Home / Knowledge / News / Apparel/Garments / 'Global brands too dear in China' – Govt
'Global brands too dear in China' – Govt
28
Mar '11
China has taken a serious note of a very big difference in prices of some high-end consumer goods like apparels and accessories between domestic and overseas markets.

The Ministry of Commerce recently conducted a price survey of selected high-end consumer goods and revealed this fact. As per data provided by the government, international brands made in China are sold in the Chinese markets at 30 to 60 percent higher prices than the overseas markets.

Watches, luggage, clothing, liquor, electronics products are sold at higher prices in domestic prices compared to overseas market. Among these categories, average sales prices of 20 premium brands in China's domestic market are nearly 45 percent higher than Hong Kong prices.

The gap widened, when compared to other countries. It was 51 percent higher than in the United States and 72 percent higher than in France.

The government has started taking measures to curb the irregularities resulting in such a big gap as it affects Chinese people badly. Due to this price gap, Chinese going abroad prefer to purchase from the overseas markets rather than domestic markets.

Ministry of Commerce spokesman Yao Jian, accepted that the price gap of high-end consumer goods became more prominent recently. He described it as unreasonable and unfair to Chinese people. He called on international brands to sell at fair and reasonable prices in Chinese markets.

Every year a large number of Chinese tourists go abroad and purchase foreign goods from the overseas markets. Even if an individual purchases international brands made in China worth US $1,000 from the overseas markets, tens of billions dollars are drained away.

It results in a big loss of import revenues too. It constitutes a substantial part in imports but can not be taxed, resulting in a big revenue loss to the government. For the same reason, it creates an inaccurate data of Chinese import and export trade too.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Apparel/Garments | On 24th Feb 2017

Q4FY17 EPS dips 11% at apparel retailer Macy's

For the thirteen weeks period ended January 28, 2017, earning per...

Textiles | On 24th Feb 2017

Net income slips at Westlake Chemicals in Q4

For the three months ended December 31, 2016, net income at US...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search