China: Exports through Guangdong Port rise 34% in 2007
14/03/2008 - 15:01
Furniture exports through Guangdong Port in 2007 rose 34% to USD9.3 billion, 40% of the national total. Furniture exports through Guangdong are generally exported to the US and the EU, which receive 60% of the total furniture exports from Guangdong. Furniture
exporting enterprises are looking for new opportunities in
ASEAN markets. Furniture exports to ASEAN markets
have increased 120% to USD120 million in 2007.
China Customs has reported that foreign capital furniture
enterprises make up 50% of furniture enterprises in
Guangdong. However, private enterprises have developed
rapidly, with the furniture export value of private
enterprises rising 52% to USD2.58 billion in 2007.
Although furniture exports have been growing, furniture
production and processing enterprises have faced pressure
as a result of national policies established in 2007. One
was the tax rebate policy, under which tax rebates for
furniture being were reduced from 13 to 9% and wood
products to 5%. The other was a change brought about by
the Chinese government to revise a catalogue of prohibited
commodities in the processing trade to include 17 kinds of
furniture such as bedroom furniture of lacquered wood and
other furniture of rosewood.
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