China's garment exports declining
China's exports of garments have slowed down significantly this year as weak demand and rising costs have hit the industry, according to the latest data.
The value of China's garment exports gained 5.79 percent year on year to $100.23 billion during the Jan -July period, retreating 7.71 percentage points from the rate seen in the same period last year, figures released Thursday at an industry forum in Xinjiang showed.
Chen Dapeng, deputy head of the China National Garment Association, said competition from neighboring countries such as Vietnam, Cambodia and Indonesia is pushing down demand for Chinese products, while rising costs and insufficient re-sale value have also made them less attractive.
"Meanwhile, China remains heavily reliant on developed markets, " Chen added, describing the slowdown as a "new norm" for the industry that requires manufacturers to be more innovative and tap more emerging markets.
Chen Dapeng, deputy head of the China National Garment Association, said competition from neighboring countries such as Vietnam, Cambodia and Indonesia is pushing down demand for Chinese products, while rising costs and insufficient re-sale value have also made them less attractive.
"Meanwhile, China remains heavily reliant on developed markets, " Chen added, describing the slowdown as a "new norm" for the industry that requires manufacturers to be more innovative and tap more emerging markets.
