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Consolidate & restructure – Main theme of 2010

27
Feb '10
China's textile and garment exports fell 8.61 percent in 2009, of which the decline of textile exports was smaller, while overall clothing exports increased. But per unit prices slid alarmingly, mainly due to the increased export tax rebates.

But getting into the second half of 2009, the growth decline of textile exports gradually narrowed, reflecting the beginning of rebound in the boom of global textile industry. Order positions too, improved in the last two months of 2009.

China's Central Economic Work Conference plans to continuously expand domestic demand and consumption demand in 2010. The domestic market growth is expected grow 20-25 percent in 2009.

In 2008, per capita expenditure on clothing by urban people was 1,165 Yuan, while per capita expenditure on clothing by rural residents was only 211 Yuan. Analysts point out that current annual growth rate of urbanization is about 1.5 percent.

The Government plans to send more products to rural areas in 2010, such as building materials, textiles and clothing. It will be significantly good news to China's textile enterprises if textiles can really penetrate the countryside.

Despite this fact, the industry will still face repeated volatilities for reasons such as, uncertainty in external economic recovery, the potential of increased trade friction, increased costs of various raw materials, RMB appreciation and tightening credit.

Experts point out that, the worst stage of this adjustment is over, recovery amid consolidation and restructuring will be main development theme of the industry in 2010.

Fibre2fashion News Desk - China


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