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Home textiles – Chief contributor to price hike
11
Jul '08
Official statistics show that in the past seven years, per capita expenditure of Chinese residents on bedding went up from 20.43 yuan per person in 2000 to 44.66 yuan per person in 2006, representing a surge of 8.6 percent.

Experts believe that, people are rapidly gaining awareness about the high standard of living and aspiring for a healthy and comfortable lifestyle. This has expanded the overall domestic market, especially for textiles.

Average retail price index of domestic textiles from January to April was 104.3, recording year-on-year boost of 0.43 percent, where home-textiles has made a major contribution.

However, a number of textile enterprises have said that export to the US has weakened significantly, due to the influence of many unfavorable factors, such as RMB appreciation, continued rise in labour and raw material costs, as well as reduced market demand led by subprime credit crisis in the US.

Fibre2fashion News Desk - China

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