The Research Institute Said The Tax Rebate Rate Increased By 2%, And The Profit Of The Company Increased To 17 Billion 700 Million Yuan.

The effect of the 2% increase in export tax rebate rate on the performance of individual enterprises may not be too great, but the whole industry is not a small number.

Related agencies estimate that the increase will increase the textile industry by about 17 billion 700 million yuan.

The overall export situation of the textile and garment industry in the first half of this year is not optimistic, especially the growth of clothing has slowed down significantly.

According to the data released by the General Administration of customs, the export of clothing and accessories in China was 49 billion 960 million US dollars in the 1~6 months of this year, an increase of 3.4%, far behind the 21.9% growth of China's foreign trade exports in the first half of this year.

Textile yarn, fabrics and products exported 31 billion 720 million US dollars, an increase of 26.8%.

Many labor intensive textile enterprises struggle on the critical line of profit and loss.

According to the statistics of China Textile Industry Association, under the combined influence of various factors, the actual profit margin of 2/3 in the whole industry is only 0.62%.

According to data from Guangzhou customs, thousands of garment export enterprises in Guangdong have gone out in the first half of this year. Meanwhile, thousands of enterprises are coming on the stage.

Wang Qianjin, a senior analyst in textile industry, told the first financial daily that the textile export tax rebate rate was 1 percentage points callback, equivalent to 1% of the total export volume of the company, which directly increased to the profits of enterprises. For export oriented enterprises, the positive effect of the export tax rebate rate adjustment is direct and rapid.

According to the statistics of China's first textile network, the total export volume of domestic textile and apparel in 2007 amounted to 167 billion 900 million US dollars, of which 70% of 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 US $130 billion.

If the export tax rebate rate is adjusted by 2 percentage points, the total profit of the textile industry will increase by 2 billion 600 million US dollars. According to the exchange rate of 6.8, the profit of enterprises will increase by 17 billion 690 million yuan.

"The timely lifting of the export tax rebate rate of textile and garment according to the actual situation is not a problem of the previous export tax rebate rate reduction policy, but rather continues to promote industrial pformation and upgrading, and it is also an important way to buffer the appreciation of the renminbi at present."

Wang Qianjin thinks.

Wang also said that in the first 6 months of this year, the total appreciation of RMB has reached 6.5%. If the export amount is converted into RMB, the final real growth rate will shrink greatly. If the inflation factor is deducted, the actual growth rate of clothing export is likely to be zero or negative.

Under such circumstances, it is necessary to introduce policies to support enterprises to tide over difficulties. However, the increase of export tax rebate rate can only alleviate the pressure of enterprises in a short time, and it is impossible to change the status quo of the whole industry. It is expected that the export of RMB appreciation and inflation will not be optimistic in the second half of the year.

In order to successfully promote the pformation and upgrading of the textile and garment industry, it is necessary to establish a long-term and effective supporting policy.