Expanding Domestic Demand Is Good For Textile Enterprises Or Promoting The Development Of Cotton Industry Chain.
Premier Wen Jiabao chaired a standing session of the State Council in November 5th to study and deploy measures to further expand domestic demand and promote steady and rapid economic development. As the world economic and financial crisis is becoming more and more serious, we must adopt flexible and prudent macroeconomic policies in order to resist the adverse effects of the international economic environment on China. At present, we should implement a proactive fiscal policy and moderately loose monetary policy, and introduce more effective measures to expand domestic demand, so as to promote steady and rapid economic growth.
The meeting identified ten measures to further expand domestic demand and promote economic growth. These include: in all parts of the country, all sectors will implement the VAT reform in an all-round way, encourage enterprises to make technological pformation, reduce the burden on enterprises by 120 billion yuan, increase financial support for economic growth, cancel the scale of credit restrictions on commercial banks, expand the credit scale rationally, increase credit support for key projects, "three rural", small and medium-sized enterprises, technological pformation and merger and reorganization, and foster and consolidate the growth point of consumer credit.
The state's measures to expand domestic demand, especially the implementation of a proactive fiscal policy and moderately relaxed monetary policy, is undoubtedly a major positive news for the textile enterprises now in trouble. Textile enterprises basically break the capital chain is expected to resume, technological pformation of textile enterprises will promote the upgrading of industrial technology. The adjustment of product structure and the healthy development of textile industry will also lead to the development of the whole cotton industry chain.
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