China : MoC optimistic about clothing exports in 2010

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MoC optimistic about clothing exports in 2010

30
Dec '09

The Minister of Commerce Chen Deming said that China's imports and exports witnessed encouragingly positive growth in November this year. Annual imports and exports are expected to be nearly US $2.2 trillion, a decline of about 16 percent year on year.

In 2010, China will announce new policies and measures to stabilize external demand, accelerate structure adjustment in foreign trade, change the mode of development, expand imports of domestic demand, promote export of services in important areas, strive to achieve the goal of " stabilizing market share, adjusting structure and promoting balance" in foreign trade.

Chen Deming said that commercial business will face extremely complicated situation in domestic and international markets in 2010, domestic economic recovery will continue to consolidate in 2010, but it will also face more pressure of structural adjustment.

Towards meeting those challenges, he has suggested four measures. Promote steady growth in exports; Speed up structural adjustment and change in development of foreign trade; Expand imports for domestic demand and promote exports of services in important areas.

China is a major garment exporter. Clothing exports are expected to total to 12.49 billion pieces in 2010 and overall shipments from the sector including clothing accessories are expected to reach US $36.65 billion, accounting for 13.8 percent of China's total exports, and 1/6th of global apparel exports.

In 2010, the Ministry of Commerce will implement a series of policies to stabilize exports, these policies will bring benefits to textile and garment export enterprises. Enterprises should make full use of SME support policies developed by the state, make efforts to change the existing mode of production, strengthen intellectual property rights, increase research and development efforts in high-tech and high value-added products.

Fibre2fashion News Desk - China

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