National Development and Reform Commission (NDRC) recently released its forecast for textile industry of China. It is estimated that, in 2008 growth rate of domestic textile industry will decline to some extent.
Experts believe that, every one percent of RMB revaluation will cut down nearly 0.3 to 0.4 percent points in growth rate of garment export. As a result, the nation may have to face most difficult times in near future.
The statistics show that, China's total textile and apparel export reached around US $171 billion last year. The exports from Guangdong Province ranked top among all provinces, showing an increase of 18.7 percent.
However, Guangzhou Customs analytical report suggests that, this year will not be so optimistic in terms of export. As clothes exports from Shenzhen, showed a decline of 10.4 percent in the month of January.
Fibre2fashion News Desk - China
marketing@alchempro.com
