Rebate Cut Will Slow Textile Industry
Textile-exports growth may slow to 16% this year from 25.2% in 2006 because of a strengthening yuan and the recent cut in export tax rebates, the economic planning agency said. The National Development and Reform Commission said that the value of exports will likely total $165 billion this year, compared with $144 billion last year. The agency said profits in the textile industry will fall by 4.
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