Home / Knowledge / News / Textiles / Technologically superior companies able to buck trend of closure
Technologically superior companies able to buck trend of closure
05
Jan '09
Since the second half of 2008, private enterprises in Zhejiang Province are facing the biggest difficulties and challenges in history, due to the severe impact of the international financial crisis and dwindling export markets.

Trade and Industry Bureau in Zhejiang Province issued the latest report on the state of the private enterprises as on December 30, 2008, which showed that there were 22,000 private enterprises which had closed down in the whole of 2008.

This shut down figure is a six year high while the number of new registered enterprises fell to a 6-year low; however, the total number of registered companies still grew steadily. The number of newly registered enterprises outnumbered those that had closed down and new emerging business could be seen active in particular.

The total number of private enterprises reached 1,910,000, while those newly registered in 2008 touched 317,000, with 1,000 small employers born every day. There were also instances of enterprises shutting down overnight leaving the workers in the lurch.

In December, the number of companies that closed down suddenly or business owners disappeared in Zhejiang Province was 302 cases, while in November such events were only 99. From amongst companies that suddenly shut down in December, registered capital of 107 enterprises ranged from 1 million to 10 million Yuan, those from 10 million to 100 million Yuan were 35 companies while registered capital of 1 enterprise was above 100 million Yuan.

These failed companies ranged mainly from the exports sector and catering in traditional products. Most of these companies hailed from the textile and the clothing sector and these amounted to 116 companies of all those that suddenly shutdown shutters in December. The report went on to conclude that technologically superior and those companies involved in making value added products were able to buck this trend.



Fibre2fashion News Desk - China


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Thrace-LINQ expanding Dorchester County operations

Thrace-LINQ, a global supplier of fabrics for the textile industry,...

Courtesy: Levis

Fashion | On 26th Sep 2017

Google unveils smart denim jacket with Levi Strauss

Ending the months-long wait, Google has unveiled its smart denim...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Suresh Patel
Sidwin Fabric

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
75.5%
No
12.2%
Skip
12.2%

Total Votes: 49

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.3%
No
24.5%
Skip
12.2%

Total Votes: 49

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.8%
No
6.1%
Skip
6.1%

Total Votes: 49

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
71.4%
No
10.2%
Skip
18.4%

Total Votes: 49


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