Home / Knowledge / News / Apparel/Garments / China to construct 'China City Complex' in Thailand
China to construct 'China City Complex' in Thailand
12
Jan '11
China had entered into a free trade pact with the Southeast Asian countries in January 2010 pursuant to which the Chinese traders enjoy a zero or low duty access in these countries for their exports.

The country now intends to construct a vast commercial complex – China City Complex in Thailand with an investment of $1.5 billion. The complex would be set up on an area of 5.4 million square-feet that is 500,000 square-meters in the fringes of Bangkok, and is believed to house over 70,000 Chinese traders.

Construction of this complex is planned to start from March 2011 and is scheduled for completion within 18 months thereafter. Various China made items like ornaments, household products, garments, etc. would be sold at the complex.

Once the complex starts, the Chinese traders would be able to sell their goods to people from different parts of the world through Thailand, which would help them to save the heavy duties that they need to pay on their exports to many of the countries, particularly western countries like the Europe and the US.

The initiative is also seen to help China to cut down its trade deficit with these countries, which touched $16.8 billion with the U.S. and $13.6 billion with the EU in November, 2010.

By and large the global recession has not had much effect on China's trade which kept registering healthy growths. Also, driven by the rise in the sales to other developing nations which are reviving from the effects of the economic slump at a greater pace than the EU and the US, China's exports for the month of November 2010 registered a rise of 34.9 percent to touch $153.3 billion from that registered a year ago.

But then the extra stocks lying with the EU and the US, the major importers of Chinese items have become a cause of concern and are thus inducing the traders to search newer ways to infiltrate in these markets.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X