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| Monday, 20 September 2010, 08:42 HKT/SGT | |
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BEIJING, Sept 20, 2010 - (ACN Newswire) - Chinaqualitycrafts.com, one of China's leading B2B search platforms, reports renmingbin appreciation affected textile clothing export.
RMB appreciation will give export-oriented textile and clothing industry caused negative influence, chinaqualitycrafts.com expected that this year, in the fourth quarter, China's textile and apparel industry export growth will slow down. However, due to the domestic strong consumption demand, textile and apparel industry vigorous recovery of trends will not change. Chinaqualitycrafts.com forecasts that in the future the RMB appreciation trend will continue.
Chinaqualitycrafts.com analyzes that renminbi appreciation would cause certain negative impact on China's export, while the textile and garment industry has high external dependence, which is sensitive to the RMB exchange rate changes, especially within the industry has a lot of small and medium-sized textile enterprises, due to the lack of bargaining power, can tolerate the appreciation range is small, and therefore the whole industry's export will be affected by RMB appreciation.
The renminbi appreciation, relative to improve our textile and garment cost and quote, in which to a certain extent lost our products in the international market low price competition advantage and export will be restrained. Part of the strong bargaining power enterprise will through increase price transferred part of upward pressure, while without competitive enterprises will suffer impact.
Chinaqualitycrafts.com measuring that the RMB appreciation of 1%, textile net profit margins will be reduced by 1%, and this for low profit textile industry, will further compression its profit space.
Chinaqualitycrafts.com forecasts that in the fourth quarter of this year, the export of textile and apparel industry will slow pace of recovery.
However, despite the textile and apparel industry boom of the future, but for the rising prices of raw materials and labor costs that make textile clothing enterprise' cost growth far beyond revenue growth, especially, the small and medium-sized enterprises profit space is shrinking. If the renminbi continue to rise, more and more enterprises will be eliminated.
About Qualitydress.com
Qualitydress.com is a promising e-commerce company and a leading vertical search engine company in China. Qualitydress.com ( www.chinaqualitycrafts.com/products/) offers a variety of high quality products such as clorox ready mop ( www.chinaqualitycrafts.com/buy-clorox_ready_mop/), fellowes binding machine ( www.chinaqualitycrafts.com/buy-fellowes_binding_machine/), solar powered umbrella ( www.chinaqualitycrafts.com/buy-solar_powered_umbrella/) and many more.
For more information, please contact:
www.chinaqualitycrafts.com
Tel: +86-10-65569770
Email: my@ chinaqualitycrafts.com
SOURCE: www.chinaqualitycrafts.com
Topic: Press release summary
Sectors: Fashion & Apparel, Enterprise IT, IT Individual
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From the Asia Corporate News Network
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