Home / Knowledge / News / Textiles / Technologically superior companies able to buck trend of closure
Technologically superior companies able to buck trend of closure
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

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Textiles | On 20th Jan 2017

Xeros to focus on textile sector to develop technology

Xeros technology group plc, the developer and provider of patented...

Apparel/Garments | On 20th Jan 2017

Nine West acquiring womenswear marketer Kasper Group

US based footwear, accessories and denim company Nine West Holdings...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Suresh Patel
Sidwin Fabric

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

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


Browse Our Archives


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