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MOC: Investing in China's Textile & Garment Industry is Promising in Post-crisis Time
Source: cntex Date: 2009-11-18
Chen Jian, the Vice Minister of Ministry of Commerce, said in 2009 China International Textile & Garment Trade Development Forum on Oct. 28th that this industry had effectively fought back the global financial crisis and investing in China??s textile and garment industry was prromising in post-crisis time.
Textile and garment industry is one of the most competitive industies in China. The state-own statictics-worthy enterprises (whose annul sales income beyond five million yuan) only accounted for 5% of the sum. Private and foreign-invested enterprises are the main part of this industry. China is also the largest textile and garment consumption market over the world. The per capita fiber consumption is 28% higher than the international average level. High-end textile and garment products have great potential in China. This provides an opportunity for overseas big brands.
Chen Jian said the salary of this industry in east coastal area was only 1/3 of that in Turkey. The salaries in west China was even lower. Then China has the great geographic space and could enjoy the advantage of internal industry transferring.
Textile and garment industry is one of the most competitive industies in China. The state-own statictics-worthy enterprises (whose annul sales income beyond five million yuan) only accounted for 5% of the sum. Private and foreign-invested enterprises are the main part of this industry. China is also the largest textile and garment consumption market over the world. The per capita fiber consumption is 28% higher than the international average level. High-end textile and garment products have great potential in China. This provides an opportunity for overseas big brands.
Chen Jian said the salary of this industry in east coastal area was only 1/3 of that in Turkey. The salaries in west China was even lower. Then China has the great geographic space and could enjoy the advantage of internal industry transferring.
