It is estimated that factors like RMB appreciation and decrease in the rebate rate of value-added tax will lower the growth rate of Chinese fibre export in the second half of this year.
To add to this, European Union is emphasizing the need to prolong the quota limit on Chinese fibre to safe guard the interest of local manufacturers. The US also decided to levy the anti-dumping tax on Chinese terylene short fibre.
In the first five months of 2007, the export of Chinese fibre went up by 15.8 percent than the same period last year, whereas the rise rate of Chinese fibre export in 2006 was 25 percent. Of this, exports to Asia increased by 10.6 percent; to Japan, the boost was by 2.7 percent; export to EU shot up by 6.1 percent. However, fibre exports to America leapt by 30.6 percent.
Experts predict that this year, Chinese fibre export will rise at the rate of 12 percent.
Fibre2fashion News Desk - China
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