Chinese traders now have their eye on Taiwan-made towels, socks and innerwear owing to its better quality and creative designs; this is despite fears of dwindling international competitiveness of domestic traditional firms.
During a four-day trade exhibition held last month in Dongguan, Guangdong province, Chinese buyers placed order amounting to about 800,000 Chinese yuan (US $117,180) with the Taiwanese exhibitors present at the expo.
For the Chinese buyers, Taiwanese goods were of both better quality and well-designed and therefore during the expo, Taiwanese exhibitors witnessed sales beyond their expectations.
As the traders from China consider bamboo, charcoal and fibre very healthy and therefore during the expo too, they were found more inclined towards goods made from these materials. Post the Dongguan expo, order book for goods made from bamboo, charcoal and fibre is expected to touch about 5 million Chinese yuan.
The government intends to assign NT $95 billion (US $3 billion) during the next ten years to improve the traditional labour-oriented firms. This will also help them reorganise their processes and thereby, improve competitiveness.
However, there is still certain amount of worry that looms above the domestic textile sector pertaining to the financial damage that could occur if-and-when the complete implementation of economic co-operation framework agreement (ECFA) takes place.
Overall, the Dongguan trade expo has encouraged Taiwanese producers about considering China as a profitable market for its old-economy sector.
Fibre2Fashion News Desk - India