New Export Textile And Garment Products In 2015: Expected Tax Rebate Increase

Export tax rebate is originally a neutral policy to ensure fair international competition, but in China, it has been repeatedly regarded as a tool to adjust foreign trade structure and solve trade balance.

Faced with the fact that the downward pressure on the economy is still great, China may again adjust the export tax rebate rate.

Tools.

According to sources, the overall adjustment is mainly to raise the export tax rebate rate, leading the export of China's superior products, limiting or even further reducing the export tax rebate rate of "two high one capital" products, and optimizing the export tax rebate structure.

In May 2014, the general office of the State Council issued some opinions on supporting the steady growth of foreign trade. It proposed to further speed up the progress of export tax rebates, support the "going out" of Chinese equipment, and put forward the need to improve the export tax rebate policy in order to stabilize the development of foreign trade.

Since then, the relevant departments have been paying close attention to the adjustment of the export tax rebate policy.

At present, China's annual export tax rebate has exceeded 1 trillion yuan, most of the products export tax rebate rate has reached 17%, but some products still retain 0%, 5%, 9%......

16% there is still room for adjustment for certain rebate rates.

China launched the largest export tax rebate rate reduction in July 1, 2007.

The adjustment has also been given impetus to the domestic market.

The function of structural adjustment.

In addition to maintaining the full refund of 17% of high-tech products, the export tax rebates for more than 500 products of "two high and one capital" have been abolished, and the export tax rebate rate of more than 2000 commodities that are likely to cause trade friction has been reduced.

The global financial crisis, which began in late 2008, made the survival of labor intensive enterprises directly related to employment and social stability. In 2008, China once again recalled the export rebate rates of various products in seven times a year.

The export tax rebate policy has served as a tool for macroeconomic regulation and control.

This year, the downward pressure on China's economy has gradually increased. In the first three quarters, GDP (GDP) grew by 7.4% over the previous three quarters. The first three quarters increased by 7.4%, 7.5% and 7.3% respectively, while the growth of major economic indicators in October and November further slowed down, indicating that the economic growth in the four quarter has not completely stabilized.

Although China's economy is still in line with the growth range set at the beginning of the year, the trend of economic inertia is gradually emerging. If we do not take further effective measures, it will have a negative impact on the economy in 2015.

From the three major demands that affect China's economic growth, consumption plays a fundamental role, but the bulk consumption of people living in banks is very low, especially in the real estate market, and the short-term consumption of new consumption is hard to play a large role in stimulating consumption.

Although the effect of investment on economic growth is obvious, it can not adopt the method of large-scale stimulation of investment in the past, coupled with the tighter financial situation and the lack of large-scale investment conditions, and the enthusiasm of private capital investment is not high. Investment can only play a leading role in some major infrastructure projects and major projects.

According to statistics, the scale of investment projects approved by the NDRC during the year has reached 1 trillion and 260 billion yuan, and the pace of examination and approval in the four quarter has accelerated significantly.

Based on this, China's economic growth must be explored.

Advantages.

China is now the world's largest commodity trading country. With the implementation of the "one belt and one way" strategy, adjusting the export tax rebate policy and giving full play to the new advantages of foreign trade will not only help boost China's economy, but also play an important role in promoting the recovery and development of the world economy.

Perhaps this is why China has to adjust its export tax rebate policy.