Expanding Domestic Demand Is A Great Benefit To The Textile Industry.

Wen Jiabao, premier of the State Council, chaired the executive session of the State Council on November 5th, decided to implement a proactive fiscal policy and moderately loose monetary policy, to introduce more effective measures to expand domestic demand, speed up livelihood projects, infrastructure, ecological environment construction and post disaster reconstruction, improve the income level of urban and rural residents, especially low-income groups, and promote stable and rapid economic growth.

The conference's measures are quick and punching.

Wang Limin, general manager of China Textile Limited by Share Ltd, a textile listed company, said: "this year, under the dual influence of the international financial tsunami and the domestic stock market downturn, we have accepted the severe test.

The Central Committee's efforts to revitalize China's economy with supporting measures have been a major long-term good for enterprises, pointing out the direction for us and strengthening our confidence in moving forward.

After knowing the news, Cai Gaosheng, chairman of Guangdong silk textile group, said, "the policy has finally landed."

Cai Gaosheng said that after the export enterprises generally hoped that the state can further improve the export tax rebate rate, speed up the export tax rebate approval procedures, accelerate the return of funds.

"Now we must follow the general direction of the country."

Cai Gaosheng said that the next Guangdong Silk Textile Group will make further efforts in domestic sales and independent innovation.

Sun Huaibin, spokesman for the China Textile Industry Association, said the ten measures reflect the significant adjustment of macroeconomic policies. This is not only a practical action to fulfill China's commitment to the international community, but also to make China's economy contribute to international economic stability, and also a powerful measure to ensure domestic economic growth and prevent economic downside risks.

Sun Huaibin believes that speeding up independent innovation and structural adjustment is very important, which is also the main line of the textile industry.

In addition, the full implementation of the pformation of value-added tax, encouraging technological pformation of enterprises, lightening the burden of enterprises, increasing financial support for economic growth, abolish the scale of credit restrictions on commercial banks, and increasing credit support for small and medium-sized enterprises and technological pformation, merger and reorganization, will lighten the tax burden of textile enterprises and help increase investment and accumulation of enterprises.

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Sun Huaibin hoped that the banking institutions would correctly understand the status and role of textile SMEs in the national economy, and increase support for textile enterprises.

In addition, in recent years, in the context of energy saving and emission reduction tasks, textile enterprises should actively take actions to further promote the environmental protection of enterprises and strive for more policy support in the context of the state's measures to strengthen the construction of ecological environment.

The ten measures adopted by the State Council to expand domestic demand and promote economic growth are as follows: first, speed up the construction of affordable housing projects.

The two is to speed up the construction of rural infrastructure.

The three is to speed up the construction of major infrastructures such as railways, highways and airports.

Four, speed up the development of medical, health and cultural undertakings.

Five is to strengthen the construction of ecological environment.

The six is to speed up independent innovation and structural adjustment.

Support the development of high technology industrialization and industrial technology, and support the development of service industry.

The seven is to accelerate the work of post earthquake reconstruction in the earthquake stricken areas.

The eight is to increase the income of urban and rural residents.

The nine is to implement the VAT reform in all regions and all sectors of the country, encourage technological pformation and reduce the burden on enterprises by 120 billion yuan.

Ten is to increase financial support for economic growth.

Preliminary calculation and implementation of the above projects will require about 4 trillion yuan by the end of 2010.

To speed up the progress of construction, the meeting decided that the central government will invest 100 billion yuan in the fourth quarter of this year. Next year, the post disaster reconstruction fund will arrange 20 billion yuan ahead of schedule, bringing about local and social investment, with a total scale of 400 billion yuan.