Textile Export Tax Rebate Rate Fell, Rumors &Nbsp Again; Factories Fear Collapse Now
Hongkong set up in the mainland
clothing
Manufacturers warn if the government cuts sharply.
Spin
The export tax rebate will bring the factory closures.
The warnings were made by a joint survey conducted by the Hongkong Textile Federation and the Hongkong textile chamber in May.
The members of the two chambers of Commerce cover almost all the textile and garment industries in Hongkong.
There is speculation that China is going to retire.
tax rate
From the current 16% to 11%.
If guessing is true, it will make exporters difficult to turn around and reduce profits.
Lin Xuanwu, President of the Federation of textile industry, said cotton prices and wages soared, the yuan reached a new high against the US dollar, labor shortages, and the continued instability of the European and American economies had weakened the textile industry. If the tax rebate was substantially reduced, the industry would be badly hurt.
He said that 11% of the tax rebate would make garment manufacturers unable to survive.
He said that the industry was not opposed to the upgrading of the country, but from the industry perspective, clothing sewing could introduce a higher degree of technology.
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