Datang eye to become HQ Economy for hosiery

04 Sep '08
2 min read

The 'Hosiery Village' of Zhuji Datang, has reached an annual output enough to supply two pairs of socks for each person in the world. However, with the expansion of this region, the resources in Datang alone will not be adequate to ensure such consistent growth in the future.

Thus, the township, accounting for one-third of world's socks output, has proposed that Datang should be developed as a 'Headquarters Economy' for hosiery industry.

Headquarter Economy refers to the economic pattern where enterprise (regional) headquarters of the multinational companies, large domestic and listed companies are located in the regional centers or cities with highly-dense capital.

Technology and talent resources at these centres strongly impact the surrounding cities and even the world. The headquarter economy includes both headquarter enterprises and bases.

Thus, experts believe that this concept will promote the upgrading of entire industry, and help Datang Hosiery achieve a qualitative leap.

According to estimates, industrial clusters and advantages of industrial chain can reduce 1/4 - 1/3 of the cost.

The advantage of industrial clusters is the fundamental base of Datang Hosiery. In 2007 the entire area already had more than 11,000 enterprises, with an annual production of around 13.45 billion pairs of socks.

Now Datang Hosiery industry chain has reached its prime. Hosiery production process has been divided into 10 sectors, including more than 1,000 enterprises producing raw materials, over 400 dealers trading raw materials and 635 socks marketers. Datang Textile Hosiery City achieves an annual turnover of more than 7 billion yuan.

Fibre2fashion News Desk - China

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