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2009: Opportunities and challenges in my country’s textile industry



2009: Opportunities and challenges in my country’s textile industry News on December 15: The Central Economic Work Conference that concluded recently, while maintaining growth as t…

2009: Opportunities and challenges in my country’s textile industry

News on December 15: The Central Economic Work Conference that concluded recently, while maintaining growth as the primary task of economic work next year, clearly stated: “The general direction of accelerating the transformation of development methods and promoting strategic adjustments to the economic structure cannot be shaken.”

According to the deployment, in 2009, in accordance with the requirements of industrial structure optimization and upgrading and survival of the fittest, my country will focus on easing and eliminating bottlenecks in development, eliminating backward production capabilities and accelerating product upgrading, and enhancing independent innovation capabilities and industrial competitiveness. .

Under the dual influence of the severe situation and central policy signals, as an important industry in my country’s economic operation, what kind of “warm and cold” will textiles face in 2009?

Textiles: Multiple burden reductions “help” to get out of trouble

Industry status: In the first 10 months, my country’s textile and apparel export growth hit a six-year low. At present, about 70% of textile enterprises above designated size have an average profit margin of 0.1%, and two-thirds of enterprises in the textile industry are losing money or on the verge of losing money.

Trend analysis: With the introduction of a series of policies and measures, it is expected that the tax burden on textile enterprises will be significantly reduced next year. At the same time, industrial adjustment and upgrading is imminent.

The export tax rebate rate was raised to improve profits. The State Council executive meeting recently made it clear that the export tax rebate rate for textiles and clothing will continue to be appropriately increased. This year, the export tax rebate rate increase by 3 percentage points will reduce the tax burden of textile enterprises by more than 8 billion yuan during the year. According to a survey by the China Textile and Apparel Industry Association, the increased tax rebate rate will basically be converted into actual income of enterprises. If the export tax rebate rate continues to increase in 2009, the profitability of textile companies will be improved to a greater extent.

The financial pressure has been eased. The state has made it clear that it will suspend the implementation of the actual transfer management of deposit accounts for processing trade restrictions. Industry insiders estimate that this policy is expected to release about 6 billion yuan of funds for textile companies in 2009, improving their current situation of capital turnover difficulties.

The effects of the value-added tax reform will gradually appear. Starting from January 1 next year, the revised value-added tax transformation reform plan will be implemented. After the adjustment, the cost of purchasing equipment for textile enterprises will be greatly reduced, while the scale of value-added tax deductibility will be increased. The China Textile and Apparel Industry Association estimates that the textile industry can save 6 billion yuan in costs when purchasing new equipment in 2009, and can increase the value-added tax deductible by 12 billion yuan.

Policy Voice: According to new news from the Ministry of Industry and Information Technology, in the next step, my country will formulate a national strategy for the development of independent clothing brands, taking the clothing industry as an entry point to promote the overall brand building of China’s consumer goods industry.

It is reported that the China Textile and Apparel Industry Association has determined five major investment priorities for the industry’s technological transformation next year to effectively promote the pace of textile industry upgrading and structural adjustment. AAFSGRETEGSDFW


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