Xinjiang Has Introduced Preferential Taxation Policies For Textile Industry
Recently, the autonomous region has introduced a preferential fiscal and tax policy to support the development of the textile industry, making efforts to build Xinjiang into a mainland based, Central Asian and European region.
textile
Garment export processing base and regional international trade center.
Wang Yudai, Professor of economics of the Party School of the autonomous region, said: "we all know that since last October, the price of cotton in the whole world, including our country, has increased substantially, which has increased the cost of raw materials for our cotton textile enterprises in Xinjiang. At the same time, coupled with the financial crisis, the export market has been sluggish and the orders have been reduced, which has made the enterprise difficult."
From next year, the autonomous region will give support to the textile enterprises that carry out technological pformation, innovation and development of downstream products and receive loans from financial institutions. The new cotton textile enterprises that produce cotton raw materials and sell more than 32 yarn to the mainland will pay 200 yuan per ton of freight subsidy.
In addition, the autonomous region will arrange funds of not less than 20 million yuan a year to encourage the development of textile enterprises in Xinjiang, and from next year, 5 years of enterprise income tax sharing will be implemented.
Textile enterprises
It is exempt from 5 years of property tax and urban land use tax on private land.
Professor of economics, autonomous region Party School
Wang Yu Dai
"The seven preferential policies that the autonomous region supports cotton development is very timely and very good. It will definitely promote the adjustment of Xinjiang's industrial structure and the pformation of its development mode, and speed up the extension of the cotton industrial chain and enhance its competitiveness."
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