Home / Knowledge / News / Textiles / 'Correct fundamentals of crisis still not understood' - VP, CTIA
'Correct fundamentals of crisis still not understood' - VP, CTIA
26
Mar '09
Mr Sun Ruizhe
Mr Sun Ruizhe
According to Customs statistics, China's textile and apparel exports totaled US $185.16 billion in 2008 and at the same time, growth rate shrank from 26.28 percent at the beginning of the year to 8.18 percent, due to the economic crisis.

Textile exports touched $65.37 billion; apparel exports scored $119.7 billion, a growth rate of 16.6 percent and 4.1 percent, respectively. Textile export growth rate rose by 1.6 percent compared with 2007, while apparel exports rate fell 16.80 percent.

Vice-President of China Textile Industry Association, Mr Sun Ruizhe unscrambled the likely economic situation scenario in 2009 and said, “Even though 2008 export growth rates fell, no one has still understood the correct fundamentals”.

“There is still a need to grasp development trend of the textile industry at home and abroad, as well as changes in consumer demand, China should set up development model for the sector on basis of effective demand”, he added by saying.

He continued, "We should have confidence in the textile sector and according to my analysis, since the 90's, China's exports to the US and EU has maintained growth without particularly large fluctuations in these 18 years”.

“At the same time, supply from other countries like India and Pakistan has experienced large fluctuations. US, EU and Japan account for 60 percent of imports from the sector, and have formed a degree of dependence on the Chinese textile sector.

“This degree of dependence cannot be wished away or can be easily changed overnight due to the economic crisis, and the crisis does not change demand for daily necessities, but only affects the consumption pattern”, he explained.

“This requires us to do meticulous research on the buying habits, since consumer buying pattern has changed with less emphasis on the entertainment expenses and importance being given to pricing than ever before”, he continued by saying.

According to him, the first to be affected will be the high end stores, while discount stores like Wal-Mart will benefit from the crisis and this situation will boost exports of Chinese cheap and mass produced textiles and clothing.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mark Paterson
Technical Absorbents Ltd

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

Giorgio Mantovani
Corman S.p.A

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta
Sanjukta's Studio

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

Robert Brunner
Devereux

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

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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