Raising The Export Tax Rebate Rate Will Increase Fujian Textile And Garment Industry By 1 Billion Yuan.
Fuzhou, August 12 (Hu Shanan) Fujian is the sixth largest textile and clothing export country in the country. In 2007, the total export volume of textiles and clothing was 7 billion 312 million US dollars, up 26.15% over the same period last year.
If the annual export growth rate of 10% is estimated, the total export volume of textile and clothing will reach US $8 billion this year.
The export tax rebate rate will increase by 2 percentage points, and the total profit of the textile and garment industry in the province will increase by 161 million US dollars. According to the current exchange rate level, enterprises will increase profits by not less than 1 billion yuan.
It is understood that in the case of constant product sales price, the increase of export tax rebate rate will directly lead to the increase of gross profit margin of enterprises, which will greatly promote the recovery of enterprise performance. Experts predict that the export tax rebate rate will be increased by 1 percentage points every time, which is equivalent to directly increasing the total export volume of enterprises to 1% of the profits of enterprises.
Judging from the list of textile products to increase the export rebate rate, the products covered by this adjustment include wool yarn, cotton yarn, chemical fiber filament, chemical fiber staple and the corresponding fabric, and other plant textiles, which cover most of the textile and clothing export in Fujian province.
According to the insiders, the cost of textile and garment export in Fujian province has been increasing this year due to the weakening of the international market demand, the rising price of domestic raw materials, the acceleration of RMB appreciation and the rising labor cost. Some export enterprises are facing difficulties in production and operation. Statistics show that in the first half of the year, the total export volume of textiles and clothing in the province was 3 billion 420 million US dollars, up 7% from the same period last year. The improvement of export tax rebate rate will help to lighten the pressure faced by the textile and garment industry and support the healthy development of export enterprises.
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