Textile Enterprises Game Export Tax Rebate Puzzle

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In early March, the industry announced that the export tax rebate would be reduced by 4 percentage points, which led many enterprises to fall into the ice cellar.

Then, in late March, the frequent failure of textile enterprises attracted the attention of the decision-making level. After the investigation of the Ministry of Commerce and China Textile Association, the news began to blow again, and the export tax rebate callback became the biggest expectation of many businesses.

At the beginning of May, the export tax rebate rate finally had a relatively clear statement. Du Yuzhou, President of the China Textile Industry Association, said that the textile export tax rebate rate will definitely not drop again this year.

"Have you heard about the possibility of a callback in the export tax rebate rate?"

In June 2nd, he was planning to interview Yu Huahai, a researcher in the field.

Du Yuzhou, President of the China Textile Industry Association, has made it clear that textile and garment export tax rebates will not drop again this year. Recently, the export tax rebate rate of textile and garment industry or the callback of 2%~4% has been rife again.

However, the company is still resisting many months of appealed to the policy of warming up for several months.

Callback 2%~4%?

People close to the decision-making level revealed that the above export tax rebate rate adjustment scheme has been pferred to the State Council and is still waiting to be approved.

According to the news of the person, the export rebate rate of textile and clothing or from the current 11% to 13%.

However, there are also reports that the export rebate rate of textiles will be raised from 11% to 13%, while clothing will be raised from 11% to 15%.

If the policy is to be adjusted, the two quarter data intensive July will be the time point for the policy.

"At present, we have not received the exact message of the export tax rebate in July, but the chamber of Commerce has reported the collection and collation of the textile enterprises to the Ministry of Commerce."

The Chinese textile import and Export Chamber of Commerce said, "but whether it will be adopted depends on the opinions of other ministries and commissions."

"There is too much information about the export tax rebate adjustment. I dare not believe it easily."

Li Tiezhan, manager of Ai Mei Fashion Co., Ltd.

In fact, early this year, various rumors about the adjustment of export tax rebate have been going on for several times, and many textile enterprises appear tired and cautious.

Since 2006, export policy has been tightening again and again under the pressure of reducing surplus.

However, a series of policies have been released this year, when the impact of the US subprime crisis worsened, and the appreciation of the renminbi and the implementation of the new labor contract law, some labor intensive enterprises were struggling.

The plight of spinning enterprises has aroused great concern from the government.

Wang Qian, editor in chief of the first textile network, thinks that for the struggling textile enterprises, the government should make some distinction in the formulation of supporting policies.

"Long-term problems need to be solved by long-term means. To solve the current outstanding problems in the textile industry, it is imperative to determine the intensity and timing of the tax rebate policy adjustment."

Wang Qian said.

"If the export tax rebate rate is callback, it will surely be good for export oriented textile enterprises."

Hua Hai said.

Wang also believes that if the export tax rebate rate is adjusted to 2%, the total profit of the textile industry will increase by 2 billion 600 million US dollars. According to the exchange rate of 6.8, the profit of enterprises will increase by 17 billion 690 million yuan.

Stable exchange rate or tax rebate adjustment?

Wang Qianjin believes that the obstruction of exports is the key to the current contradictions in the textile industry, and how to improve the export environment of textile enterprises is very important.

According to the general opinion of the industry, there are two ways to achieve this goal. One is to slow down the speed of RMB appreciation and stabilize market expectations; the two is to moderate the tax rebate rate of textile exports.

In the view of Cao Xinyu, vice president of textile chamber of Commerce, there is a more flexible plan for export tax rebate adjustment, that is to set up an linkage mechanism between export tax rebate and RMB appreciation, so as to ensure that the proportion of export tax rebate and RMB appreciation will be raised simultaneously in a certain proportion.

This view has been recognized by many people in the industry.

"At present, the appreciation of the renminbi and the adjustment of the tax rebate policy have become the choice of" two in one "in the decision-making level.

Wang Qian said.

He further explained that if the exchange rate is stable, the export tax rebate policy will be much less urgent. If the RMB appreciation rate accelerates, the possibility of reducing export pressure by raising the export tax rebate will be much greater.

In June 2nd, the central parity of RMB against the US dollar was 6.9372 yuan, a new high.

As of June 2nd, the cumulative increase of RMB since the reform was 14.46%.

It is clear that the market has clearly expected that the RMB appreciation trend has not changed, and a new round of acceleration cycle may be in sight.

The industry generally believes that in all aspects of the situation, July may be the best time to introduce export tax rebate policy.

The callback policy is controversial, but the company is still struggling to call for months of warming.

Only a return to textile and clothing industry may cause complaints of shoemaking and toys as labor-intensive industries. In addition, considering the quota of the textile and garment market in the United States will be abolished at the beginning of next year, the necessity of warming up policy is also controversial.

According to Hua Hai, the export tax rebate for textile and garment is deviated from the direction of the whole industrial structure adjustment.

However, from the five provinces of China Textile Association and the textile and garment orders of Canton Fair, the cumulative effect of pre regulation policies is obviously much more serious than before.

Under such circumstances, we do not exclude that the government will appropriately adjust the tax rebate rate to ease the enterprises. Two, the government is worried that the collapse of textile and garment enterprises will cause unemployment and other problems.

Compared with the mild attitude of Hua Hai, the opposition of some people is quite tough.

"If the difficulties arise in some enterprises, it is necessary to raise the export tax rebates, which is undoubtedly a retrogression in history."

The official said, "I hope that the relevant departments will take full account of the long-term healthy development of the whole industry in policy formulation, and there is no need to try to interfere in the industry's advance step by administrative instruction."

Recently, the relevant national policies have loosened.

In May 28th, the State Council announced that from June 5th to October 5th, a provisional slip tax on certain quantities of cotton imported from the quota should be implemented, and the high quality cotton with high import price would be reduced from 570 yuan / ton to 357 yuan / ton, and the current sliding tax will be resumed from October 6th.