[China Glass Network] Recently, news about the central government's proposed reduction of export tax rebate rate and some commodity import tax and consumption tax has been rumored in the market. The downward adjustment of the two-way tax rate has caused Hong Kong enterprises to worry about the decline in the international competitiveness of export manufacturing industries and the fear that Hong Kong's retail industry will be hit hard. Is the closure of the Guangdong-Hong Kong manufacturing and retail industry approaching? The formulation of the New Deal should consider the negative impact of rising labor prices on the exporting provinces in the southeastern coastal areas? Should we take into account the reality of the "world factory" behind the order recovery? A series of questions reveals the difficult choices of China's import and export strategy. Winter Glove,Knit Glove,Women Gloves Cashmere Scarf,Women Sweater Co., Ltd. , http://www.nbcashmeresweater.com
Export tax rebate rate will be lowered experts: should be staged fine-tuning
As for the rumors that the export tax rebate rate will be lowered, the official has not responded. The industry is strongly opposed, and the opinions of the academic circles are divided. One view is that it is quite appropriate to lower the export tax rebate rate at this time for three reasons. First, the “two high and one capital†enterprises consume a large amount of energy and resources, and export their products to foreign countries, but leave the pollution in the country, which makes the export products produce a trade surplus and also leads to “environmental deficit†and export tax rebates. Policies should also be one of the policy instruments to accelerate the transformation of the way the economy develops. Second, lowering the export tax rebate rate can increase the cost pressure of “two high and one capital†enterprises, which in turn will lead to enterprise transformation and technological upgrading. At present, export tax rebates are like “protective umbrellas†for some enterprises. Under its protection, many enterprises lack innovation power. . Third, it helps to control inflation. Since August 2008, China has raised the export tax rebate rate seven times in a row. In 2009, the mainland handled a total of 648.7 billion yuan in export tax rebates. In 2010, the amount was further increased to 730 billion yuan... The increase in export tax rebate rate means a corresponding reduction in fiscal revenue. In response to the huge investment plan, the central bank has to issue additional money and credit, which will inevitably lead to inflation.
Export policy has not been "transformed"
However, many academics believe that it is not the right time to change the export tax rebate rate. Yang Liqiang, director of the China Foreign Economic and Trade Research Office of the University of International Business and Economics, said in an interview with this newspaper that compared with previous years, the trend of international inflation has gradually become apparent, and the economic recovery in Europe and the United States has been slow. Some regions, especially the Middle East and North Africa, have produced energy and trade. The political situation in the key areas of the route was turbulent. The earthquake and nuclear disaster occurred in Japan, and the uncertainties and risks accumulated in the world economy gradually appeared. In this context, China's foreign trade growth still needs a period of stability and consolidation. The overall tone of relevant policies should also be fine-tuned on the basis of maintaining the continuity of policies, rather than “transformationâ€.
A survey conducted by the Ministry of Commerce for six major trade provinces including Guangdong, Zhejiang, Jiangsu, Liaoning, Sichuan, and Hubei shows that about half of the profits of these enterprises have declined, and some enterprises have increased or even closed down. At the end of April, Yuan Xiaoming, director of the Finance Department of the Ministry of Commerce, revealed that in 2010, the average profit rate of Chinese export enterprises was 1.47%, which was lower than the average profit level of industrial enterprises. From January to February 2011, the export profit rate of enterprises further dropped to 1.44%. . The industry pointed out that in the current environment, the tax rebate rate for export commodities should not be too large. It should be controlled at 1 to 2 percentage points during the year to maintain a relatively stable operating environment. Otherwise, it is likely to launch another round of RTHK exports. The tide of corporate closure.
Yang Liqiang said: "From the recent adjustments in export tax rebate policy, the export tax rebate adjustment is more to control the export of "high energy consumption, high pollution" products, in other words, from the perspective of "adjusting structure". Even if the export tax rebate is adjusted, it will not have a big impact on foreign trade exports. The industry does not have to worry too much."
Export tax rebate into a Hong Kong enterprise "selling money" tax reform storm or the birth of the tide
Since the opening of the Canton Fair, which has been known as the "foreign trade weather vane", it has been reported frequently: on the opening day of the 109th Canton Fair (Phase I), the number of foreign buyers reported exceeded 40,000 for the first time, a significant increase of 16.78% over the previous session. . Some commentators believe that the popularity of the Canton Fair is a sign that the germination of the recovery of foreign trade is growing rapidly.
However, the thriving situation is difficult to drive away the haze that is quietly accumulating. There are rumors that the central government plans to adjust the export tax rebate rate again in July, involving high energy consumption of clothing, textiles and non-ferrous metals such as lead, zinc, aluminum and copper. The related products of the industry's chaotic and scattered, the decline rate is as high as 5%. The madness of the "bad news" has caused many manufacturers in the Pearl River Delta to be uneasy.
"If the textile industry export tax rebate is really reduced by 5% in July, then we are really difficult to collect." On May 1st, Foshan Sanshui Guangtai Textile Co., Ltd. foreign trade manager Chen Shangtian, who participated in the Canton Fair (Phase III), filed an export tax rebate. The rumors of adjustments lamented to the reporter, "For the garment factories in the textile industry, a more severe winter than the financial tsunami is coming."
"Lowering 5% is tantamount to disaster."
Another Dongguan garment exporter, Mr. Tao, also sighed to reporters. His company mainly produces denim, and the price of medium-quality denim fabric has risen from 15 yuan/m last year to the current 23 yuan/m, an increase of more than 30%. In the same period, the export quotation to customers was only 15% higher, and this part of the price increase was eroded by the appreciation of the renminbi.
"I have a shipment scheduled to be issued on May 1. When the order was signed in January this year, the central parity of the RMB against the US dollar was around 6.61, but by April 29 it had fallen to 6.499, equivalent to $10 million per export. The exchange rate is "eaten" by more than one million yuan. Under multiple pressures, the export tax rebate is really the "selling money" of the enterprise." Mr. Tao told reporters that in 2010, China’s export tax rebate reached 730 billion yuan. Under the textiles alone, the export tax rebate is about 78.5 billion yuan. One percentage point of floating up and down is directly related to the profit of the textile industry of about 5.2 billion yuan, while the downward adjustment of 5% is tantamount to letting the industry face the catastrophe. Through this newspaper, he called on the government to maintain a stable export tax rebate policy, and not to give the international market share of Chinese export enterprises hard work to India, Vietnam and other countries. Manufacturers of traditional labor-intensive products in the Pearl River Delta, such as gifts, toys, watches and hardware, are also worried about this rumor. Ye Chunrong, president of the Dongguan Taiwan Business Association, said recently that the profits of export-oriented enterprises have been very small. The average gross profit margin of the electronics manufacturing service industry has dropped from 6.2% in 2006 to less than 3%. The toy industry still has 30% in 1990. The profits are now basically unprofitable. At this time, reducing or canceling the export tax rebate rate may become a later straw that crushes many export enterprises.
The “promotion of the mouth†policy is in the process of importing an import tax reduction plan to be supported.
One news that the export tax rebate rate is about to be lowered is that a package of “promotional†policies is expected to be introduced in the first half of this year. The plans in the plan include lowering the import tax and consumption tax on milk powder, cosmetics and other commodities, and will reduce or cancel gold in the long run. Import duty and consumption tax on jewellery. Different from the strong opposition to lowering the export tax rebate rate, the downward adjustment of the import tax rate has received almost “one-sided†support from the business and academic circles in the Mainland, mainly because of the spread of high-end goods within and outside China, which has led to the outflow of purchasing power. The loss of taxes. Goldman Sachs statistics show that in 2010 China's luxury consumption was as high as 6.5 billion US dollars, of which more than 40% of luxury goods were purchased from abroad. At the same time, the market transaction scale of China's overseas purchasing in 2010 was as high as 12 billion yuan. Some scholars predict that the transaction volume of overseas purchasing will reach 48 billion yuan by 2012, and the amount of tax lost is very alarming.
Restart foreign trade transformation export tax rebate rate or downgrade?