China Round Up
(Contd. from page 2...)
Currency: Chinese currency is called Renminbi (RMB) (means "People's Currency"). The popular unit of RMB is Yuan. The official exchange rate between U.S. Dollar and Renminbi Yuan currently is about 1 : 8.3 (1.00 Dollar = 8.30 Yuan).
Garment Industry in China
In 2005, China's garment makers predicted that the country's garment exports will exceed the mark of 120 billion US dollars. Industry insiders remained optimistic in the face of trade investigations by the European Union and the United States. Today, according to the China National Textile and Apparel Council’s recently issued 2005-2006 Annual Report on China's Textile Industry the total profit of garment companies above designated size grew by up to 33.09 percent in 2005, the fastest-growth-year during the Tenth-Five Year Plan period. Resorting to the advantages of market, resource, brand and technology, some companies or groups with good performance kept their expansion to become the leaders of the industry and speeded up their internationalized steps. Meanwhile, some SMEs, due to their small scales and their dependence on domestic or overseas middlemen to obtain orders, seriously lack the capability in exploring new market and resisting risks.
According to the investigation by China National Garment Association, the total actual output of garments reached 46.5 billion pieces in 2005, up 11.2 percent compared with 2004, among which 17 billion were weaving garments and 29.5 billion were knitting ones. In 2005, the total exported value of garments increased by 19.9 percent and the total exported volume by 8.1 percent, which indicated the increase of the value was 11.8 percentage points higher than that of the volume. The "White Paper on China's Textile" pointed out, the overall competitiveness of the textile industry has been further strengthened and the added value of exported textile products has been improved that Chinese garment companies have secured a certain place in the international middle and high- end market; a group of renowned brands in the domestic market have emerged; the structure of the textile industry has been readjusted and the concentration for export production has been increased.
Prev 1 2 3 4 5 Next
Buy
Sell