The advantages of the textile industry revitalization plan highlight the increase in export tax rebate rate
On March 26, Premier Wen Jiabao of the State Council presided over the State Council executive meeting on the 25th to review and approve in principle the views on promoting Shanghai to accelerate the development of modern service industries and advanced manufacturing industries, and to build international financial centers and international shipping centers. The meeting also decided to increase the export tax rebate rate for some textile and garment, light industry, steel, non-ferrous metals, petrochemicals and electronic information products from April 1, 2009, but did not announce the specific increase in export tax rebate rate. Morocco Robe,Muslim Abaya For Men,Muslim Women Abaya,Muslim Boys Clothing fucheng county huaxing garments co.,ltd , https://www.fc-huaxing.com
According to the February export data released by the General Administration of Customs, China’s exports in February fell by 25.7% compared with the same period of last year, which is not only the fourth consecutive month of decline, but also the deepest month of decline. In January-February, China's foreign trade import and export value was 266.77 billion US dollars, down 27.2% from the same period last year (the same below). Of this total, exports were 155.33 billion US dollars, down 21.1%. Therefore, it was expected by the outside world that the State Council is likely to increase the export tax rebate rate for textiles and garments again, and the export tax rebate rate is likely to increase to 17%.
Since last year, China has adjusted the export tax rebate rate five times, and will increase the export tax rebate rate in April. It is reported that the textile and garment export tax rebate rate is likely to increase to 17%.
Extended reading 1: State Council: From April 1st to increase the export tax rebate rate for some products such as textiles and clothing. Wen Jiabao presided over the State Council executive meeting to review and adopt in principle the promotion of Shanghai to accelerate the development of modern service industry and advanced manufacturing industry, international financial center and international shipping center. The opinion decided to increase the export tax rebate rate for some products. Xinhuanet Beijing, March 25th, Premier Wen Jiabao presided over the State Council executive meeting on the 25th to review and adopt in principle the promotion of Shanghai to accelerate the development of modern service industry and advanced manufacturing, and the construction of an international financial center. The opinion of the International Shipping Center decided to increase the export tax rebate rate for some products.
The meeting held that since the reform and opening up 30 years ago, Shanghai has made great achievements in economic and social development and is currently in a critical period of economic development and transformation. In response to the international financial crisis, Shanghai will accelerate the development of modern service industries and advanced manufacturing industries, and build an international financial center and shipping center to better serve the Yangtze River Delta region and serve the Yangtze River by leveraging Shanghai's comparative advantages and demonstrations. The basin and the service nation are of great significance. The meeting proposed that by 2020, Shanghai will basically be built into an international financial center that is compatible with China's economic strength and the international status of the renminbi, and an international shipping center with global shipping resources allocation capabilities. The main tasks are: (1) to build a more developed multi-functional, multi-level financial market system. Strengthen the construction of financial institutions and business systems, and steadily promote the opening up of the financial services industry. Improve financial service facilities and layout planning to improve the level of financial services. Improve the financial legal system, strengthen financial supervision, and maintain financial stability and security. (2) Optimize the modern shipping collection and distribution system and realize the integrated development of various transportation modes. Integrate the resources of the Yangtze River Delta port and improve the layout of shipping services. Explore the establishment of a comprehensive pilot zone for international shipping development, actively and steadily develop shipping financial services and various financing methods to promote and standardize the development of the cruise industry. (3) Bringing into play the advantages of advanced manufacturing industry, providing strong support for the development of the service industry, and promoting the development of advanced manufacturing industry with the development of service industry. (4) Persist in promoting development with reform, solving problems through reform, and reforming the system. Promote enterprise reform and restructuring, especially accelerate the transformation of government functions and management innovation, and create a favorable environment for economic and social development. (5) Strengthening the mutual cooperation and support between Shanghai and the Yangtze River Delta region and other central cities in China, strengthening the complementary advantages and strategic cooperation with Hong Kong, and forming a pattern of rational division of labor, mutual promotion and common development. The meeting held that in order to implement the package plan for coping with the international financial crisis and promoting economic growth, and fully implementing the ten major industrial restructuring and revitalization plans, it is necessary to appropriately increase the export tax rebate rate for some products. The meeting decided to increase the export tax rebate rate for some textile and garment, light industry, steel, non-ferrous metals, petrochemical and electronic information products from April 1, 2009. The meeting also studied other matters. (Xinhua) Continue reading 2: Textile and other industries export tax rebate rate increase Zhejiang foreign trade enterprises to welcome the spring breeze "export tax rebate has increased, indicating that the country's package of economic growth is being implemented, many companies are expected to gradually step out of the operational dilemma." Last night Upon hearing this news, Li Jianhua, CEO of Wanshili Group, was very excited. He said that he has been looking forward to this news and it has finally become a reality.
The executive meeting of the State Council held yesterday reviewed and approved in principle the promotion of Shanghai to accelerate the development of modern service industries and advanced manufacturing industries, the construction of international financial centers and international shipping centers. The meeting decided to increase some textiles from April 1, 2009. Export tax rebate rate for clothing, light industry, steel, non-ferrous metals, petrochemicals and electronic information products. Last night, Hangzhou Customs officials said that although the specific tax rebate rate has yet to be released by the General Administration of Customs and the Ministry of Finance, many business leaders have already calculated the next step of business deployment. "If there are two points, it is equivalent to the net profit of the current textile companies, because many companies now have very low profits." Li Jianhua said. This is the fourth time since last year that the country has increased the tax rebate rate for textile exports. Since August 1 last year, the country has increased the export tax rebate rate for textile industry products from 11% to 15%. (17%) only has a distance of two percentage points. Looking back at the account of his own company, Li Jianhua felt even more. The clothing of Masters is mainly exported to the United States, Europe and other places. The order for this year is about 50 million US dollars. If the calculation is based on April 1st, if the export tax rebate rate is increased by 2 percentage points, the export amount of 40 million will be equivalent to 800,000 US dollars. Net profit. Jiang Yimin, the person in charge of Zhejiang Xinda Textile, said that although this part of the profit can not be fully loaded into the company's pocket, at least there is room for bargaining, and it is more competitive when the order is received. "Multiple opportunities, but also many hopes." In fact, the adjustment of national policies, in addition to bringing real profit margins to enterprises, more importantly, bring confidence. Zhuo Yongliang, director of the Provincial Development and Reform Institute, said that the adjustment of export tax rebates is an important step in the full implementation of the ten major industrial restructuring and revitalization plans. In his view, the national export tax rebate policy provides a transition period for the adjustment of export enterprises. (Qianjiang Evening News) Extended reading 3: Increase export tax rebate I hope for a long time. The six major industries' new export tax rebate policy will be implemented on April 1. On March 25, Premier Wen Jiabao presided over the decision of the State Council executive meeting to implement the response to the international financial crisis. And a package of plans to promote economic growth, comprehensive implementation of the ten major industrial restructuring and revitalization plans, it is necessary to appropriately increase the export tax rebate rate for some textile and garment, light industry, steel, non-ferrous metals, petrochemical and electronic information products, new export tax rebates The policy will be implemented from April 1.
While the State Council decided to increase the export tax rebate rate, the State Administration of Taxation decided to simplify the filing management system for export tax rebates (exemption). From April 1st, after the export enterprise declares the tax refund (exemption) for export goods, it shall be in the “Repository Document Depository†column of the “List of Exported Goods Record Documents†to indicate the storage location of the record certificate. The unified number of the document is bound into a book.
I hope that it can't be too high. "I will definitely help you with exports. I hope for a long time." Gu Xinyi, chairman of the board of directors of BGSD Shanghai Derente Group, one of China's largest leather exporters, told reporters that the country raised the export tax rebate rate for those seasonal export trade. It is too late for the product. Gu Xinyi explained that since the renminbi has been strong externally, coupled with the export tax rebate rate is not very high, the competitiveness of China's textile enterprises in exporting has declined a lot, and many orders have been included in Southeast Asian countries such as Sri Lanka. Now increasing export tax rebates can only improve the profitability of those companies that have already received orders.
"This year, China's foreign trade exports will fall by more than 40%." Gu Xinyi expects that Shanghai Derente Group's exports will fall by 20%-30% this year, and its foreign trade volume will be around 500 million yuan. It is understood that in the past, the foreign trade volume of Shanghai Derente was usually around 900 million yuan.
“Improving the export tax rebate will not have a big impact on the steel industry.†He Rongliang, a steel analyst at the China Merchants Productivity Promotion Center, believes that many countries have begun to implement trade protectionism for their own interests due to the financial crisis. At this time, China has increased the export tax rebate. Although it has improved the competitiveness of enterprises to a certain extent, it cannot be expected to be too high.
International demand continues to be weak "We used 8 factories last year and only used 3 of them this year." Gu Xinyi revealed, but still filled the capacity needs of these three factories. "In addition, there are still five to survive, and the difficulties can be imagined."
Gu Xinyi said that the current trade environment is too bad and the survival of enterprises is too difficult.
In addition to textiles, the volume of foreign trade in steel and petrochemical products has also dropped sharply. According to China Customs statistics, in February, China's steel exports amounted to 1.56 million tons, down 49.8% year-on-year, down 18.3% from the previous month. The cumulative export volume in January-February was 3.47 million tons, down 52.1% year-on-year.
A few days ago, China Steel Association estimated that steel exports this year will drop by 80%, far more than its original forecast of a 50% drop. Due to the severe shrinkage of international market demand, China is likely to become a net importer of steel in March. The import prices of foreign steel and billets are very low, which further threatens the survival of domestic steel companies.
"Because international demand has plummeted, international steel prices have fallen more than domestic ones. Chinese companies can't solve the dilemma of steel exports simply by raising export tax rebates." He Rongliang said that this increase in export tax rebates is only for those who export more steel. Iron and steel companies have helped, and the entire steel industry cannot solve the problem of shrinking actual demand.
Gu Xinyi believes that it is good for the country to raise export tax rebates at present, but the best way to solve the actual problems of foreign trade is to carry out a large depreciation of the RMB. Because the value of the currencies of neighboring countries and regions is depreciating significantly, this directly affects the competitiveness of China's export products. In addition, it is best for the country to return some of the export taxes collected last year to enterprises to further enhance corporate confidence and accelerate the revitalization of exports. (International Finance News)
Extended reading 4: The increase in export tax rebate rate is equivalent to the direct increase of profits. The increase in export tax rebate rate is undoubtedly a good news for enterprises in distress. According to the calculation of the First Textile Network, the export tax rebate rate is raised by one percentage point, which is equivalent to directly increasing the amount of 1% of the total export value of enterprises to the profits of enterprises. For export-oriented enterprises, the positive effect of the export tax rebate rate correction is direct and rapid. of. If the textile export tax rebate rate can be raised to 17%, it can bring a net profit of about 12 billion to 14 billion yuan for the whole industry.
Although the upward adjustment of the export tax rebate rate is good news, for the textile industry, it is far from enough to raise the export tax rebate rate. It is suggested that the government pay more attention to the difficulties of the textile industry when formulating macroeconomic regulation and control policies. (Jinghua Times)