Nantong Textile Industry Profits Tax Increases, Enterprises Generally Expect Caution.

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< p > < strong > profit tax increase < /strong > /p >

< p > the output of main products is an important index for the overall operation of the industry.

Data show that 1-8 months, the cumulative output of the city's yarn 381 thousand and 600 tons, an increase of 8.1% over the same period, an increase of 5.3 percentage points over the same period; the cumulative output of 1 billion 847 million meters, an increase of 1.8%, up 1.1 percentage points over the same period.

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< p > sales remain good.

In 1-9 months, the city's a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > industry declared sales of 62 billion 334 million yuan, an increase of 6.33% over the same period last year.

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< p > industry starts and sales improve, directly driving profits and tax increases.

The textile industry in the whole city accumulated a profit of 899 million yuan in 1-8 months, an increase of 1.25% compared with the same period last year, and the profit margin of enterprises was 55.5%, up 4 percentage points over the same period.

1-9 months, the textile industry completed 2 billion 68 million yuan of tax revenue, an increase of 5.53% over the same period last year.

In the 1-9 month, the textile industry accounted for 10.46% of the total tax revenue in the city, up 0.14 percentage points compared with the same period. The textile industry as a key supporting industry in our city has contributed significantly.

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< p > < strong > enterprises are expected to be cautious < /strong > < /p >.

< p > however, the industry is generally cautious about whether the textile industry can pick up quickly this year.

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< p > survey found that enterprises still have doubts about the scissors gap formed by the protective acquisition of raw materials.

In order to protect the a href= "http://sjfzxm.com/news/index_s.asp" > cotton < /a > agricultural interests, the state has increased cotton reserves, so that domestic cotton prices are higher than the international market price of 5000 yuan / ton.

Although cotton imports are subject to quotas and levying taxes, there is no quota limitation for cotton imports. Some enterprises directly import cotton yarn for sale of finished fabrics, or directly import finished fabrics for external sale, which has adverse effects on domestic cotton spinning and weaving industry.

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< p > lower sales prices also directly affect the profitability of enterprises.

Insiders pointed out that, in the case of low raw material prices, buyers will push raw materials manufacturers to reduce prices. When raw material prices go up, customers will require suppliers to execute according to the contract price.

For a href= "http://fz.sjfzxm.com/" > cotton spinning less than /a and cotton weaving enterprises, the price of products will drop when cotton prices fall, but the raw materials will push up the cost of enterprises. When the price of cotton rises and the cost of products increases, the contract price must be executed, and the fluctuation of price will be unfavourable to the enterprises.

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< p > increasing labor costs also encroach on corporate profits.

Last year, textile industry workers in Nantong increased by about 10%, and expected to grow by more than 10% this year.

In addition, the number of workers participating in insurance for pension, medical and work-related injuries increased, and the number of insurance bases continued to rise, leading to higher labor costs.

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< p > the industry generally believes that there are still uncertainties in the international market prospects, and that the demand for significant improvement is unlikely. The continued monetary easing policy in the US and Japan has further reduced the market competitiveness of Chinese products.

According to a survey released by the China Textile Corporation at the end of September, the enterprises are relatively cautious about the international market, and only 27.1% of enterprises expected to improve export orders in the future.

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