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To ease pressure on export enterprises and promote foreign trade growth, the state council once again announced the decision of raising export tax refund rate on sewing machines sector, which now stands at 17 percent from 14 percent earlier. This is the third increase of export tax rebate for sewing machines since the end of last year, as the rate has increased from 13 percent by the end of last year to 14 percent at the beginning of this year and than to the current, 17 percent.
By raising the export tax rebates, the sewing machine industry sees states determination of reviving equipment manufacturing industry that has been heavily hit in the financial crisis, and also helps in reviving confidence of companies.
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