China may resume tax incentives for textile exporters

China may consider resuming tax incentives for textile exporters, said Zhang Xiaoqiang, vice director of the National Development and Reform Commission (NDRC) at a trade conference in Beijing on Sunday.

Many textile export-oriented companies are on the verge of bankruptcy, as RMB appreciation dampened China's textile exports prospects, Zhang was cited as saying. China's textile products are losing markets among foreign buyers because of the RMB appreciation against the U.S. dollar.

The projected plan is aimed to help textile exports to survive amid rising costs. The government cut rebates on exports last year, including textiles, toys and steel products, in a bid to lower energy consumption and ease trade conflicts with the U.S. and Europe.