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Shishi City exporters hunt for newer trade destinations
09
May '08
In the first quarter of 2008, Shishi City exported clothes worth US $31.61 million, registering an increase of $5.40 million compared to the previous year. However, experts believe that because of RMB appreciation, real profits have been reduced by nearly 10 percent.

According to the statistics of 2007, the cumulative export value of 38 export enterprises of Shishi City amounted to $106.94, accounting for 43.3 percent of the total export made by the city. Middle East, Europe, America and Japan emerged as the key export destination for China.

It has been increasingly observed that foreign clients have started placing small orders instead of the huge ones placed earlier and reason for this can be none other than the unceasing appreciation of RMB. As a consequence, export oriented enterprises have been impregnated with disinterest in trading goods.

Others, however, have switched over to countries offering a better trade proposition like Europe and Japan since their currency stands stronger than US dollar.

Fibre2fashion News Desk - China

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