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T&G companies display exuberance & confidence – Experts
19
Jun '09
At the Tenth Chinese Textile and Apparel Trade Exhibition held in New York recently, it was noticed that enterprises from the sector are dealing with major changes in global markets and are adopting a more mature approach in the grim global financial crisis.

Vice-President of China Textile Industry Association, Zhang Kai pointed out that from carrying out simple processing operations and doing just job working for overseas brands, the companies have moved on to designing their own products.

The R&D strength and brand awareness of Chinese enterprises are also growing. Chinese enterprises are also more quickly adjusting their production schedules and trade strategy and adapting changes brought about by the changed economic environment.

This exhibition has attracted some buyers from the United States and Canada. Many of them are old customers of Chinese companies, which goes to show the strong interest that Chinese textiles and apparels are still able to generate in the North American markets.

Some exhibitors, though admit that, the economic crisis has reduced their orders by over 30 percent, while increases in domestic raw material prices and labour costs has further suppressed their profit margins.

But many experts also believe that after this round of shuffle, due to the impact of the economic turmoil; the surviving enterprises will be healthier and more competitive, which will prove to be a very good thing in the long run for the sector.


Fibre2fashion News Desk - China

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