CHINA: Textile and garment industry trend looks good

Related stakeholders in textile and garment industry say that net profits of China's textile and apparel industry have remained at 3- 5 percent since the reform of RMB exchange rate in the past five years, behind which, there are many efforts made by enterprises.

The reform has not undermined the position of China's textile and clothing industry in international market, but has forced the industry to accelerate transformation and upgrading, therefore, overall development trend of the industry is good.

Compared with electronic products, technological content and added value of textile and garment industry is relatively lower, therefore the industry is more obviously affected by the RMB exchange rate and other factors.

Experts say that under the promotion of the exchange rate and other factors, polarization in textile and apparel industry is emerging after a round of brutal survival of the fittest, development opportunities are unequal, textile and garment enterprises with independent innovation and brands enjoy more obvious advantages, while low-end textile and garment enterprises face increasing pressures, some of them have to relocate into cheaper labor countries or regions.

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Added: July 22, 2010 Source: Agencies & CHH
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