Blog: Raising tax rebates
Leonie Barrie | 24 October 2008
Most countries would be envious if their GDP growth was anywhere close to 9%. But earlier this week China’s government took that fact that its GBP growth had fallen to 9% - the slowest rate in five years - as a trigger to raise its export tax rebates for the second time since August.
The rebate for clothing and textiles will rise from 13% to 14% as part of attempts to help exporters hit by rising production costs and a slowdown in demand. Although the jury’s still out on just how much this move will stimulate demand in overseas markets battling their own slowdowns.
But it will no doubt add fuel to US textile protectionists who are on the look-out for evidence of “predatory trade practices” and “illegal subsidies” as they try to persuade the US government to monitor imports from China for illegal dumping.
Fashion retailer H&M and UK based glove and leather manufacturer Pittards both say they are monitoring the situation in Ethiopia closely after the country's government declared a state of emergency af...
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
- Fashion fit for the future – strategies for speed
- How PVH is paving the way for connected apparel
- Digitisation to drive new apparel-making models
- Under Armour Lighthouse will disrupt production
- Pakistan industry seeks help to kickstart exports
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Child refugees found in Turkey apparel factories
- Chinese manufacturer invests $20m in US facility
- Managing change in the move to new tech tools
- Hong Kong's Winds Group to open Haiti factory
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global Sports and Fitness Wear Market 2016-2020
- Global market review of lingerie – forecasts to 2022