Wang Rongkui: The increase in export tax rebate is a short-term policy
On June 9th, "Hong Kong stocks direct" program broadcast "Wang Rongkui: the increase in export tax rebate is a short-term policy."
Liu Fang: Due to the impact of the financial tsunami, exports are now very weak. In order to stabilize external demand, the national policy still supports the export industry. The Ministry of Finance of China and the State Administration of Taxation announced yesterday that the export tax rebate rate was raised for the third time this year. The products included mainly include 2,600 kinds of agricultural products, medicines and steel products. The products involved are different from the earlier categories of tax refunded goods. It must be more extensive. Mr. Wang, how much do you think the tax rebate measures will help to enhance the competitiveness of exporting companies?
Wang Rongkui: From this period of time, we have seen that the export tax rebate is falling and falling again. The previous period was mainly textiles, etc. Now it is transferred to agriculture, chemical industry, biology, and steel, etc., indicating that the situation of our export is very recent. Severely, from the macro data, we are also experiencing a decline in exports. Therefore, from the recent point of view, the state has to further start external demand, speed up export tax rebates, or a larger export tax rebate to encourage exports.
Plus, we have recently seen the global optimism about the bottoming of the economy, or very clear. Especially in Europe and the Americas, we officially started to increase exports during this period. Because the global economy is bottoming out, many countries are in the process of economic construction. At this time, we increase the amount of export tax rebates and encourage enterprises to export in large quantities. So this is also a strategic consideration.
Therefore, from the current point of view, the industry, mainly agrochemicals, biology, including steel, is still encouraged to continue production and encourage exports. From the perspective of the actual effect, it may take some observations, just like the textile industry in the previous period, a large export tax rebate, but we have seen that the amount of exports has not increased substantially, so we see this area is even more Wide. Therefore, this time there may be a good policy support for a large number of export processing industries.
Therefore, we believe that the impact may be a short-term effect for industry stocks. In the long run, more actual data needs to be seen, that is, the real increase in exports. In the short term, we can only see a short-term policy. effect.
Liu Fang: Due to the impact of the financial tsunami, exports are now very weak. In order to stabilize external demand, the national policy still supports the export industry. The Ministry of Finance of China and the State Administration of Taxation announced yesterday that the export tax rebate rate was raised for the third time this year. The products included mainly include 2,600 kinds of agricultural products, medicines and steel products. The products involved are different from the earlier categories of tax refunded goods. It must be more extensive. Mr. Wang, how much do you think the tax rebate measures will help to enhance the competitiveness of exporting companies?
Wang Rongkui: From this period of time, we have seen that the export tax rebate is falling and falling again. The previous period was mainly textiles, etc. Now it is transferred to agriculture, chemical industry, biology, and steel, etc., indicating that the situation of our export is very recent. Severely, from the macro data, we are also experiencing a decline in exports. Therefore, from the recent point of view, the state has to further start external demand, speed up export tax rebates, or a larger export tax rebate to encourage exports.
Plus, we have recently seen the global optimism about the bottoming of the economy, or very clear. Especially in Europe and the Americas, we officially started to increase exports during this period. Because the global economy is bottoming out, many countries are in the process of economic construction. At this time, we increase the amount of export tax rebates and encourage enterprises to export in large quantities. So this is also a strategic consideration.
Therefore, from the current point of view, the industry, mainly agrochemicals, biology, including steel, is still encouraged to continue production and encourage exports. From the perspective of the actual effect, it may take some observations, just like the textile industry in the previous period, a large export tax rebate, but we have seen that the amount of exports has not increased substantially, so we see this area is even more Wide. Therefore, this time there may be a good policy support for a large number of export processing industries.
Therefore, we believe that the impact may be a short-term effect for industry stocks. In the long run, more actual data needs to be seen, that is, the real increase in exports. In the short term, we can only see a short-term policy. effect.
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