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Qingdao Govt takes steps to lift leather industry
26
Aug '08
Since the beginning of this year, textile and clothing industry in China has started weakening rapidly, especially the apparel made of leather.

Reportedly, in Qingdao city, export value of leather products has slid by over US $40 million and around 223 local leather products manufacturers were forced to close down due to financial crisis.

Fortunately, Qingdao Government has recognized the gravity of the situation and has decided to take some aggressive measures.

Authorities announced that meetings and conferences will be organized, so that the experts can discuss and resolve issues hindering the development of foreign trade. They will also propose views and procedures to promote international business.

Officials also said that financial support will be provided through subsidies, export rebate, export credit insurance and other such schemes. Assistance will be provided so that companies can establish their brands and venture into E-business. This will definitely help reduce overall cost.

Appropriate innovation system in foreign-trade will be set up, in order to raise competitiveness of export products in the global market.

Government plans to encourage export enterprises to shift to areas in China where production cost is low. Such enterprises will be offered certain support to acquire land, organize employment, as well as manage oil and power issues in the region.

Officials stressed that this will not only reduce expenses of the companies but also promote balanced development among different regions.

Fibre2fashion News Desk - China

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