Against Tax Rebate, Hunan Textile Industries Accelerate Industrial Restructuring
Source: CNTEX Date: 2007-05-22
Mentioning the Hunan textile industries, many people were expressed that they had done little contributions to the Hunan economical developments. It was true that the total competivity of Hunan textile industries had dropped to reciprocal rank and the nice expressions to the Hunan textile industries had faded gradually out in the memories of the people till the middle 90s of last century. But the Hunan textile industries began to increase again during the period of 10th Five-Year Plan. The enterprises above the scales reached the industrial production value of 19.483 billion Yuan RMB in 2005, their rank went up to 13th in the whole country. It seems that the Hunan Textile industries have bobbed up like a cork.
However, the export tax rebate dropped from 13% to 11% on 15th Sep, 2006. In recent days, Mr. ChenDongqi, the subdecanal of the Academy of Macroeconomic Research, National Development and Reform Commission PRC expressed in a forum that the nation would further decrease tax rebate of the textiles so as to decrease the trade surplus and realize the structural adjustments in this year.
Our nation has adjusted tax rebate to the textiles for several months till now, but this was anticipated before the adjustments. After the dropping tax rebate, some of the Hunan textile industries will suffer great pressures of production costs, some almost no.
