Chinese textile firms face export cut

摘要

Almost half of the Chinese clothes and textile companies questioned for a market research report have revealed that that they will slash their exports and sell more to the domestic market. China Cotton Textile Association's (CCTA) report on the country's cotton textile industry revealed that 44.4% of companies questioned planned to reduce their exports and sell more to the domestic market -and 16.8% said they intended to give up the overseas market altogether due to the weakening economic market. The research noted that market conditions had worsened in China due to its appreciating currency, which has led to a reduction of orders for Chinese textile exports, and fast growing labour costs that were triggered by the recently modified labour law, which came into affect at the beginning of the year.