China to raise export tax rebates for textile, garment products

China to raise export tax rebates for textile, garment products DATE: 2008-10-24

China is to raise the tax rebate for certain textile and garment exports to help producers cope with the paper-thin profit margins squeezed by slacking market demand, yuan's appreciation and rising production cost. Export tax rebates for some textile and garment items would be increased by 1 percent to 14 percent from Nov. 1, according to a circular on the web site of the Ministry of Finance (MOF) on Tuesday. Source:Xinhua