New Tax Rebate Policy Promotes Shenzhen'S Clothing Export

"The new export tax rebate policy is a good way to ease Shenzhen's clothing export pressure."

Wei Dazhi, director of the center for industrial economics research of Shenzhen University, told reporters that since yesterday, the Ministry of Commerce and other relevant departments have raised the export tax rebate rate of some textiles and clothing from 11% to 13%, which is of positive significance for changing the predicament faced by our city's clothing export.

Textile and clothing are the dominant traditional industries in Shenzhen. Last year, the city achieved about 100000000000 yuan in output value and nearly 100 billion dollars in exports.

However, due to the impact of the US subprime mortgage crisis and the overall downturn in the international economic situation, Shenzhen's clothing and textiles exports in the first half of this year amounted to 4 billion 600 million US dollars, down 52.3% compared with the same period last year, and net exports decreased by US $5 billion 40 million.

Among them, the export of clothing and textiles by private enterprises was 2 billion 420 million US dollars, down 68.5% compared to the same period last year.

The new export tax rebate policy will undoubtedly play a catalytic role in reducing the market pressure of Shenzhen garment enterprises.

"While Shenzhen enterprises are making good use of the new export tax rebate policy, they must rely on brand strategy and technological innovation."

Wei Dazhi said that Shenzhen's clothing industry is in a period of rapid pformation from low technology content, low added value, export processing type to high technology content, high added value and private brand development mode.

The output value of private brand products increased from less than 10% in the early 90s to 49% last year.

Shenzhen should maintain the momentum of optimizing the industrial structure, speed up the technological pformation and upgrading of the garment industry, and comprehensively promote the competitiveness of the textile and apparel industry in the international market.