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[Textile and garment industry: import tariff reduct]
Release date:[2017/11/28] Read a total of[2151]time

The State Department of the Treasury issued a new deal on 11/22. From January 12, 2017 onwards, the tariffs on some consumer goods were reduced by a provisional tax rate. The tariff adjustment involved a total of 8 tariff lines and 187 categories. The average tax rate dropped from 17.3% to 7.7 %, Of which 38 were related to apparel. The average tax rate for the apparel, accessories, home textiles, footwear, luggage and other sub-categories dropped from 20.4% to 8.7%. The tax rate was lower than the average for all categories.

The tariff adjustment is expected to mainly benefit the formation of cross-border e-commerce industry and will have a limited impact on the overall retail sales of apparel. According to the Ministry of Finance's sample survey data, tariffs actually account for only 0.5% to 7% of the retail price of goods. Considering that China's imports of apparel (especially garments, accessories and footwear) products tend to be concentrated in the high-end and luxury categories, import duties Reducing the effect of the change in domestic and foreign product spreads is limited. It is expected that tariff reductions will mainly stimulate the enthusiasm of cross-border e-commerce consumers and will have a limited impact on retail sales. The competition in the domestic apparel industry will mainly focus on overall product price / performance improvement by enhancing retail efficiency and supply chain efficiency .

Specifically, the brand side, great changes, both high-end or mass brands have been out of the extensive stage of development, began to shape their core competencies. With the rise of China's economy and the market, a large number of excellent brands with Chinese cultural gene are emerging; in terms of mass brand, brand marketing + efficient product development + terminal retail control + supply chain system construction , The traditional mass brand leaders are reshaping their own competitive barriers around the above aspects.

At the manufacturing end, China's textile manufacturing leader is gradually establishing an increasingly strong voice in the global industrial distribution. At the same time, the scarcity of high quality manufacturers is increasingly highlighted. Apart from continuing to establish mutually reinforcing deep cooperation with the best brands / terminals In addition, driven by the Internet, high-quality manufacturers are also getting immediate consumer opportunities through new marketing models and channels, resulting in better returns on the value of quality manufacturing.

From the stock level, the attractiveness of the leading valuation in the recent sharp decline of the sector gradually reflects the suggestion that companies with growth potential next year should reiterate their recommendation on the Pacific Rim.

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