From August 1, the export tax rebate rate for some textiles and garments has increased from 11% to 13%. This is the first time that China has reduced the export tax rebate rate for enterprises since September 2006.
The relevant person in charge of the Ministry of Finance to increase the competitiveness of textile exports said that since the beginning of this year, the decline in demand in the international market, the appreciation of the renminbi, and the rise in raw material prices and labor costs have caused a decline in the profits of textile export companies and a slowdown in export growth. Business is under tremendous pressure. The data shows that in the first half of this year, the export of textiles and garments was US$83.851 billion, an increase of 11.11% year-on-year, a decrease of 6.4 percentage points from the increase in the same period of last year. Under such circumstances, it is necessary to properly adjust the fiscal policy to help enterprises tide over difficulties and maintain steady and rapid development of China’s foreign trade exports.
The relevant person in charge of the Ministry of Finance said that raising the export tax rebate rate can directly reduce export costs and increase corporate profits. This will help alleviate the export pressures faced by the textile industry, alleviate the shortage of funds brought by tight monetary policy to some enterprises, and have a positive effect on improving the export competitiveness of textiles and garments.
In addition, textile and garment enterprises are labor-intensive industries and have played an important role in absorbing employment in the labor force. Raising the export tax rebate rate can enhance the ability of the company to resist market risks, support SMEs to overcome operational difficulties and promote healthy development, and further promote the employment of urban and rural labor.
Differentiating people with pressure from the relevant departments of the Ministry of Finance said that the goal of the central government's economic work in the second half of the year is to continue to maintain stable and rapid economic growth, and strive to promote sound and rapid economic and social development. At the same time, we must continue to suppress excessive prices. The rise was placed in a prominent position and efforts were made to control price increases within a reasonable range. In order to achieve this goal, we must grasp the key points, rhythms, and strengths of macroeconomic regulation and control; we must persist in treating them differently, preserve pressure, and solve problems flexibly and accurately.
While raising the tax rebate rate for some textiles and garments, at the same time eliminating some of the tax rebates for high energy consumption, high pollution, and resource-based products, this reflects the difference in treatment, pressure, and targeted solutions. The red pine nuts, some pesticide products, some organic arsenic products, some coating products, some battery products, and carbon anodes, which are subject to export tax rebates, are high energy-consuming, highly polluting, and resource-intensive products. The cancellation of export tax rebates for these products will help save energy and reduce emissions, reduce waste of resources, and further promote economic restructuring.
The relevant person in charge of the Ministry of Finance to increase the competitiveness of textile exports said that since the beginning of this year, the decline in demand in the international market, the appreciation of the renminbi, and the rise in raw material prices and labor costs have caused a decline in the profits of textile export companies and a slowdown in export growth. Business is under tremendous pressure. The data shows that in the first half of this year, the export of textiles and garments was US$83.851 billion, an increase of 11.11% year-on-year, a decrease of 6.4 percentage points from the increase in the same period of last year. Under such circumstances, it is necessary to properly adjust the fiscal policy to help enterprises tide over difficulties and maintain steady and rapid development of China’s foreign trade exports.
The relevant person in charge of the Ministry of Finance said that raising the export tax rebate rate can directly reduce export costs and increase corporate profits. This will help alleviate the export pressures faced by the textile industry, alleviate the shortage of funds brought by tight monetary policy to some enterprises, and have a positive effect on improving the export competitiveness of textiles and garments.
In addition, textile and garment enterprises are labor-intensive industries and have played an important role in absorbing employment in the labor force. Raising the export tax rebate rate can enhance the ability of the company to resist market risks, support SMEs to overcome operational difficulties and promote healthy development, and further promote the employment of urban and rural labor.
Differentiating people with pressure from the relevant departments of the Ministry of Finance said that the goal of the central government's economic work in the second half of the year is to continue to maintain stable and rapid economic growth, and strive to promote sound and rapid economic and social development. At the same time, we must continue to suppress excessive prices. The rise was placed in a prominent position and efforts were made to control price increases within a reasonable range. In order to achieve this goal, we must grasp the key points, rhythms, and strengths of macroeconomic regulation and control; we must persist in treating them differently, preserve pressure, and solve problems flexibly and accurately.
While raising the tax rebate rate for some textiles and garments, at the same time eliminating some of the tax rebates for high energy consumption, high pollution, and resource-based products, this reflects the difference in treatment, pressure, and targeted solutions. The red pine nuts, some pesticide products, some organic arsenic products, some coating products, some battery products, and carbon anodes, which are subject to export tax rebates, are high energy-consuming, highly polluting, and resource-intensive products. The cancellation of export tax rebates for these products will help save energy and reduce emissions, reduce waste of resources, and further promote economic restructuring.
Inks Thickener,Organoclay Inks Thickener,Water Based Inks Thickener,Waterborne Inks Thickener
CHANGXING GUANGDA NEW MATERIALS CO.,LTD. , https://www.gdbentonite.com