China Approves Tax Cuts, Rebates to Support Textile Industry
Friday, November 21st, 2008Nov. 21 - China has approved new tax cuts and rebates for the textile industry as part of government measures to support slowing exports.
Export tax rebates on textile products will be increased to 17 percent. The 21st Century Business Herald reported that the proposal to increase tax rebates was approved during the State Council’s latest executive meeting.
According to Customs figures, during the months of January to October, the country’s textile and garment exports came in at US$153.71 billion, up 8.6 percent compared to last year’s figures.






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