Textile industry welcomes government´s plan

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Source: CCTV.com | 02-05-2009 12:00

Experts believe the new plan to invigorate the textile industry will not only solve the short-term difficulties facing the sector, but also encourage innovation and branding to boost the the industry's future.

Du Yuzhou, chairman of China National Textile & Apparel  Council, said, "Our industry takes the plan as a catalyst  for building a competitive textile industry at the global  market. Our goal is that China tops the world's textile  industry by 2020."

China has raised the export tax rebate rate for textiles three times since last August. Experts believe the latest one percent hike is significant for exporters.

Wang Qianjin, chief editor of 1Fang.com, said, "A one percent hike in export tax rebates brings 4 billion yuan more in profits for the whole industry. The policy has a direct and quick influence. It is a big move."