In recent days, there have been rumors of a decline in the export tax rebate rate for products represented by textiles and clothing in the community, especially with the gradual progress of export tax rebates at the beginning of July. Rumors have escalated and even caused some textile and clothing companies to panic. Recently, this reporter interviewed related parties and enterprises on the truthfulness of the situation and the possibility of this policy adjustment. They said that the textile industry is facing multiple pressures on raw materials, energy, funds, and exchange rates, even though China's textile industry started in the first quarter. Good, but various risks go hand in hand, and there are still many uncertainties in the development of the industry. At this stage, it is not appropriate to lower the tax rebate rate for textile and apparel exports.
In the interview, the author learned that these socially relevant textile and apparel prices will be lowered by the export tax rebate rate is not true, the relevant national ministries have denied this statement, said that they have not yet decided to adjust the export tax rebate rate in the near future, and that the society catches the shadow of News hype is not conducive to the steady development of the national economy and the industry. At the same time, the responsible officials of relevant ministries and commissions stated that people should realize that with the needs of national economy and industrial development, the national macro-control policies will be adjusted accordingly, and such adjustments will follow the basics of science, operability, and sustainability. in principle.
Sun Huaibin, director of the China Textile Economy Research Center, believes that the reason why textile and apparel companies are so sensitive to export tax rebate adjustments is that textile and garment companies, which are mostly small and medium-sized enterprises, cannot withstand the loss of profits. In 2010, China's textile exports totaled 77.051 billion U.S. dollars, and export tax rebates amounted to approximately 78.5 billion U.S. dollars. Fluctuation of one percentage point will affect the textile industry's profit of approximately RMB 5.2 billion. In particular, textile and apparel companies have been at a meager profit for a long time. When a substantial number of SMEs are facing death or suffering, a one-percentage-point reduction will mean that a large number of small and medium-sized enterprises will slip into the line of life and death.
Judging from the motivations of previous export tax rebate adjustments, from January 1998 to July 2001, the export tax rebate rate for textiles and garments was gradually increased from 6% to 15% in three phases, clothing was increased from 6% to 17%, and export tax rebates were raised. The reason is to deal with the huge impact of the Asian financial crisis in 1998 on China’s exports. The global financial crisis caused by the US subprime mortgage crisis in 2008 caused the export of textiles and garments to be severely hampered. Since the second half of 2008, the export growth rate has continued to decline, and the rate of export tax rebates has been pulled back again. On February 4, 2009, the State Council passed the adjustment plan for the textile industry in principle, and raised the textile and apparel export tax rebate rate from 14% to 15%. On April 1st of the same year, the export tax rebate rate for textiles and clothing was increased to 16%.
In the interview, the author learned that these socially relevant textile and apparel prices will be lowered by the export tax rebate rate is not true, the relevant national ministries have denied this statement, said that they have not yet decided to adjust the export tax rebate rate in the near future, and that the society catches the shadow of News hype is not conducive to the steady development of the national economy and the industry. At the same time, the responsible officials of relevant ministries and commissions stated that people should realize that with the needs of national economy and industrial development, the national macro-control policies will be adjusted accordingly, and such adjustments will follow the basics of science, operability, and sustainability. in principle.
Sun Huaibin, director of the China Textile Economy Research Center, believes that the reason why textile and apparel companies are so sensitive to export tax rebate adjustments is that textile and garment companies, which are mostly small and medium-sized enterprises, cannot withstand the loss of profits. In 2010, China's textile exports totaled 77.051 billion U.S. dollars, and export tax rebates amounted to approximately 78.5 billion U.S. dollars. Fluctuation of one percentage point will affect the textile industry's profit of approximately RMB 5.2 billion. In particular, textile and apparel companies have been at a meager profit for a long time. When a substantial number of SMEs are facing death or suffering, a one-percentage-point reduction will mean that a large number of small and medium-sized enterprises will slip into the line of life and death.
Judging from the motivations of previous export tax rebate adjustments, from January 1998 to July 2001, the export tax rebate rate for textiles and garments was gradually increased from 6% to 15% in three phases, clothing was increased from 6% to 17%, and export tax rebates were raised. The reason is to deal with the huge impact of the Asian financial crisis in 1998 on China’s exports. The global financial crisis caused by the US subprime mortgage crisis in 2008 caused the export of textiles and garments to be severely hampered. Since the second half of 2008, the export growth rate has continued to decline, and the rate of export tax rebates has been pulled back again. On February 4, 2009, the State Council passed the adjustment plan for the textile industry in principle, and raised the textile and apparel export tax rebate rate from 14% to 15%. On April 1st of the same year, the export tax rebate rate for textiles and clothing was increased to 16%.
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