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                The export tax rebate rate is raised.

                Hits:Updated:2018-07-11 16:07:21【Print】

                With the spread of the international economic crisis, global consumption has fallen sharply, and international trade has also declined. According to the International Monetary Fund, global trade will fall by 9% in 2009, the lowest since World War II. In response to the current crisis, the State Council executive meeting decided to increase the export tax rebate rate for some industries, which has played a certain role in boosting the performance of textile, steel, non-ferrous metals, chemical and electronic information industries.

                Textile

                Trading opportunities appear

                The export tax rebate was raised to 16%, lower than the market's previous forecast of 17%. However, the export tax rebate policy itself is a trade protection measure. Whether to increase the export tax rebate and increase the amount depends on China's trade policy. The upward adjustment of the export tax rebate rate is also facing international pressure. On the other hand, domestic employment pressure. Intensification, the government's export protection and employment purposes also have the need to protect labor-intensive industries; third, insurance employment and industrial upgrading are not both goals. If industrial upgrading is required, it is necessary to eliminate backward production capacity and promote technological upgrading. Most of the textile and apparel SMEs are unable to carry out technological transformation.

                The expected effect of the upward adjustment may make some enterprises report better than market expectations. Some export-sensitive enterprises may report better than market expectations, mainly due to the increase in export tax rebates. Export tax rebates have been raised since August last year. 5%, according to estimates, considering the price changes, the net profit of the textile industry can be increased by 8.95 billion, and the clothing and shoes are 20.52 billion.

                The export data in February is still worrying. The export to the United States, Japan, and the European Union has experienced a sharp decline. The first two months of the Spring Festival factor is still a small decline. The growth rate of fixed asset investment in the first two months of the industry is also A sharp decline. According to the PMI index, the main index of the textile industry in January 2009 remained low, or even continued to drop, much lower than the average of 20 industries across the country. In January, its comprehensive index PMI, production index, and new order index were 28%, 18.8%, and 15.2%, respectively, lower than the national average of 17-30 percentage points, and less than 20% from the new export order index. Some market analysts believe that the worst moments of exports will be passed in the next few months, but there is no obvious signs of recovery. In the first half of the year, there were trading opportunities for export-sensitive high-beta stocks.

                Overseas textile and apparel stocks rebounded recently to support the rebound of domestic export stocks. Since February, the US S&P 500 apparel retail index has rebounded by 32%; the Japanese textile and apparel index rebounded by 18.23%; the global apparel index rebounded by 22.9%; the European apparel index rebounded the highest. 25.79%; the recovery of overseas markets also provided confidence and foundation for the recent rebound of export-sensitive enterprises. Recently, high-beta stocks such as Jinfeida and Zhongyin Cashmere rebounded. Investors are advised to actively focus on export-sensitive companies.

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