Du Yuzhou: China´s Textiles Tax Rebate Reduction Not Likely, Not Now (07/06/2011)

Updated: 2011/7/6 10:21:00

June 14, in a meeting of the Standing Council of China Bast and Leaf Fibers Textile Association, Du Yuzhou, president of China National Textile and Apparel Council, said that the reduction of export tariff rebate rates was unlikely, it was just rumor out there; the authority was not going to make that kind of changes, not now at least.

June 15, according to spokesperson for the Ministry of Commerce Yao Jian, export tax rebate rates would not change much as a whole. But it was quite likely that rates would be reduced for a few types, such as high energy-consuming, high-polluting products. He added that, in the past few years, export tariff rebate rates had been blamed by some for its frequent changes. As a policy, the rates should be kept relatively stable, said Yao.

As early as the beginning of 2010, it was said that several departments were discussing the abolishment or decline of some high-energy, high-pollution and resource-based products´ export tax rebate. Finance Department put a program in Mar and discussed it with Development and Reform Commission and Commerce Department in Apr.

Recently, rumors about export rebate rate became more and more detailed. Some media reported that export rebate rate of aluminum products may be lowered from 13% to 9%. Rumors in textile industry went as the rate may be lowered by 5%.

None of the news was confirmed by government or industrial associations. Officials from financial department recently pointed out that adjustment on export rebate rate is still under discussion.

The Gov and analysts are both commit themselves to stabilize export rebates policy. But, there is still dispute on whether stabilizing at current high level or after correcting down to a suitable level.

Source: China Textile Leader

Authority in Charge: China National Textile and Apparel Council (CNTAC)

Sponsor :China Textile Information Center (CTIC)

ISSN 1003-3025 CN11-1714/TS