WASHINGTON — China has raised export tax rebates on hats, shoes and thousands of other items in a bid to help stabilize its ailing manufacturing sector, the Ministry of Finance said Monday.
The state-run news agency Xinhua reported that export rebates for shoes and hats were increased to 15 percent. This is the seventh time the central government has raised export tax rebates since August, Xinhua said. The most recent rebates apply to 2,600 items.
The number of pairs of shoes imported to the U.S. from China dropped 10.1 percent to 498.7 million pairs in the first quarter of the year, according to U.S. government statistics. Shipments of finished hats declined 5 percent in dollar value to $196.5 million during the same period.
A Ministry of Finance official told Xinhua that the decision to extend export tax rebates was an attempt to spur exports and domestic consumption.
“China’s exports still face difficulties in the short term,” said the official, Liu Shangxi. “The tax rebate increase would help exporters reduce costs and shore up exports.”
Exports from China have fallen precipitously this year, dropping 24.3 percent through April, Xinhua said, although the rate of decline for exports has slowed.
Xinhua said exports of textiles and apparel from China started to rise in the most recent two months, which could indicate that the drop in exports is leveling off. Earlier this year, the government rolled out a series of measures aimed at helping the ailing textile sector, including raising export tax rebates for that industry and unveiling a three-year economic stimulus plan.
Imports of textiles and apparel to the U.S. from China also have fallen this year, declining 3.2 percent in dollar value in the first quarter to $6.4 billion compared with the same period a year earlier.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast