The Overall Loss Making Policy Of The Textile Industry 2/3 Will Be Launched In Due Course.

In view of the large losses and profit margins, the government made its first public statement. According to the news released yesterday by the China Textile Import and Export Chamber of Commerce, Gao Hucheng, Vice Minister of Commerce of China, said on 14 th that it will launch a policy of supporting at the right time to help textile industries such as export problems.

Gao Hu City on the 14 day at the fourth China Jilin Northeast Asia Investment and Trade Expo press conference gap, said that in the first half of this year, with the international market economy changes and the RMB exchange rate influence, textile industry as a representative of some industries export problems.

The Ministry of commerce is actively investigating and will launch policies at the right time.

Influenced by factors such as RMB appreciation, rising labor costs and declining export tax rebate rate, the latest statistics show that 2/3 enterprises in textile and garment industry are generally in a state of loss or profit, and many enterprises are on the verge of bankruptcy.

The amount of clothing exports in the first half of the year increased by only 3.4% over the same period last year, and the growth rate was much lower than the 21.7% in the first half of 2007, the chamber of Commerce announced yesterday.

The industry has attracted the attention of government departments. Since the beginning of July, leaders of China's official senior leadership and economic and financial departments have gone to major export provinces to study the economy and export situation.

A few days ago, it was reported that the state has made breakthrough progress in the export tax rebate policy of the textile industry, and the decision making department has passed and will "wait for the opportunity to introduce" this policy. It is expected that the policy will be announced in the near future, and once the policy is implemented, the profitability of the textile export enterprises will be greatly improved.