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Rural population throws up huge opportunities
09
Oct '09
The textile and garment sector will be an important industry of people's lifestyle as well as livelihood for quite a long time in China's industrial structure. The huge 1.3 billion population is a huge consumer of goods churned out by the sector in the country.

China's per capita fiber consumption was 14.6 kilograms in 2007, 34 percent higher than the world average, but still quite behind developed countries, as per capita fiber consumption in North America is more than 38 kilograms, and it is 19.8 kilograms in Thailand, China's neighbor country.

In 2007, per capita clothing expenditure of China's urban residents was 1,042 Yuan while, per capita clothing expenditure of rural residents was 193.4 Yuan. The former was 5.39 times of the latter, which means huge opportunity in the rural areas.

Although the gap between urban and rural economic development is shrinking, textiles and apparel consumption in rural market will become a powerful driving force to expand domestic textile
market.

Chinese luxury goods market is still getting better while demand for luxury brands in Europe and the United States has shrunk during the financial crisis. At present, China accounts for 25 percent of global luxury goods market and for the first time surpassed the United States to emerge as the world's largest consumer of luxury goods.

Fibre2fashion News Desk - China

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