Spike Textile And Garment Exports Increased Slightly In The First Half Of 1%

Reporters from yesterday's Guangzhou Foreign Investment Symposium was informed that in the first half of this year, Guangzhou's exports of labor-intensive products dominated by processing trade were greatly affected. 1~6 textile and clothing exports increased by only 1% in the first half of this year, an increase of nearly 30% over the same period last year.

In addition, the utilization of foreign capital in the low end manufacturing industry is also showing a negative growth trend.

Xiao Zhenyu, director of the Guangzhou Municipal Bureau of foreign trade and economic cooperation, said that due to the relatively reasonable industrial structure of Guangzhou, the proportion of processing trade in foreign trade was relatively small. The total import and export volume of Guangzhou region remained 14.45% in 1~6 months this year, and the growth rate of foreign capital utilization reached 10.31%.

Xiao Zhenyu told the heads of dozens of foreign enterprises attending the meeting that the direction of foreign capital utilization in Guangzhou has not changed.

Guangdong is particularly affected by the subprime crisis.

As a major foreign trade province with 1/4 share in foreign trade and Guangdong and Hongkong as the main export area, the subprime crisis is particularly serious.

According to the data released by the Guangdong branch of the General Administration of customs, the total value of Guangdong's foreign trade and import and export in 2008 1~6 was 324 billion 510 million US dollars, an increase of 13.4%, which is lower than the growth rate of 26.3% in the whole country.

In the first 5 months, the utilization of foreign capital also decreased significantly, of which the amount of contracted foreign capital amounted to US $13 billion 724 million 980 thousand, an increase of 12.6% over the same period last year, an increase of 20.2%.

Xiao Zhenyu said that Guangzhou still maintained a good momentum of development, but the total volume of imports and exports still had a certain gap compared with the growth rate of more than 20% last year.

In 1~6 months, the total import and export volume in Guangzhou was 39 billion 559 million US dollars, up 14.45% over the same period last year, of which 20 billion 458 million US dollars, 14.01%, 19 billion 101 million US dollars, 14.93%.

472 newly approved foreign direct investment projects, 3 billion 705 million foreign investment contracts, grew by 10.31% compared with the same period last year, and the actual use of foreign capital was 1 billion 815 million US dollars, an increase of 19.08%.

The industry is widely rumored that the textile tax rebate program will be adjusted.

The latest round of surveys by the Guangdong provincial foreign trade and Economic Cooperation Department shows that the biggest external factor affecting export is RMB appreciation.

The Research Report on the impact of the rising RMB exchange rate on our province's foreign trade exports said: "when the RMB appreciation is 1%, the profit of the textile industry will decrease by 2%~6%, and the revaluation of RMB 3% will wipe out the average profit of the textile industry. If the construction ceramics industry appreciates 3% yuan, it will increase the cost of 3%~5%."

In addition, the industry has been widely rumored that the state will soon return the export tax rebates for labour intensive industries such as textiles, toys and shoes, so as to help enterprises tide over the difficulties.

It is reported that the Ministry of Commerce will launch the textile tax rebate up plan in August.