New Tax Initiatives by Chinese Government Reinforce Confidence of Textile Industry!

Press release February 15, 2009 Fashion

The Market Place for World Class Textile Machinery – The 14th ShanghaiTex will be Held in June 2009

Celebrating its 25^th anniversary, the most established textile industry exhibition in China and the unique national brand, The 14^th International Exhibition on Textile Industry (ShanghaiTex 2009) will be held onJune 12-15, 2009 at Shanghai New International Expo Center, Pudong, Shanghai, PR China. It is expected that the exhibition area will reach 120,000 sqm and over 1,500 international exhibitors will participate.

ShanghaiTex is held biennially in odd-numbered years in Shanghai since its establishment in 1984. The exhibition has been serving as a professional trading platform for cutting-edge textile machinery and technologies for the textile industry. In ShanghaiTex 2009, the East & West wings of Shanghai New International Expo Center will also be fully utilized, displaying knitting, hosiery, printing, dyeing, finishing, spinning, non-woven, techtextile and weaving machinery, textile chemicals, spare parts and accessories, etc.

New Tax Initiatives Reinforce Confidence of Textile Industry

To promote market confidence and assist enterprises to survive in the tough times, the Chinese government has been launching new tax initiatives and measures. On October 21, The Ministry of Finance and State Administration of Taxation announced that starting from November 1, 2008, export tax rebate rate for 3,486 commodities will be increased, comprising 25.8% of all taxable commodities of Chinese customs. As an example, export tax rebate rate of some textile products and apparels will be increased to 14%. Besides, the State Council has launched 10 measures for stimulating domestic demand. Starting from January 1, 2009, value-added tax (VAT) transformation reform will be implemented nationwide to all regions and industrial sectors. For example, VAT is directly deducted when enterprises purchase equipment. Meanwhile, VAT exemption on importing equipment and VAT rebate to foreign-funded enterprises on purchasing China made equipment are cancelled, and a universal 3% of VAT rate will be implemented to small-scale taxpayers, etc. The textile industry is expected to benefit from the new policy, and it is generally beneficial to textile machinery manufacturers too as purchase of equipment might be increased with the raising purchasing power of machinery buyers & users, and thus enhance the sales of machinery.

By grasping industrial condition and focusing on market needs, ShanghaiTex 2009, charactering with its professionalism, technologies and premier services, is striving to serve as an effective business platform for enterprises to launch their new products & technologies, build up their brands and explore new markets. With its silver jubilee in 2009, organizers of ShanghaiTex will further enhance & intensify the work on visitor promotion aiming to invite more industry professionals, leading corporations, associations & buyers to join the exhibition, to match the needs of exhibitors and visitors and to facilitate the development of textile industry.

ShanghaiTex 2009 - The Market Place for World Class Textile Machinery & Technologies - Attracting 120,000 Visitors

As the market place for textile industry with over 1,500 international exhibitors to display their latest machinery & technology, ShanghaiTex 2009 is expected to attract 120,000 visitors from all China and more than 40 countries & regions. This is a perfect platform for capturing business opportunities, trading, communicating, exchanging market information and technology with industry players.

ShanghaiTex 2007 (The 13^th edition) attracted nearly 110,000 visitors from 42 countries and regions, among which over 3,000 were from overseas, including India, Japan, Pakistan, USA, Korea, Bangladesh, Vietnam, Iran, Germany, Turkey, Italy, Uzbekistan, Thailand, etc. Delegations from India, Indonesia, Japan, Malaysia, Turkey, Saudi Arabia, Vietnam, etc also visited ShanghaiTex 2007.

ShanghaiTex 2009 is sponsored by Shanghai Textile Holding (Group) Corporation, China Council for the Promotion of International Trade Shanghai Sub-council and China Chamber of International Commerce Shanghai Chamber of Commerce, and is organized by Shanghai International Exhibition Co Ltd., Shanghai Textile Technology Service & Exhibition Center and Adsale Exhibition Services Ltd.

Interested parties please visit www.ShanghaiTexOnline.com for more information about ShanghaiTex 2009.

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Adsale Exhibition Services Ltd

For exhibiting enquiry, please contact

Tel:（852）2516 3354 / 3519 / 3341

Fax:（852）2516 5024

Email: [email protected]

Ms Eriko Chan / Ms Cello Chiu / Ms Iris Choi

Media and visitor enquiry, please contact:

Tel:（852）2516 3348 / 2516 3340

Fax:（852）2516 5024

Email : [email protected]