China to raise export tax rebates for textile, garment products

BEIJING, Oct. 21, (Xinhua) — 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.

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