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Export Tax Rebate Rate Callback Changzhou Enterprises Benefited Nearly 100 Million Yuan

2008/8/23 12:29:00 22

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Export Tax Rebate For Garments And Textiles Changzhou

常州企業受惠幾何

Since August 1st, the export rebate rate of some commodities will be adjusted.

What is the impact of the adjustment on our city's economic development?

How does the industry look at it?

How will enterprises respond?

兩年來首次回調

In the export tax rebate rate adjustment beginning this month, the export tax rebate rate of some textiles and garments increased from 11% to 13%.

This is the first time that the export tax rebate rate has been lowered since September 2006.

This year, due to the weakening of international market demand, RMB appreciation, raw material prices, labor costs and other factors, the profits of textile exporting enterprises decreased significantly, and export growth slowed down. The proportion of total exports in the city continued to decline, and the operation was facing tremendous pressure.

Changzhou textile and clothing exported US $1 billion 149 million in the first half of this year, an increase of 14.56% over the previous year, accounting for 18.61% of the city's total, an increase of 24 percentage points below that of the whole city, and a 4 percentage point decrease in exports.

As the main export market of textile and clothing in our city, the export growth rate of the United States and Japan has dropped. The amount of us and Japanese exports in the 1 to June was 1 billion 30 million US dollars and 660 million US dollars respectively, the growth rates were 17.5% and 19.3% respectively, which were nearly 15 percentage points lower than the average level of the whole city, accounting for 16.7% and 10.6% of the total export volume of the city, respectively, which were 3 and 1.6 percentage points lower than the previous year.

"Raising the export tax rebate rate can directly reduce export costs and increase corporate profits, help reduce the export pressure faced by the textile industry, ease the shortage of funds caused by tight monetary policy to some enterprises, and play a positive role in improving the competitiveness of textile and clothing exports."

Shen Quanrong, deputy director of the Municipal Bureau of foreign trade and economic cooperation, summed up the positive impact of the callback rate of export rebates.

常州企業受惠近億元

"The export tax rebate rate adjustment involves several types of commodities, and the overall impact on our city's economic development is positive.

According to preliminary estimates, Changzhou enterprises will benefit nearly 100 million yuan in the year. "

Ni Yahe, director of the import and export tax administration office of the State Administration of Taxation, believes that the adjustment of the export tax rebate rate is a regulatory measure taken by the state in the context of the decline in export growth. It has a positive effect on easing the current difficulties in textile and garment export enterprises and maintaining social stability in employment.

He counted the reporters:

The export rebate rate of some textiles and garments increased from 11% to 13%, and 592 textile production enterprises and 297 foreign trade enterprises benefited from it.

According to statistics, in the first half of this year, the products exported to us amounted to US $700 million, and the tax rebate rate increased by 2 percentage points. We expect that the cost of the enterprises will be reduced by 100 million yuan.

紡織服裝絕處逢生

"Although the export tax rebate rate callback is only two percentage points, it shows that the state has not abandoned the textile and garment industry, so that we can see the hope again and gain confidence in development."

A general manager of a textile enterprise is very excited.

He said that in the face of unfavorable factors "internal and external difficulties", many textile and garment enterprises have been in a state of loss, and even face bankruptcy.

A statistics from the Department of foreign trade and economic cooperation showed that the profit margin of textile enterprises in our city is only about 2%, and garment enterprises of more than 10% are in a state of loss.

Hutang Town, a relatively concentrated textile and garment enterprise in our city, has about 1/3 enterprises shutting down production or changing production. In the past few years, equipment imported from China, such as arrow looms, began to sell.

A questionnaire survey of the top ten textile and garment enterprises in the whole city shows that enterprises generally predict that this year's profits will drop by 10% - 30% or even more. Maintaining survival has become the first task of a considerable number of enterprises.

"The callback of export tax rebate rate can offset some operating costs and give enterprises a breathing space.

No one dared to relax in the face of the current severe situation.

The head of a foreign trade company in our city is not worried about it. Compared with the rising export costs, the RMB exchange rate and the unpredictable international market, the tax rebate of two percentage points is "a drop in the bucket".

"On the one hand, foreign buyers, whose main factors are cost and price, will not miss the opportunity to share the cake, especially those big retailers who won the price.

On the other hand, we should not exclude individual domestic counterparts from using these two points to continue to engage in low price competition, which eventually leads to the welfare of state subsidies to "outsiders".

調整結構勢在必行

"The adjustment of the export tax rebate rate is indeed conducive to the enterprises to get out of the predicament, but in the long run, it is still necessary to enhance the international competitiveness and economic efficiency of enterprises through structural adjustment."

Shen Quanrong told reporters that a large part of the export enterprises in our city are resource oriented and labor-intensive industries. Enterprises do not have their own export brands, mainly through the processing of raw materials, simple assembly and OEM export to earn meager intermediate processing fees.

The increase of the tax rebate rate is mainly aimed at the knitting and garment industries which are downstream of the industry. It will play a certain role in promoting the export of textile products in our city. However, due to the increase of raw materials and labor costs, the appreciation of the renminbi and the subprime crisis have not yet been alleviated, and other factors still exist. Enterprises should also improve their product quality and create their own brands, so as to win the initiative.

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