• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    Export Rebate Rate Of Textile And Garment Improves Competitiveness Of Favorable Industries

    2015/1/16 16:10:00 69

    Textile And ClothingExportTax Rebate Rate

    The Ministry of Finance and the State Administration of Taxation issued a notice in December 31, 2014 to adjust the export rebate rate of some products, including some textile and clothing (the 50-63 chapter, mainly yarn category, including some high-grade yarn, wool yarn, etc.), and the export tax rebate rate increased from 17% to 17% in January 1, 2015.

    Comment: the export tax rebate policy has been adjusted more frequently since its implementation in 1985. This part of the textile and garment export tax rebate rate has increased to 17%, which is good for the international competitiveness of the textile and garment industry.

    In March 1985, the State Council formally promulgated the export tax rebate policy and implemented it in April 1, 1985. After frequent adjustment, the export tax rebate rate of textile and clothing remained largely within the range of 5%-17%.

    The adjustment of the export tax rebate rate serves the needs of the adjustment of the export structure of the country. Taking textile and clothing as an example, in order to get rid of the financial crisis in 1998, the export rebate rate of textiles and clothing was raised from 6% to 11% in January 1998. In 2005, the peak of the export of textiles and clothing was the peak of China's export. In order to reduce the trade surplus, the export tax rebate rate of textiles dropped from 13% to 11% in 2006, and then reduced to 5% (viscose fiber) in 2007.

    The export tax rebate rate rose from 16% in 2009 to 17%, mainly for the past 3 years, the textile and clothing exports continued to slump, the middle and low order accelerated to Southeast Asian countries and other unfavorable environment.

    In the first 11 months of 2008, the export volume of China's textile and clothing grew by 8%, -10%, 24%, 21%, 2%, 11%, 5.6%, respectively, compared with the same period in Vietnam in the first -2014 months.

    Export volume

    The year-on-year growth rate was more than 40% since 2009, and domestic costs (labor, environmental protection, etc.)

    Raw material

    The continuous rise of China leads to China.

    textile industry

    The international competitiveness has been weakened.

    The export tax rebate rate increased from 16% to 17% (some textiles and garments). From the perspective of the whole industry, it is favorable to enhance international competitiveness.

    The benefit of enterprises in the industry is different due to the different product structure and business structure. The enterprises which are mainly yarn oriented, export oriented and relatively strong bargaining power will benefit significantly.

    The improvement of export tax rebate rate is good for the competitiveness of China's textile industry in the world. However, due to the different structure of products (the increase of export tax rebate rate is mainly aimed at yarn) and the business structure (the ratio of products exported to different enterprises) is different, the degree of benefit is different.

    The export oriented enterprises based on yarn will fully benefit logically. However, from the historical experience of the business level, the bargaining power of the textile enterprises as raw material suppliers is very limited. Under the condition that the downstream customers fully understand the cost structure and policy changes of the suppliers, the downstream customers will strive for more policy dividends, considering that the overall environment of the downstream customers' orders is relatively cautious (cotton prices are still downward and not yet stabilized), and the leading enterprises with relatively strong bargaining power are expected to benefit partly from the dividend policy that has increased the export tax rebate rate.

    According to the above logic, it is expected that Huafu color spinning (top grade colored yarn is the main and direct export ratio is about 30%), and Baron East (the top color spinning yarn is the main and the direct export ratio is about 30%) will be directly benefited.

    We are inclined to understand the improvement of the export tax rebate rate as a tool for the state to readjust its macroeconomic structure and export product structure. The core demand is still to stabilize foreign trade and ease the downward pressure on the economy.

    In the three carriages of investment, foreign trade and consumption, the current investment lacks the conditions for large-scale stimulation (relatively tight finance, low enthusiasm for private investment), and continuous slump in mass consumption (the real estate market is sluggish, and it is difficult to play a significant role in the short term of emerging consumption). Boosting foreign trade is also conducive to boosting the domestic economy. From this perspective, the export tax rebate rate increase is expected to only boost part of the foreign trade. As a major export category, textile and clothing will certainly benefit.

    Specific to the industry's investment logic, we maintain the textile industry "overweight rating", from the medium-term trend, cotton textile enterprises since 2010, the high cost dilemma, is expected to begin to reverse in 2015: since 2010, cotton textile enterprises are facing rising high cost dilemma, with the beginning of natural growth in human costs, environmental costs, the main raw material and cotton prices decline, cotton textile enterprises are expected to usher in the dilemma in 2015 to reverse, enhance international competitiveness.

    And experienced early industry integration, small scale, relatively weak strength of enterprises to withdraw from market competition, industry concentration is expected to enhance overall, orders and other resources to the leading enterprises gathered, is expected to significantly improve the market share of leading textile enterprises.

    The increase in the export tax rebate rate has little impact on the enterprises in the industry (the net interest rate of the export oriented yarn enterprises with bargaining power will be increased by 1%), but will strengthen our logic from the perspective of the industry.

    We recommend Huafu color spinning, Bailong East and Lu Tai A.

    The main uncertainties are: the demand for overseas markets is not as good as expected, and the downward trend of cotton prices is too slow.


    • Related reading

    Foreign Investment Can Hold 100% Of The Ministry Of Industry And Commerce: Shanghai Free Trade Zone Will Liberalize The Electricity Supplier.

    policies and regulations
    |
    2015/1/14 20:00:00
    12

    The First Document Of The Quanzhou Municipal Government Is Intended To Support The Textile And Garment Industry.

    policies and regulations
    |
    2015/1/11 8:38:00
    31

    "Transitional Period" To Support Cotton Prices "Stable" Centralized Listing To Suppress Cotton Prices Down

    policies and regulations
    |
    2015/1/9 16:13:00
    29

    Policy Cotton City "High And Stable" Rules Promulgated Cotton Prices Plummeted

    policies and regulations
    |
    2015/1/9 15:28:00
    18

    春節前后弱穩運行 拋儲新政致棉價大跌

    policies and regulations
    |
    2015/1/9 15:23:00
    12
    Read the next article

    無印良品2015年在中國將有五個新變化

    無印良品作為日本著名的家居類品牌,自進駐中國市場以來,深受中國眾的喜愛。近日其在上海舉行了一次新品發布會,預示著在新的一年里他將更一步影響我們的生活方式,并將在服飾、食品、日用品等方面推出更多新品。

    主站蜘蛛池模板: 曰韩高清一级毛片| 男女一边桶一边摸一边脱视频免费| 老扒夜夜春宵粗大好爽aa毛片| 日韩a视频在线观看| 国产成人A亚洲精V品无码| 亚洲一区二区久久| 色多多福利网站老司机| 欧美三级在线观看播放| 国产精品夜间视频香蕉| 亚洲国产精品一区二区九九| 2019中文字幕无线乱码| 欧美伊人久久大香线蕉综合| 国产精品亚欧美一区二区三区| 亚洲另类视频在线观看| 色偷偷8888欧美精品久久 | 日韩精品一区二区亚洲av观看| 国产成年网站v片在线观看| 久久精品亚洲一区二区 | 久久精品国内一区二区三区| 国产香蕉在线精彩视频| 日韩精品一区二区亚洲av观看| 国产亚洲欧美另类一区二区三区| 久久久久久亚洲精品无码| 美女把腿扒开让男人桶爽国产| 小鲜肉同性同志videosbest| 伊人久久无码中文字幕| 91黑丝国产线观看免费| 欧美夫妇交换俱乐部在线观看| 国产无套粉嫩白浆| 久久久久亚洲av综合波多野结衣| 美女裸体a级毛片| 天天操天天干天天| 亚洲日本国产精华液| 九九视频在线观看视频23| 日本全黄三级在线观看| 午夜看一级特黄a大片黑| a级片免费在线播放| 欧美又大粗又爽又黄大片视频| 国产大学生系列| 一本大道无香蕉综合在线| 浪货夹得好紧太爽了bl|