Recently, the Ministry of Finance, the State Development and Reform Committee, Ministry of Commerce, the General Administration of Customs, State Administration of Taxation issued a circular jointly, saying that the rebate rate on textile exports will be lowered from 13% to 11%.
The new policy will be implemented from September 15, 2006. Experts think that this adjustment will help to regulate the trade surplus, and will be conducive to further optimize the textile industry, and change the mode of growth, promote the balanced development of foreign trade. However, it is also pointed out that the textile export tax rebate rate will be further adjusted.
