aiming to create a stable trade environment for textile and garment exports.

In addition, he said, the Commerce Department is drawing up relevant preferential policies, including tax incentives, to encourage well-performing enterprises to go abroad and invest in adding new production capacities.

Fibre2fashion News Desk


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