CHINESE CLOTHING AND TEXTILE MANUFACTURERS SEE MORE ORDER LOSSES THROUGH 2012
August 1st, 2012
BY WANG FANGQING, IN SHANGHAI
Chinese textile and clothing manufacturers are expecting to struggle for business in the rest of 2012, with the worsening Euro crisis dampening demand in key export markets and improving sourcing rivals from neighbouring countries becoming increasingly competitive. Analysts also warn China's clothing and textile sector is continuing to lose competitiveness through the strengthening Chinese Yuan, combined with rising labour costs. "This year our output could fall 20% from 2011 due to order loss," warned Louis Jiang, sales ...
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