CHINA MAKES LESS PROFITS ON CLOTHING TRADE DESPITE SOARING EXPORTS
September 1st, 2011
BY WANG FANGQING
IN July, the monthly export value of textile and garments from China hit a record new US dollar USD25.9 billion, up 25% year-on-year, according to China Customs. It was not a surprise given that China earned USD122.7 billion in the first half (H1) of 2011, almost equivalent to the whole amount it made in 2005. Orders from the European Union (EU) contributed 19.8% in H1 2011, followed by the USA and Japan with 13.2% and 9.7% respectively. However, sales hikes do not necessarily mean big profits, noted Li Yu, general manager at Tianjin-based New ...
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