Textile Exports Increase Again, Low Textile Tax Rebate Issued This Month

The export growth rate of China's textile and clothing has been declining this year, especially clothing exports. In May, the total export volume was only 8 billion 590 million US dollars, up 1.1% over the same period last year.

According to the data released by the customs, 1~5 textile and clothing exports in Guangdong this year were 11 billion 510 million US dollars, down 15.7% from the same period last year, a sharp decrease of 40.3 percentage points compared with the 24.6% growth rate last year.

Reporters learned yesterday from the sources that the textile and garment export tax rebate policy has achieved a breakthrough in the callback policy, and the decision making department has passed and will "wait for the opportunity to introduce" this policy.

Earlier, industry rumors raised the textile export tax rebate rate by two percentage points and the export rebate rate of clothing increased by 4 percentage points.

New growth in garment export growth

In this regard, the Guangzhou Municipal Foreign Trade and Economic Cooperation Bureau official told reporters that from the recent Ministry of commerce foreign trade division in Guangdong's investigation, the export tax rebate is likely to be issued, "because the Ministry of Commerce in the past is most concerned about the surplus, but this year is concerned about the export trend, asking whether Guangdong's textile exports can maintain growth in the second half."

The export growth rate of China's textile and clothing has been declining this year, especially clothing exports. In May, the total export volume was only 8 billion 590 million US dollars, up 1.1% over the same period last year.

Is the export tax rebate effective for the struggling textile industry?

Yu Huahai, a researcher in the field, thinks that the timing of the export tax rebate rate for textile and garment industry needs to be determined according to the performance of the industry in the first half of this year.

But the export tax rebate rate callback policy is a gospel for export oriented enterprises, and can help textile and garment enterprises get warmer.

Joint Securities researcher Wang Rong said: "the export tax rebate callbacks, the pressure faced by export enterprises will be greatly alleviated."

However, she believes that the callback rate of the export tax rebate rate is a more encouraging signal, giving the exporters a cushion, and it is estimated that the next cost increase is still large, and the export enterprises need to be cautious when taking orders.

No enterprises can adjust their policies when they complain.

But some people think that the tax rebate is not conducive to the upgrading of textile enterprises.

Guo Jin securities (600109, stock bar) researcher Zhang Bin said: "it is not recommended to increase the export tax rebate rate for textile and clothing".

Zhang Bin said that industry consolidation has been talked about for many years, and now that the industry integration is accelerating, the enterprises will complain, the policy will be changed, and the policy will be too arbitrary.

If only for the sake of employment, the most clothing should be raised and the textile should not be adjusted.