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Recently nike air zoom pegasus 32 dames , the State Ministry of Finance and State Administration of Taxation jointly issued on the lower part of the export tax rebate rate notice, once again ranked among the textile industry. Industry professionals believe that the export tax rebate rate of textile and garment industry's downturn has been expected, mainly clothing and viscose fiber will be listed impact. "Several adjustments in the aggregate may result in the most direct consequences of the second half of 2007, export growth declined from industry, trade and further slight decline in profitability." Orient Securities analyst, said Shi Hongmei interview. China Textile Import and Export Chamber of Commerce official told reporters, based on 2006 data, the export tax rebate cut 1 percentage point, industry profits will fall by 4.6%. However, China's textile export price lower than similar products in the international market more than 10%, export margins are thin, even if the price was up, still competitive overseas. Moderate reduction in export tax rebate rate The state of the textile industry to adjust export tax rebate mainly clothing and viscose industries, including, clothing, shoes, hats, bags and product categories from 13% of the export tax rebate rate down to 11% export tax rebate rate of viscose fiber adjustment magnitude larger, from 11% to 5%. It is understood that this is since 2001, the 4th China textile and apparel export tax rebate adjustment. Earlier, the market has long been rumored to textile export tax rebate, so the adjustment should be said to be expected. Industry generally believe that the actual adjustment of relatively mild, the scope of tax rebate only clothing and viscose fiber, textiles not included in earlier rumors, while the reduction in tax rates than other goods to small, cut down the scope and range of products are less than the market expected. Nevertheless, the tax rebate adjustment on the impact of the textile industry but can not be ignored. Orient Securities analyst Shi Hongmei that adjustment than the one before this adjustment affect broader, in September 2006 China's textile export tax rebate will be reduced from 13% to 11%, according to estimates, textile exports account for the entire industry's total exports 40%, while clothing, shoes, hats, and viscose fiber sector's total export share of exports accounted for 60% or so. In addition nike air pegasus 83 dames zwart , from the time point of view, there is a certain adjustment of the previous transition period, but this adjustment has been released ahead of time, but no specific transition period, so the industry a greater impact corporate profits. Influenced apparel export business Shi Hongmei, said a further cut the export tax rebate mainly clothing, shoes, hats, and viscose fiber industry, the related companies in particular export-oriented, relatively low margin businesses were the biggest negative impact, some companies may even the brink of bankruptcy. In contrast, domestic-based products to small businesses affected, more to come from domestic sales in the export sector has an indirect impact. For export-oriented apparel, footwear and luggage accessories business enterprises as the main customers also will have a negative conduction. It is understood, Jiang Su Sanyou, large Young Creation, Liaoning and other times the proportion of listed companies in garment exports, so the views of this tax cut by the impact may be larger. Garment export earnings last year, Jiang Susan You 4.6 billion, accounting for 87% of the company's main revenue; Big Young Creation apparel exports 480 million yuan last year, accounting for 74% of main income; Liaoning times export earnings last year, 1.15 billion yuan, accounting for the Lord 61% of operating income. The red beans shares, seven wolves to domestic-oriented enterprises directly affected by the policy adjustment is small. Red Bean clothing exports last year, the proportion of shares of only 3.24 percent, seven wolves exports accounting for 2.55 percent. Shi Hongmei also pointed out that through the static calculation, even if affected several large listed company, its earnings per share of 0.01 yuan has only -0.03 per hour, while the listed company's competitiveness in the industry still has significant advantage, it is expected that the policy adjustment related to listed companies on the impact of significantly less than non-listed companies. Viscose prices rose by repression From January to April this year, exports of viscose fiber industry data, total domestic exports in April before the viscose staple fiber 34,459.71 tons nike air zoom pegasus 31 dames , up 173.02 percent year on year; total exports amounted to 63,297,800 U.S. dollars, up by 235.80%. Total exports in April before the filament reaches 26,765.89 tons, up 35.6% year on year; total exports amounted to 99,379,800 U.S. dollars, up 54.73 percent. Viscose fiber production at present the proportion of exports accounted for only 12.53%. Domestic viscose fiber industry, including listed companies, Shandong Hailong, Xinxiang Chemical Fiber, Baoding Swan, Nanjing Chemical Fiber, Jilin Chemical Fiber, fiber, etc. Dandong, the company's 2006 annual report, apart from Shandong Hailong, Xinxiang Chemical Fiber, Baoding Swan exports relative proportion larger, respectively, 15%, 22% and 20%, the majority of listed companies in viscose industry domestic sales and export, the proportion is generally low. Shandong Hai Securities, a staff member to do an interview, said the company mainly domestic-oriented and export tax rebate rate cut has little effect on the company, and therefore the company has yet to make specific adjustments exports, the future is not likely because reduction and elimination of export tax rebate rate. Guoxin Securities analyst high Minfang that lowered export tax rebate rate of viscose fiber is not limited to the specific impact of the company's profitability, but the domestic supply and demand play a moderating role in the vi.

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