Textile and Apparel Weekly EXTRACT

January 28, 2011

Content: Yarn maker to expand in China Grove Rising labor cost may affect flow of FDI, says Nomura United States to open product safety office in Beijing China faces serious trade disputes: vice minister Trade spat heating up in 2010 GDP "to slow this year" Chinese shares fall on inflation, monetary policy tightening fears Cotton soars to Record as Chinese Demand Surges, Global Production Wanes Cotton set to extend gains in China in 2011 China Textile & Clothes Export Surpass 200 Billion USD in 2010 China Clothes Sales Rising 7.22% in Nov. 2010 China's economy expands faster in 2010, tightening fears grow

Yarn maker to expand in China Grove

DATE: 2011-01-28

Tuscarora Yarns' decision to expand in China Grove could mean jobs for unemployed textile workers, Mayor Don Bringle said. With this being a textile trade and this being a textile community, I'm very excited, Bringle said. With a small amount of training, many textile workers in Rowan County likely could fill one of the 124 new jobs Tuscarora Yarns will create in China Grove, Bringle said. Gov. Bev Perdue announced Tuesday that Tuscarora Yarns, a worldwide leader in the manufacturing of heather and mlange yarns, will open a new facility in Rowan County. The company plans to invest $6.3 million during the next three years in China Grove. The project was made possible in part by a $146,000 grant from the One North Carolina Fund, which requires local matches. Both the China Grove Board of Aldermen and the Rowan County Board of Commissioners approved incentives to lure the expansion of the 111-year-old company. It means economic impact to our community and new money coming in to our area, Bringle said. Tuscarora Yarns will move its existing China Grove operations from 406 N. Main St., where 57 people work, to the former Hanesbrands building at 308 E. Thom St., which is larger and more modern. Bringle said he is pleased the Hanesbrands building will not stand empty. So many textile buildings in North Carolina become eyesores, he said. Tuscarora Yarns has operated yarn manufacturing mills in North Carolina since 1899. The company produces a variety of yarns for applications such as sportswear, underwear, hosiery, sweaters, home furnishings and automotive components. Our China Grove location has served well for the past 25 years, Martin Foil Jr., CEO of Tuscarora Yarns, said in a statement, Increasing our investment through new equipment, machinery along with new jobs will allow exciting opportunities at this new location. Salaries will vary by job function, but the average annual wage for the new jobs will be $27,334 not including benefits. The Rowan County average annual wage is $36,036. While working in Stanly County, Robert Van Geons said he experienced firsthand that Tuscarora is committed to delivering quality products to their customers. Their reputation as a manufacturer who stands behind their product is well-deserved, Van Geons, executive director for RowanWorks
Source: China Textile Network Company

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Economic Development, said in an e-mail. This is a company that consistently finds new ways to compete in the global marketplace. When they make a commitment, they deliver. As economic incentives, China Grove and Rowan County will refund 75 percent of the company's property taxes on new investment for five years. When Rowan County commissioners approved the incentive grant in December, they tacked on an addendum intended to protect the county's investment. If the company ceases operations or eliminates the majority of its workforce, it will be required to repay all grant proceeds received in the past three years. The addendum came on the heels of PGT's surprise announcement that the windows manufacturer will leave Rowan County in the middle of a five-year incentive agreement. The state's incentive program, the One NC Fund, provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. Tuscarora Yarns is accepting job applications at 308 E. Thom St. from 1 to 4 p.m. Mondays and 8:30 to 11:30 a.m. and 1 to 4:30 p.m. Tuesdays through Fridays.
Source: Emily Ford via CNTEX

Rising labor cost may affect flow of FDI, says Nomura

DATE: 2011-01-28

China's fast rising labor costs are likely to affect the flow of foreign direct investment (FDI) and will make the country's labor-intensive manufacturing industry face more intense competition from other Asian economies, Nomura Securities said in a report. "For some labor-intensive manufacturers, China's wage level is no longer attractive. The manufacturing factories will likely be moved to China's inland provinces or to countries such as Vietnam, Thailand and Indonesia where labor costs are much lower," Nomura Securities said. Nomura expected the pace of China's wage increase to exceed the Association of Southeast Asian Nations in the mid-term, which will change the pattern of foreign direct investment in Asia. Despite the significant wage increases, China's manufacturing sector has continued to attract FDI inflows over the past several years. In fact, FDI in the manufacturing sector still accounts half of the total FDI in the country, Nomura Securities said. But economists warned that such trend may start to shift as China gradually loses the advantages of its cheap work force given the expectation of further wage increases and the yuan's appreciation. Local governments in China have announced plans to raise the standard minimum wage, with Beijing and Jiangsu province raising it by 21 percent and 18.8 percent respectively, this year. The central government also said in its 12th Five-Year Plan (2011-2015) that it will significantly raise the percentage of wages in the national household income in order to raise the proportion of consumption in the overall economy. According to Robert Subbaraman, chief Asia economist for Nomura Securities, China should quicken its pace of economic restructuring by boosting consumption and reduce its reliance on investment. Currently, investment is close to half of the country's GDP. "We are happy to see that China's consumption is picking up, and it should be a key driver for growth in the following years," said Subbaraman. "However, consumption-led growth will probably increase China's inflationary pressure." "As the factors driving up inflation this time are more broadbased and the pressure for wage growth is building because of labor shortages, we believe China's inflation will stand at 4.5 percent this year and grow to 5 percent next year," said Subbaraman. China's consumer price index (CPI), a main gauge of inflation, rose to a 28-month high of 5.1 percent in November. The growth was mainly driven by an 11.7 percent surge in food prices, which accounts for one-third of the basket of goods used to calculate the country's CPI. The December CPI rate dropped to 4.6 percent, with food prices rising 9.6 percent, government data showed. Lu
Source: China Textile Network Company

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Zhengwei, senior economist at Industrial Bank Co, forecast that CPI would accelerate to 5.3 percent this month, outpacing November's figure. "To curb inflation, the government needs to improve the Total Factor Productivity by boosting the efficiency of labor and capital, besides employing tightening monetary policies," said Subbaraman. Nomura expects China's GDP growth to reach 9.8 percent this year and slow slightly to 9.5 percent in 2012.
Source: China Daily via CNTEX

United States to Open Product Safety Office in Beijing

DATE: 2011-01-27

The U.S. Consumer Product Safety Commission is expected to establish its first external office later this year in Beijing to assist with the education and policing of unsafe products reaching American consumers. Inez Tenenbaum, head of the CPSC, said on Monday that choosing China for the organization's first overseas office made sense because 45 percent of the consumer products sold in the United States and 90 percent of all toys come from mainland China. The Commission is expected to have just two staff to begin with a secretary and a product safety specialist. The brief will be to prevent sub-standard manufactured products from reaching U.S. shores and also to educate Chinese businesses about U.S. safety standards and laws. The main issues concerning the United States at present are the continuing use of lead paint in childrens toys, and the dry wall scandal that saw Chinese-manufactured dry wall emit noxious gases as part of construction materials used in some U.S. homes, mainly in Florida and Louisiana. Some 13 Chinese manufacturers were traced as being responsible; however none have been persuaded to provide compensation despite official U.S. government pressure on Chinese officials to have them do so. Tenenbaum also stated that the office's purpose would be to prevent product recalls by preventing problems from occurring in the first place. She is due to meet with Chinese officials from the General Administration of Quality Supervision, Inspection and Quarantine later this week.
Source: CTEI News

China faces serious trade disputes: vice minister

DATE: 2011-01-27

China remained a major victim of trade protectionism during the past year, witnessing 64 trade disputes in this period, covering some 7 billion U.S. dollars in value, China's Vice Commerce Minister, Zhong Shan, said here Wednesday. The country faced trade disputes with both developed countries and developing ones, which came from not only traditional sectors but also high-tech industries, he told a national conference on trade promotion. For the short- and mid-term, China would work to maintain a stable growth in foreign trade and keep the growth rate higher than both the global level and China's economic growth, he said. China would also strive to achieve a more balanced trade structure by boosting imports and outbound investment, to strengthen the quality and efficiency of foreign trade, he added. China's foreign trade last year jumped 34.7 percent year on year to more than 2.97 trillion U.S. dollars, while its trade surplus fell 6.4 percent to 183.1 billion U.S. dollars.
Source: Xinhua via CNTEX

Source: China Textile Network Company

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Trade Spat Heating up in 2010

DATE: 2011-01-27

Anti-dumping investigations and measures Last year 40 initiations of new anti-dumping investigations relating to the textile and apparel sector were made on Chinas exports. The number of initiations remained unchanged compared with the numbers reported for 2009. The Members reporting the highest number of new initiations during Jan. - Dec. 2010 were the United States, reporting 11 new initiations, followed by India, reporting 7 new initiations, the European Union and Turkey (5 each). Concerning reporting the highest number of new initiations on Chinas exports in recent years, India came at the top of the list. The data reported above are taken from the report of the PRC Ministry of Commerce. "Dual" investigation settled The President Obama appears to be using protectionism to further his true agenda, with little regard for the unintended and potentially serious economic consequences. Obama surely knows the consequences, but it does not matter. This is all about achieving his agenda of transforming the United States. Fortunately, President Hu's current visit, upon the invitation of President Obama, should become one giant step towards enduring peace and sustainable development everywhere regardless of geography, religion, or socio-economic condition. Washington time on July 13, U.S. Department of Commerce's final ruling finally made the narrow ribbon "dual" investigation settled. As the only respondent companies in mainland China, Xiamen Yao Ribbon Ornament Co., Ltd. "almost perfect to win", but also essentially to win an exclusive ticket to enter the U.S. market. WTO-TBT While trade barriers of the past - high tariffs and quotas imposed on imports - have been greatly reduced, less obvious impediments normally referred to as non-tariff barriers (NTBs) have in many cases replaced them. The number of TBT notification relating to the textile and apparel sector announced through WTO was 30 in 2010. WTO Technical Barriers to Trade Agreement (TBT) tries to ensure that regulations, standards, testing and certification procedures do not create unnecessary obstacles. To help ensure that this information is made available conveniently, all WTO member governments are required to establish national enquiry points and to keep each other informed through the WTO around 900 new or changed regulations are notified each year. Notification from Health Canada The number of notification on unsafe Chinese textile and apparel products through the Health Canada was 23 cases in 2010. 7 cases notified in 2009 and 5 cases notified in 2008. The products most frequently affected by these new notification during 2010 were in the children's wear sector. One of the most important considerations when designing children's wear is product safety, presenting an extra challenge to brands looking for international expansion. Safety standards and risk assessments vary widely between China and Canada. There is a lot of commercial pressure to enter new retail markets but Chinese makers need to be prepared and be aware of all the legal requirements. CPSC Notifications The number of notification on unsafe consumer products from U.S. Consumer Product Safety Commission (CPSC) was 402 cases in 2010. 218 cases notified through CPSC come from China mainland. Of which, textile and clothing were the most frequently notified products, with 37 notifications in 2010, up 54.17%. The products most frequently affected by these new notification during 2010 were in the children's wear sector.

Source: China Textile Network Company

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Latest news show that the U.S. Consumer Product Safety Commission is expected to establish its first external office later this year in Beijing to assist with the education and policing of unsafe products reaching American consumers. RAPEX Notifications The number of notification on unsafe consumer products through the EUs rapid alert system for non-food dangerous products (RAPEX) rose to 2008 cases in the year 2010. 1149 cases notified through RAPEX come from China mainland. Of which, textile and clothing were the most frequently notified products, with 304 notifications in 2010, up 42.72%. RAPEX is a Community rapid alert system for dangerous products. Every Friday, the Commission publishes a weekly overview of the dangerous products reported by the national authorities, which gives readers all information on the product, the possible danger and the measures that were taken by the reporting country. A recent EU market surveillance exercise checked in particular the safety of children's clothes with cords and drawstrings, with which there can be a risk of strangulation, especially for children up to 7 years. Market surveillance authorities in 11 EU Member States inspected more than 16,000 such garments between 2008 and 2010, and the results published by the European Commission show that 1 in 10 items were in breach of safety requirements under the relevant European standard. The primary purpose of the joint action by Member States was to ensure that children's clothes placed on the EU market are safe with regard to cords and drawstrings, according to the requirements of the European standard EN 14682. The European standard EN 14682 contains specific requirements on the presence and features of cords and drawstrings. Requirements in the standard are divided in two main categories, according to the age of the children: Children up to 7 years - corresponding to children with a height up to 134 cm; and Children 7-14 corresponding to a height greater than 134cm and up to 182 cm for boys or 176 cm for girls. What can we do? China is now developing to a more free and open market, the market in China is more willing to embrace the global competition. China is one of the countries that have the cheapest labourforce. We have little control over the protectionism, yet we can do something in intellectual property to better protect our export-related textile businesses against protectionism. Now it is a common consensus among the industry that enhancing management and protection of intellectual property is of great significance to maintain the interests of rights holders and companies involved to upgrade businesses and ensure the healthy growth of the entire industry.
Source: CTEI News

GDP "to slow this year"

DATE: 2011-01-25

The country's gross domestic product (GDP) growth is expected to retreat to 9.8 percent this year, with inflation likely to be under control at 3.7 percent, a government think tank said on Saturday. "Tighter credit and a higher economic growth base in 2010 will drag down the 2011 GDP growth figure," a report released by the Center for Forecasting Science of the Chinese Academy of Sciences said. "Next year, domestic demand will replace investment as the main driver of the Chinese economy," it said. China's 2010 GDP growth increased by 10.3 percent year-on-year, rapidly rebounding to double digits within three years of the global financial crisis' onset. It was 9.6 percent in 2008 and 9.2 percent in 2009, National Bureau of Statistics' (NBS) figures released on Thursday showed. JPMorgan Chase predicted China's GDP growth will decrease to 9.6 percent in 2011, while the World Bank said the world's second-largest economy's growth is expected to ease to 8.4 percent in
Source: China Textile Network Company

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2012 amid credit-tightening measures to combat inflation and surging property prices. The Chinese Academy of Sciences' report also predicted the consumer price index (CPI), a main gauge of inflation, will decrease to 3.7 percent this year, while the producer price index (PPI), a measurement of inflation in wholesale prices, will be at 4.6 percent. The rate of property price increases is also expected to slow. The average is predicted to be 5,711.51 yuan ($867) per square meter, a 12.77percent increase over last year, the report said. Drastic measures taken by the central government last year are showing results. Property prices in major cities are stable. And "the impacts of regulatory real estate market measures will be examined this year", Dong Jichang, a professor with the institute, said. The think tank also said inflation is expected to reach its highest level in the first quarter of the year as a result of rising commodity and property prices. In 2010, CPI reached 3.3 percent, exceeding the 3-percent target. It rose to 5.1 percent in November, the highest in more than two years, before dropping to 4.6 percent in December. Since January 2010, the People's Bank of China, the country's central bank, has raised the benchmark interest rates twice and the reserve requirement ratio seven times amid concerns about excess liquidity. Chinese banks lent 7.95 trillion yuan ($1.21 trillion) last year, central bank figures showed. Although it was 1.65 trillion yuan beneath the 2009 level of 9.6 trillion yuan, it still was greater than the government-determined full-year ceiling of 7.5 trillion yuan. In addition, measures aimed at increasing food supplies, together with oversupply in the manufacturing sector and the appreciation of the yuan, will curb inflationary pressures later in the year, the think tank said. Yale School of Management professor Chen Zhiwu predicted the central bank will increase benchmark interest rates again early next month and let the yuan appreciate about 3 percent this year to fight inflation.
Source: Xinhua via CNTEX

Chinese shares fall on inflation, monetary policy tightening fears

DATE: 2011-01-25

Chinese stocks weakened Monday as concerns about inflation and monetary policy tightening dented investor confidence. The benchmark Shanghai Composite Index fell 0.72 percent, or 19.57 points, to 2,695.72 points. The Shenzhen Component Index dropped 1.30 percent, or 151.04 points, to 11,488.92 points. Combined turnover shrank to 160.9 billion yuan (24.42 billion U.S. dollars) from 172.7 billion yuan the previous trading day. Losers outnumbered gainers 649 to 224 in Shanghai and 945 to 192 in Shenzhen. Inflation and interest rate hike fears prompted the selloff, Investoday Securities analyst Tan Yongbo said. China Life Insurance Co., the country's largest insurer, dropped 0.86 percent to 20.83 yuan per share. Ping An Insurance (Group) Co., China's second-largest insurer, slumped 2.15 percent to 48.35 yuan per share. Zijin Mining Group Co., China's largest gold producer, dropped 1.85 percent to 6.89 yuan per share. CITIC Securities Co., China's biggest listed brokerage, lost 1.6 percent to 11.68 yuan per share.
Source: Xinhua via CNTEX

Cotton Soars to Record as Chinese Demand Surges, Global Production Wanes

DATE: 2011-01-25

Cotton futures soared to a record on speculation that global supplies will fail to keep pace with rising demand in China, the world's largest user. Chinese imports surged 86 percent in 2010 as economic growth lifted demand from textile mills and adverse weather hurt the domestic crop. The country's purchases may increase before next month's Lunar New Year holidays, said Han Sung Min, a broker at Korea Exchange Bank Futures Co. On Jan. 12, the U.S. government cut its globalSource: China Textile Network Company

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production outlook. Prices have more than doubled in the past year. Cotton was supported by China's import data and speculation that the country will buy more, as the holidays approach, Seoulbased Han said. Cotton for March delivery advanced by the exchange limit of 5 cents, or 3.2 percent, to settle at an all-time high of $1.6194 a pound at 2:56 p.m. on ICE Futures U.S. in New York. The most-active contract climbed 11 percent last week, the most since Dec. 3. September-delivery cotton on the Zhengzhou Commodity Exchange rose as much as 6.7 percent to 32,530 yuan ($4,940) a metric ton, the highest price since Nov. 10. This is spillover buying from Chinese exchanges, said Mike Stevens, an independent trader in Mandeville, Louisiana. Cotton prices have exploded in China. Worldwide output will be 25.138 million tons in the year that began Aug. 1, down from a December estimate of 25.154 million, the U.S. Department of Agriculture said this month. The agency raised its consumption forecast 0.3 percent to 25.382 million tons. Global inventories at the end of the marketing year are forecast at 9.3 million tons. That will be the tightest since the 1995-1996 season, Luke Mathews, an agricultural commodities strategist at Commonwealth Bank of Australia, said last week.
Source: bloomberg via CNTEX

Cotton set to extend gains in China in 2011

DATE: 2011-01-24

Prices hit a record high Any trend follower knows since August of this year prices have been on a tear from wheat to cotton to silver. In 2010, China Cotton Index for 328-Grade reached CNY 19,446 a ton, adding 51.55% over 2009. Same happened to the international cotton prices. The Cotlook A index in 2010 reached to 106.15 cents per pound, up 68.84 points from last year. The both of them hit a record high. Demand-supply unbalanced Cotton prices will extend gains over the next months, because of relatively low world stocks, limited supply, robust demand and a very low level of uncommitted cotton. Cotton output in China totaled 6.65 million tons in 2010, down 2.1% from a year earlier while China's cotton spinning industry saw a continue increase in cotton yarn production. From January to November 2010, output of cotton yarn reached 18,9198 million tons, up 13.18% from the previous year's period. The supply is not only from domestic cotton mills but also from outside. High import costs may push up cotton price also. According to Chinas State Council, 2011 import quota is 2.6 million tons. As we known, imports of cotton under quotas (0.894 million tons) are subject to 1% customs duty rate. Imports without quotas (1.706 million tons)are subject to 5~40% sliding duties. Goods delivered for cotton exports surged 109.84 per cent to 1.5451 million tons in the first six months from the yearearlier period. Goods delivered for cotton exports in Jun. increased by 5.1 per cent to 177,200 tons. Export price surged 47% to $1,834/ton in Jun. Now we're talking the countries outside China. It is estimated that as of end-December 2010, U.S. export commitments exceeded 3.16 million tons, or 92.30 percent of projected exports for the season. The U.S. is the largest exporter of cotton, accounting for an estimated 41 percent of world exports in 2010/11. In 2010/11, exports by India, the worlds second largest exporter, were capped by the government below 1 million tons, all of which have been committed. Central Asian commitments are estimated at over 1 million tons or 85 percent of projected exports. Australia and Brazil are expanding production substantially, responding to record prices, but this cotton will not become physically available until April 2011. Only about 10 percent of projected world trade of 8.3 million tons is still available for purchase at this relatively early stage of the season, according to estimates cited by the International Cotton Advisory Committee. The scarce uncommitted supply may provide strong pressure on prices and
Source: China Textile Network Company

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cause increased volatility through the rest of the season. As cotton price has been on a tea, cotton yarn price does too. Since October 8th, 20s cotton yarn had been at 30,500 yuan/ton and 32s cotton yarn at 31,500 yuan/ton, and both rose to 31,500 yuan and 32,800 yuan respectively on October 18th. The impact of soaring prices of cotton has bad influence as small mills have not enough material inventories and do not dare accept long-term and large-scale orders. Meanwhile, clothing retailers, buyers, and fashion start-ups, many of whose products are 100 percent cotton, are beginning to feel the burden of higher prices for the fabric. Global growth pushing up cotton price The U.S. manufacturing sector grew for the 17th consecutive month in December. This posts fresh evidence of the ongoing economic recovery. The U.S. Institute of Supply Management manufacturing index, also known as the purchasing managers index or PMI, stood at 57 percent in December. This is higher than the reading of 56.6 percent in November.11 Of the 18 U.S. manufacturing industries reported growth in December, including apparel, machinery, transportation equipment, electrical equipment and chemical products. According to the U.S. Department of Commerce, the U.S. economic growth was revised upward to an annual rate of 2.6 percent in the third quarter of 2010. There are plenty of worrying signs in China's latest data that the authorities have much more to do to counter the dangers of over-heating in the economy. As figures published, China overshot its bank loan growth target in 2010 by 6 per cent, despite the highly-publicised official clamp down on credit, and saw foreign exchange reserves rise by a record $199bn in the fourth quarter, taking the total to $2,850bn. Chinese banks issued 7,950bn renminbi ($1.2 trillion) in new loans last year, the central bank said, exceeding the governments target of Rmb7,500bn. The broad M2 measure of money supply grew 19.7 percent, also topping the official target of 17 percent. Lending is still excessive and China's process of monetary normalisation has not finished yet. China will still face high pressure from inflation. Outlook On the basis of above, we predict cotton price in the future in China will still spiral up. What helped drive up the unusually high prices in 2010, was the combination of the low ending world cotton stocks at the beginning of 2010, the bad weather in cotton-producing areas and strong demand. Looking at what could potentially impact the cotton market, economists said the unknown cotton stocks in China and the world supply response are the biggest factors. How many cotton acres will be planted worldwide and how much is harvested at the end of the year could determine how soon cotton producers close the gap on supply.
Source: CTEI News by Gracie Guo

China Textile & Clothes Export Surpass 200 Billion USD in 2010
DATE: 2011-01-24

2010 was a complicated year for Chinese textile and garment industry. Thanks for the recovery of international market demand, the export of textile and clothes surpassed 200 billion USD in this year. Accroding to the data of Customs, from Jan. to Dec. the export of textile and clothes accumulated to 206.53 billion USD, rising 23.59% from previous year. Of which, the textile export were 77.051 billion USD, rising 28.44%; clothes and accessories export were 129.478 billion USD, rising 20.88%. Since early 2010, the negative growth of textile and clothes export began to rebound and remained stable growth since then. Calculated by RMB, the export in 2010 reached a historic high point. According to the exporters, besides the overseas order increase, raw material price and labor cost also drove the product price rising. But the price rising had reached its bottleneck. The export growth might slow down in 2011.
Source: CTEI News
Source: China Textile Network Company

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China Clothes Sales Rising 7.22% in Nov. 2010

DATE: 2011-01-24

According to the statistics of China National Commerce Information Center, the sales income of national key big retailers in Nov. reached 47 billion yuan, rising 16.05% from a year ago. The clothes sales in those key big retailers were 14.56 billion yuan in this month, rising 7.22%. Of which, the sales of leather wear led the growth with 20.92% incease; sports wear, up by 10%; jeans, up by 4.69%, T-shirt, down by 1.53%. While the sales income of knitting & textile were 1.81 billion yuan, rising 7.32% year over year. Mans Suit In Nov. 2010, none of the top 10 mans suit brand took more than 10% of the market share. Youngor ranked No. 1 with 9.67% of the marke share, followed by Shanshan, Romon, Golden Lion, Pierre Cardin, Baoxiniao, Joeone, Playboy, Baromon, Selon. All the rest took no more than 5% of the marke share. Market Share of Top 10 Mans Suit Brands T-shirt The top 10 T-shirt brands had little gaps in the market shares in Nov. 2010. Jack Jones ranked No. 1, with 3.97% of the market share. Followed by Gloden Lion and Montagut, with market share at about 3%. Play boy and Joeone ranked No. 4 and No. 5 respectively, then BEVERLY HILLS POLO, Erdos, Pierre Cardin, Youngor and LACOSTE. All of them took less than 2% of the market share. Market Share of Top 10 T-shirt Brands Thermal Underwear The rank of top 10 thermal underwear brands had little change in Nov. 2010. Tinsino, Three Gun and Miiow were still the top three brands, with nearly 5% of the marke share. Followed by Mininurse and Nowbelle, then Beijirong, Your Sun, Hengyuanxiang, Pierre Cardin and Nanjiren. The rest seven brands took no more than 4% of the market share. Jean The top 10 jean brands took 49.08% of the whole market share in Nov. 2010. Of which, Levis ranked No. 1, followed by Lee, Apple, Weipeng. The top four brands all took more than 5% of the market share. Boton ranked No. 5, then CK Jeans, Jack Jones, Zengzhi, and Pierre Cardin. Ladys Underwear The top 10 ladys underwear brands faced severe competition in Nov. 2010. AiMer led the market with 13.85% of the market share. Followed by Maniform, with 9.63% of the market share. Triumph and Embryform ranked No. 3 and No. 4 respectively. Then Wocoal and Ordifen, whose market share nearly 5%; From No. 7 to No. 10 were Gujin, Sunflora, Gracewell and Haoby, whose market share less than 5%. Leather wear The leather wear market was also under severe competition on Nov. 2010. Zoranzi ranked No. 1 with market share 5.05%. Thats two percentage points higher than that of the No. 2 Red Spider. The following were Caissa, Milan, Gloden Lion, Yingda, First Lady, Jingbao, Sulan and emmanue. All of them took less than 3% of the market share. Cashmere wear The top 10 cashmere wear brands took 69.21% of the whole market share in Nov. 2010. Of which, Erdos ranked No. 1 with market share 22.74%. Followed by Montagut, with 11.32%, Zhenbei, with 9.24%, and Deer King, with 8.81%. The top four brands had took about half of the whole market
Source: China Textile Network Company

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share. From No. 5 to No. 10 were Pierre Cardin, Gloden Lion, Mihuang, PiPidog, Paloupo and Baykal. All of them took less than 4% of the market share. Sports wear In the top 10 sports wear brands in Nov 2010, NIKE and ADIDAS ranked No. 1 and No. 2 respectively, with more than 20% of the market share. The gap of them were very little, only 0.03 percentage point. Followed by Lining and Kappa, then Jordon, NIKE360, North Face, Anta and Ozark. The rest six brands took less than 4% of the market share.
Source: CTEI News

China's economy expands faster in 2010, tightening fears grow

DATE: 2011-01-24

China's economy grew 10.3 percent last year, up from 9.2 percent in 2009, consolidating its recovery from the global crisis and adding expectations of further monetary tightening. The country's gross domestic product (GDP) hit 39.8 trillion yuan (6.05 trillion U.S. dollars) last year, up 10.3 percent year on year, Ma Jiantang, director of the National Bureau of Statistics (NBS), told a press conference Thursday. In the fourth quarter, GDP growth picked up to 9.8 percent year on year from 9.6 percent in the third quarter, after slowing from 11.9 percent in the first quarter and 10.3 percent in the second. "In the past year, China has consolidated and boosted its recovery from the global financial crisis, and the national economy is generally operating well," Ma said. The country's economy has avoided overheating and a "double dip," he said. The government set the full-year growth target at 8 percent in early 2010, after the economy recovered from the global economic downturn in 2009. "The country is at a key stage of steering the economic recovery to stable growth," Ma said. Zhang Liqun, a research fellow with the Development Research Center of the State Council, said China's economic situtation last year continued to improve and now the economy is on a stable growth track. Zhu Baoliang, deputy director of the Economic Forecast Department of the State Information Center, described the country's economic performance in 2010 as "stable." But the market reacted negatively to the better-than-expected figure, as the strong growth left more room for Chinese policy makers to curb inflation with further tightenings. In Shanghai, the stock market tumbled almost 3 percent on Thursday to end at 2677.65 points. China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in December year on year and 3.3 percent for the whole of 2010, the NBS said. The monthly figure was slightly lower than November's 5.1 percent, a 28-month high, but slightly higher than October's 4.4-percent growth. Despite obvious progress in taming prices in December, China still faces challenges in curbing rising prices this year, Ma said. One challenge is that some developed economies have introduced quantitative easing monetary policies, resulting in soaring international commodities prices, Ma said. China's recent monetary policy, designed to fight the global economic crisis, has
Source: China Textile Network Company

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resulted in inflation, Ma said, adding that soaring labor costs and land prices have also pushed up prices. The government said in December that it will shift its monetary policy stance from relatively loose to prudent in 2011. "The stronger-than-expected growth figures will encourage Beijing to act more decisively to tame inflation. Rate hikes are just around the corner," said Qu Hongbin, Co-Head of Asian Economics Research and Chief Economist for Greater China at HSBC. He expected at least another 150 basis points hike in the reserve requirement ratio and two 25 basis points rate hikes in the next six months. China raised the bank reserve requirement ratio seven times in the past year, and hiked interest rates twice since the second half of last year to rein in inflation. Lu Ting, China economist with the Bank of America-Merrill Lynch, said the fall in year-on-year CPI in December from a month earlier was mostly due to the peculiarities of the base figure, and that to a lesser extent good weather and Beijing's efforts to boost supply contributed to the lower figure. Looking forward, Lu expects the CPI to spike again in January, due mainly to the timing of the Chinese New Year holiday and worsening weather. The CPI might decline moderately after February if the weather normalizes, Lu added. But Ma Jiantang sounded confident when speaking of inflation control. "We are fully confident that we will be able to have consumer prices under control in 2011, and we have the conditions and ability to do so," he said. China harvested a bumper crop last year and the industrial supply exceeded demand, putting downward pressure on prices, Ma added. Ma also stressed that China will step up efforts to accelerate the transformation of the country's economic growth pattern, something the country had been working hard to achieve in the past year. China is striving to reduce reliance on exports and investment and boost domestic consumption to provide more sustainable economic momentum in the wake of the global crisis. The NBS data showed that consumer spending contributed 3.9 percent to the country's 10.3 percent GDP growth last year, while investment contributed 5.6 percent and exports contributed 0.8 percent. China's retail sales rose 18.4 percent year on year to 15.4554 trillion yuan in 2010, according to the NBS. Zhang Liqun said the market played a greater role in boosting the economy last year, as the government's economic stimulus program was coming to an end. China launched a 4-trillion-yuan economic stimulus package two years ago in response to the international financial crisis. "Compared with pre-crisis conditions, the quality of China's economic growth is much improved, with consumption, investment and exports playing more balanced roles in economic development," said Zhang Xiaojing, a researcher with the Chinese Academy of Social Sciences (CASS). Yao Jingyuan, chief economist with the NBS, said China will work to keep economic growth at a stable level this year, which could leave room for the government to boost economic restructuring and control price levels. More efforts will be put into reforms of income distribution, development of new strategic industries and the tertiary sector, as well as energy conservation and emissions reduction, he said. "For China, 2011 will be a year of opportunities and hope, and a year of transformation and reform," said Ma.
Source: CTEI News

Source: China Textile Network Company

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