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Chinese goods increase market shares in major countries

08
Aug '09
Although there has been a very big decline in exports from China, market share of its products in several countries has increased and at the same time, foreign investment in its industrial sector has further optimized.

According to available statistics, in the first five months of 2009, the market share of Chinese goods in the United States, Japan and European markets increased by 4.1 percent, 3.6 percent and 3 percent, respectively, year-on-year.

In the first half, the fall in shipments from the textile and apparels sector was within 10 percent, far below China's overall export decline of 21.8 percent, thanks to the consecutive increase in tax rebates on textile exports.

China's foreign trade has experienced a tremendous impact from international financial crisis and as of June this year; exports recorded a decline for eight consecutive months, in the face of a dramatic shrink in external demand.

The Chinese government has taken many initiatives in finance, taxation, customs facilitation, trade structure optimization, as well as creating a favorable international economic environment, due to which the fall has not been so awesome.

Fibre2fashion News Desk - China


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