China ASEAN Free Trade Area Tax Reduction Plan Will Bring Opportunities And Development To Exports.
The start of the "China ASEAN Free Trade Zone" tax reduction plan will significantly reduce the textile tax rates of China and ASEAN countries, and bring new opportunities for the development of China's textile industry.
According to the website of the Ministry of Commerce in August 21st, textile industry is one of the most competitive industries in China. The export of Chinese textiles to ASEAN has seen an accelerated growth trend, which partly offset the economic losses caused by the sharp decline in textile exports in Europe and the United States.
With the start of the "China ASEAN Free Trade Zone" tax reduction plan, the textile tax rates of China and ASEAN countries will be significantly reduced, bringing new opportunities for the development of China's textile industry.
For example, the average tax rate of textiles in Thailand is 21.5%. After the normal product tax reduction process, it dropped to 10.6% in January 1, 2007, dropped to 4.7% in January 1, 2009, and dropped to zero in 2010. The average tariff rate of Malaysia textile products was 16.8%, 2007 to 9.2%, 2009 to 3.9%, 2010 textile tariff, and Indonesian textile tax rate below 5%, basically no tax reduction in the early stage, and zero in Vietnam.
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