Vinaora Nivo Slider 3.xVinaora Nivo Slider 3.x

China’s Fastener May Expect Rise of Export Rebate Rate

It was reported in recent that the development of China’s fastener industry was confronted with difficult situation. China Machinery Industry Federation (CMIF) made a proposal to department in charge that the export rebate rate for fastener industry should be raised from current 5% to 13%.

China’s Ministry of industry and information technology held a symposium for analyzing industry operation situation in the first three quarters of 2012 where representatives of CMIF put forward this proposal.

China’s had lowered the export rebate rate of fastener industry from 13% to 5% on July 1, 2007 and never change it from that on. However, the operation cost kept rising, which made slender profit margin was further compressed, especially with the changes of international environment, fastener export were confronted with the decreased in both price and volume, making company operation became more difficult.

With the ongoing uncertainties in global economic recovery and EU still did not recover from debt crisis while the USA and EU were the major export markets of China’s fastener industry, some industrial insiders expressed that the export situation for China’s fastener industry was quite not optimistic. It was said that most of the export-oriented fastener companies operated in a red. In order to help the fastener enterprises to tide over the difficult period, CMIF suggested adjusting the export rebate policy and recovering the export rebate rate of fastener industry to 13%.