The Development Of The Textile Machine Is Important In Rebuilding The Market Confidence
The new VAT Deduction Policy will not have much impact on enterprises, but the introduction of the policy is more positive for enhancing investment confidence.
There are two main reasons for the recession of textile industry: first, the demand for European and American market has declined rapidly due to the financial crisis, which has a great impact on export enterprises. Two, the production cost of Chinese textile enterprises has been increasing continuously due to the multiple factors such as the rise of domestic raw material prices and the increase of workers' wages. For today's textile machinery enterprises, the lack of investment confidence in the downstream textile industry leads to a downturn in market demand, which is the main predicament faced by the spinning machinery enterprises. In the current situation of shrinking market, we expect the government to introduce more favorable policies to rebuild market confidence.
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