Informed from the 88th China Cotton Knitwear Trade Fair, new changes occurred on economic running of China's textile industry.
Affected by textile and apparel restrain carried out by Europe and US, increase of textile and apparel export went on a decreasing tendency that sales in domestic market surpassed foreign market. In addition, fixed investment in textile industry kept increasing this year and experts reminded to beware of superfluous production.
According to the statistics from Customs, from January to July, export of apparel and clothing accessories at Shanghai Port was US$18.21bln, up by 9.5 percent, increase rebounded by 14.7 percent. Out of which, export to US was US$3.99bln, decreased by 8.4 percent.
Ma Kening, Vice Manager of China Textile Commerce Association, said due to unstable foreign trade environment and reducing profit, enterprises engaged in foreign textile trade were compelled to turn to domestic market to avoid foreign trade risk. As the biggest textile exposition for domestic market, China Cotton Knitwear Trade Fair opened in Guangzhou on August 17.
Over 200 textile manufacturer from various departments like underwear, apparel and fabrics would join the exposition and explore domestic market in autumn.
"Meanwhile sales price index in domestic market drops," said Ma Kening. As the changes of textile sales in domestic market surpassing foreign market this year, enterprises with international apparel brand accelerated to enter China's market.
Newly increased competitors mainly gathered in middling and top apparel market which intensified market competition of domestic apparel brand and caused decrease of readymade garments price index.
Ministry of Commerce of the People's Republic of China
marketing@alchempro.com
