It is less than two months from early February when China's export tax rebate rate was raised to 15 percent and now a second increase taking the tax rebate to 16 percent has taken effect beginning from today.
The textile and garment industry was expecting a hike of 2 percent in the days before the announcement of the rate increase and this latest hike does not seem to have quenched the thirst of the exporters from the sector.
Since August last year, the country has consecutively increased the export tax rebate four times from 11 percent to 16 percent which is a hike of 5 percent and unprecedented in history and has gone a long way in assuaging the exporting community.
Fibre2fashion News Desk - China
marketing@alchempro.com
