Textile Industry Export Tax Rebate Rate Will Be Raised

Yesterday, reporters learned from the authorities of the textile industry that the export tax rebate adjustment policy for textiles and related upstream industries has been finalized. The government is choosing the right time to introduce this policy, which will be issued in the late July.

Stimulated by this news, the performance of chemical fiber plate stocks rose by an average of 4.57%, and 5 stocks such as Huafeng spandex and so on.

The tax adjustment will bring short-term benefits. According to the authoritative sources, textile export tax rebate rate increased by 2%, garment export tax rebate rate increased by 4%, and the main raw material viscose fiber of textile increased by 10%.

Yesterday, the reporter interviewed several textile companies on the phone and said they would not express their views.

The chairman of a large cloth exporter in Fujian said that there was no definite provision at present.

But if we can execute the tax rebate policy as described in the news, we will have a great effect on the enterprises to alleviate the crisis.

Public information shows that if viscose fiber export tax rebate callback is 10 percentage points, the total export amount of viscose filament yarn will be 33 million 719 thousand and 400 US dollars in May. The export amount of viscose fiber will be about 202 million 316 thousand and 400 dollars in the second half of this year, which will bring a direct profit of 20 million 231 thousand and 600 yuan to the viscose industry. The current exchange rate is 6.85, which is equivalent to 139 million yuan.

Li Yang, an analyst with China Merchants Securities, believes that the strong performance of the chemical fiber plate is the result of good news.

But industry analysts are also cautious about policy news's stimulus to capital markets.

Li Yang said that in the 22 chemical fiber stocks, the trading limit was only 5, or 4.57% ranked seventh in the overall industry rankings.

The support policy is expected to have a positive effect on the stability of the industry, but it is only a short-term trend.

The industry's recovery must be based on industry restructuring and fundamental changes.

If the textile export industry wants to turn over, it will also need to digest the impact of policies, and start with cracking down on the plight of the industry.

In addition to textile and other industries, the Chinese government is also worried about the risk of the overall trade situation.

Last week, commerce minister Chen Deming said in a survey of Zhejiang, a major export province, there will be no regulation of the manufacturing sector at present. Some local governments have launched various policies to promote exports.

At the end of 5, the Zhongshan municipal government of Guangdong province convened the mobilization meeting of the city, calling for "doing everything possible to overcome difficulties and ensure export".

Taking into account the potential impact of foreign trade on employment and economic growth, the Chinese government may relax some tightening policies in some industries with high dependence on exports in the second half of the year.

In the past two months, the Ministry of Commerce and the State Administration of taxation have adopted decision-making departments in Jiangsu and Zhejiang provinces.

Recently, Vice Premier Li Keqiang of the State Council paid special attention to export-oriented enterprises featuring light textile industry in Zhejiang.

For the current situation of textile industry, the sooner the export tax rebate policy is introduced, the better.

Although the tax adjustment can not cure all diseases, it will play an important role in the recovery of the industry in the short term.