• <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: 久久久久亚洲av无码尤物| 免费无码又爽又刺激高潮视频| 中文无码av一区二区三区| 精品无码国产自产拍在线观看蜜| 婷婷久久香蕉五月综合| 亚洲精品国产精品国自产网站| 182tv免费观看在线视频| 日韩三级电影院| 午夜人性色福利无码视频在线观看| av无码国产在线看免费网站| 欧美性天天影院| 国产乱码一区二区三区爽爽爽 | 免费大片黄在线观看日本| 91香蕉在线看私人影院| 最近中文字幕国语免费高清6| 国产专区在线视频| a级国产乱理伦片在线播放| 欧美国产日韩久久久| 国产不卡视频在线| _妓院_一钑片_免看黄大片| 未满十八18禁止免费无码网站| 国产一卡2卡3卡4卡公司在线| bban女同系列022在线观看| 美女网站色在线观看| 欧美成人在线观看| 国产人妖视频一区在线观看| а√天堂资源官网在线资源| 欧美大胆a级视频免费| 国产zzjjzzjj视频全免费| 999国产精品999久久久久久| 日韩精品中文字幕在线| 免费无遮挡无码视频网站| 性欧美激情videos| 成人免费无码精品国产电影| 亚洲成年人专区| 中文字幕制服丝袜| 成人午夜性a级毛片免费| 亚洲成A人片在线观看无码| 色yeye在线观看| 国产美女一级特黄毛片| 中文织田真子中文字幕|