Chinese textile and garment export tax rebate rate to 17%

November 19, the State Council executive meeting held to discuss and identify the 6 textile industry to promote the healthy development of policies and measures, including further reduce the burden on business taxes and fees, increased textiles, clothing and some light industrial products export tax rebate rate. Our reporter was informed that the textile and garment export tax rebate rate to 17% have adopted at the meeting. This is the fourth time in the second half of this year, China raised a large-scale commodity export tax rebate rate, up from the last part of the goods the export tax rebate rate of the State Council executive meeting only last week, showed that high-level of textile and other labor-intensive industry is very concerned about. In addition to meeting decided to continue to improve the textile, clothing and some light industrial products export tax rebate rate, and the clean-up involved the abolition of textile enterprises all kinds of unreasonable fees, but also decided to suspend the light and textile processing trade Taizhang margin "is to" policy Make full use of the central foreign trade development fund to support textile enterprises to develop marketing, research and development and acquisitions. On July 31 this year, Chinese textile and garment will be the export tax rebate rate from 11% to 13% on October 21 and then raised to 14%. The add readjustment of the textile export tax rebate rate has reached a record high. Earlier studies had said that the textile export tax rebate rate by one percentage point change in the industry will have an impact on 4,000,000,000 yuan of profits. At the same time, the industry, according to previous statistics, the processing trade Taizhang margin "is to" take up the textile industry has an annual cash flow of up to 8,000,000,000 yuan. Customs data show that the first 10 months of this year's textile and garment exports 153,710,000,000 U.S. dollars, up 8.6 percent, and last year increase in exports compared to the same period dropped 12 percentage points. The meeting also identified the promotion of textile industry and other measures, including the promotion of the country "to the rural areas, home appliances," farmers to buy household electrical appliances to implement financial subsidies, increase the earthquake-stricken areas and regions inhabited by ethnic minorities support and stimulate consumption-led production; increase At all levels of financial support for SME development the size of special funds to support the market, and significantly improve employment and economic benefits of a significant textile projects, increase the credit guarantee system and service system into the building and other measures.