Specific regulations for the textile stimulus plan are expected to be published around March 20, a government official said yesterday.
China announced a stimulus plan on February 4 to invigorate its textile industry, which has been severely impacted by the global financial crisis. Under the plan, the export rebate for textile products will be raised to 15 percent from the previous 14 percent, falling short of the widely-expected 17 percent.
But in the upcoming specific regulations, the rebate rate is expected to be raised to 17 percent this year to ease the difficulties for small and medium-sized textile companies, the official said.
During the recent parliamentary sessions, many delegates from the textile industry urged the government to raise the export rebate rate and lend a sympathetic ear to the funding requests of the textile companies.
Chinese story link:http://www.dfdaily.com/node2/node27/node120/userobject1ai158851.shtml
(China.org.cn March 18, 2009)
