Home >

The Export Tax Rebate Rate Has Improved, And The Textile And Garment Industry Has Been Saved?

2008/8/8 16:37:00 45

??? 日本語 Fran?ais English 中文

Export Tax Refund For Textile And Garment Industry

Recently, the Ministry of Finance and the State Administration of Taxation jointly issued the notice on adjusting the export tax rebate for some textiles and garments, pointing out that since August 1st, the export tax rebate rate of some textiles and clothing has increased from 11% to 13%.

This means that most textile and garment enterprises will increase their profits by 20 thousand yuan for each export of 1 million yuan in the future.

According to the analysis results of CICC, the export growth of China's clothing products has shown signs of slow growth this year. In the first 5 months of this year, China's total exports of textiles and clothing were 71 billion 316 million US dollars, up 12.42% from the same period last year.

Among them, export clothing and accessories were 37 billion 643 million dollars, up 7.03% from the same period last year, 11 percentage points lower than the same period last year.

With the sharp increase in domestic costs and the sharp decline of international demand, the textile industry's various business indicators have declined sharply. In many textile and garment industry listed companies' semi performance forecast, "meager profit" has become a "loss".

Some analysts believe that with the further changes in the internal and external economic environment, China's export growth will continue to slow down in the second half.

Against this background, measures such as adjusting the export tax rebate rate are becoming more and more popular.

What is the benefit of tax adjustment?

The increase in the export tax rebate rate will benefit the textile and garment industry. It can effectively curb the further expansion of the industry deficit, and will greatly alleviate the pressure of survival of small and medium-sized textile and garment enterprises, help enterprises to survive the current difficult period, and form a short-term positive effect on the whole industry.

It is understood that in 2007, the total export volume of domestic textile and apparel was 167 billion 900 million US dollars, of which general trade accounted for 70%. According to the annual export growth of 10%, the total export volume of textiles and clothing could reach US $184 billion 700 million in 2008, of which the total export volume of general trade mode could reach about 130 billion US dollars.

After the export tax rebate rate is raised by 2 percentage points, the total profit of textile industry will increase by 2 billion 600 million US dollars theoretically.

From the announcement of the relevant listed companies, the shares of the company declared that the export tax rebate rate adjustment will have a greater impact on the company's performance in the second half of the year and the future performance.

According to our company's financial department, based on export sales figures for 1-6 months in 2008, the profit before tax was increased by about 15 million yuan in the past six months.

Lu Tai A announced that because of the export of our products, the adjustment of the export tax rebate rate will have a greater impact on the company's performance in the second half of the year and in the future.

According to our company's financial department, according to the import and export plan for 8-12 months in 2008, the total profit of the company will be about 21 million 80 thousand yuan this year.

Rebound is hard to sustain

Last Friday, the announcement of the export tax rebate rate was announced. Textile and apparel stocks such as Phoenix Bamboo textile, cashmere industry, Nanfang share, Shanghai San Mao and Xinhua Jin have risen against the market and become a hot spot in the market.

Moreover, most of the textile and apparel stocks have dropped much earlier than the market, and the adjustment range is also deep.

But this Monday, most of the textile and apparel stocks declined, including Dang Yang Shi, Lu Tai A, Chinese clothing and other textile and apparel stocks even declined.

The author believes that this is because the A share market is "unstable and unstable" at present, and speculators are looking forward to the rebound of funds, but they are still not willing to save the market. The textile and garment stocks will also be greatly affected. On the other hand, the adjustment of the export tax rebate rate policy alone can not fundamentally solve the current difficulties of the textile and garment industry.

In the medium to long term, the two other unfavorable factors that affect the development of the textile and garment industry -- the appreciation of the renminbi and the rising cost of energy and labor will continue.

The key is to speed up the structural adjustment of our products, work hard on the contribution rate of technology and brand, improve the added value of products and upgrade the industry.