Anhui Huamao Group: International Cotton Yarn and Dyed Fabric Manufacturer

Anhui Huamao Group Co., Ltd. is a state-owned fabric wholesaler that is based in the historical Anqing City in Anhui Province, which is located by the bank of the famous Yangtze River. It currently has six subsidiaries that deal with textile, real estate, knitting, auctions, import-export trade, and comprehensive services with total assets that amount to RMB 2.2 billion. The company takes pride in its people-oriented management concept and characteristic enterprise management culture that attaches utmost importance to quality, cost, and benefit.

Main products are cotton fabrics, yarn, grey cloth, yarn-dyed fabrics, and finished fabrics used for manufacturing garments and home textiles by the company’s many partners in the domestic and international market. Its “Chengfeng” brand pure cotton and polyester cotton yarn was named “Anhui Famous Brand Product” by the User Committee of China Quality Association and “The Example of Quality Chinese Cotton Yarn” by Japanese traders. The “Chengfeng” brand is now considered a staple fabric for many well-known brands in China and abroad.

For the past 29 years, Anhui Huamao Group Co., Ltd. has just kept growing bigger. Annual production capacity is 35,000 tons of “Chengfeng” high-grade pure cotton and polyester cotton yarn (6-160 cm), 1,800 tons of gassing and mercerizing yarn, and 6,000 meters of “Yinbo” high-grade pure cotton grey fabrics, polyester cotton union grey goods, and knitted fabric (120-360 cm). The impressive volume of goods the company’s factories produce is made possible by 300,000 spindles, 1,893 sets of shuttleless and shuttle looms, and state-of-the-art production lines of automatic coning, double twisting, doubling, gassing, mercerizing, bleaching, and dyeing.

One of the company’s biggest subsidiaries, Anhui Huamao Textile Stock Co., Ltd. is publicly listed with a total capital stock of 455,520,000 shares, of which 16,005 are in circulation. The enterprise has been included in the Chinese 520 National Key Enterprises. Anhui Huamao Group Co., Ltd. also hold major shares in Chinese-foreign joint venture Anhui Fenghua Textile Co. Ltd.

For 19 consecutive years, Huamao Group is included in the list of “100 Enterprises in Anhui with Good Economic Benefit”.  It has been recognized by government and private institutions and awarded titles that include No. 265 in the “Top 500 Chinese Industrial Enterprises” and No. 1 in the national cotton weaving industry.

“Our company always insists on market-orientation and constantly deepens the reform and management of the enterprise. It also insists on the managing concept of focusing on quality, seeking for development with the help of science and technology and constantly fulfilling the needs of our customers,” company president Hua Guanxiong said. The 2003 “Chinese Entrepreneurial Enterpriser” awardee is overly optimistic of the company’s future.

Anhui Huamao Group Co., Ltd. is a proponent of innovations in IT and e-commerce towards modern industrialization. Taking the example of international advanced management concept, the company takes technical and management levels further, having successfully acquired ISO 9001:2000 and ISO 14001 approval. There is no question that a partnership with the internationally-accredited textile giant only serves endless benefits to all parties involved.

Anhui Huamao Group Co., Ltd. will be participating in the SOURCING at MAGIC event in Las Vegas later this month. You can check out the company’s exhibition and meet its representatives at the trade fair.

 

Source: http://english.ctei.gov.cn/innews/domestic/201208/t20120808_1368713.html

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Banks open on Thursday

Banks will remain open on Thursday in Dhaka and other areas where garments factories are concentrated, Bangladesh Bank said in a notice yesterday.

Banks are also allowed to open all or specific branches on Saturday, ahead of the Eid festival.

The branches of all commercial banks in Dhaka, Savar, Ashulia, Gazipur, Narayanganj, Khulna and Chittagong will remain open from 9:30am to 12:30pm on Thursday, to help garments industries pay wages and allowances to its employees, the central bank said.

A long holiday starts Aug 15, to be capped by Eid celebrations in Bangladesh on Aug 19 or a day later.

“Some of our branches will remain open to serve the garment industry,” said Helal Ahmed Chowdhury, managing director of Pubali Bank, admitting the BB circular in this regard.
Banks will reopen on August 22.

 Source: http://www.bgmea.com.bd/home/pages/BanksopenonThursday

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Customs houses to remain open Aug 16, 17, 18

In an effort to keep export-import activities unhurt, all the customs houses, including the one in Chittagong, will remain open during the Eid vacation except the Eid day, officials said here on Tuesday.

The customs houses will remain open on August 16, 17 and 18 so that export-import, especially the export of readymade garments, can be done uninterruptedly

Earlier, the leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government to take steps so that export-import activities at the country’s premier seaport Chittagong remain open during the Eid holidays.

Source: http://www.bgmea.com.bd/home/pages/CustomshousestoremainopenAug161718 

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Directive for steps to export RMG during holidays until Aug 18

The shipping ministry Sunday directed the authorities concerned to take steps for the shipment of exportable readymade garment (RMG) products during the holidays until August 18.

The directive came in line with the request by Bangladesh Garment Manufacturers and Exporters Association (BGMEA), a shipping ministry order said. 

 

Source: http://www.bgmea.com.bd/home/pages/DirectivefostepstoexportRMGduringholidaysuntilAug18

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China Factory Closures and the Rise of the Rent Seekers

As you may have heard, Adidas recently announced the closure of its last remaining directly-owned factory in China. They’re going elsewhere in search of lower labor costs. However, that decision did not go over well with their local suppliers, who do not seem willing to accept it without putting up a fight.

Chinese suppliers are calling on the clothes manufacturer Adidas AG to compensate them for the consequences of its decision to close the last factory it wholly owns on the mainland, saying that they might otherwise turn to the courts for assistance.

Adidas announced its plan to close the factory last week, saying it will shut down an apparel operation in Suzhou, Jiangsu province, in an attempt to become more efficient by restructuring its business in China and the world. It also said it will terminate its contracts with five suppliers in the country.

Those companies have been working with Adidas for several years. In 2011, they delivered about 8 million garment pieces to Adidas, said Sun Yingli, general manager of Shanghai Manlang Textile Co Ltd, one of the suppliers.

Sun said Adidas informed her and her colleagues in April that it wanted to end the contract it has with Shanghai Manlang Textile. “The original document said Adidas can terminate it whenever they want,” Sun said. “They just have to tell us about that decision six months in advance.” Sun said she has consulted a lawyer and said the contract appears to be a one-sided agreement.

This lawsuit threat looks like a weak negotiation tactic. As I’ve said before, this strategy doesn’t work all that well if you don’t have a real case to back up the threat.

In this instance, going to court would be a joke (unless there are other facts here we don’t know about). A six-month termination clause is quite reasonable and is very common. It’s a valid contract term and should be upheld by a court or arbitration body. Moreover, it sounds as though Adidas exercised the notice provision correctly.

Sorry, suppliers.

The Adidas dispute is simple and limited in scope, but what will happen when more factories and entire sectors start closing down in the years to come? The big picture here is worth thinking about.

Several things are going on in China at the moment with manufacturing. The ones closing up shop are doing so because costs are rising (a long-term trend), and demand, particularly in the export sector,  is falling (hopefully only a short-term trend).

The acceleration of plant closures in some sectors, like textiles, will mean lots of unemployed folks. The government will have to deal with the resulting disputes between labor and management, involving things like back pay, social insurance payments, etc.

But I can’t help thinking about entrenched industries and political power. Maybe I’m simply looking at this like a Westerner, but when you have an industrial sector in decline that has sufficient juice with a government, what usually happens? Well, where I’m from, it ends in recriminations and protectionism.

We’re already on heightened alert for increased levels of protectionism now that China is dealing with sagging exports. Stay tuned for more trade disputes over the next couple years. 

This is mostly foreseeable and expected.

The decline in labor-intensive industries like textiles is also expected, and since China wishes to “move up the value chain” and leave some of this low-end work to other developing countries, it will probably be quite all right to see those companies depart. In the short-run, of course, it will mean job losses and pain, and perhaps some political turmoil for local officials.

However, if China continues to experience wage increases and sees more manufacturing enterprises flee the country, when will the protectionism kick in? These factories, these industries, represent important constituencies for local and provincial governments, who will no doubt lobby on their behalf. What will that dynamic look like, and how will the Central Government balance long-term national economic strategy against short-term dislocations and pressure from locally powerful rent seekers? This will be fascinating to watch.

Additionally, will we see some sort of backlash against those nations getting all those new jobs? As the U.S. lost huge numbers of manufacturing jobs, it was easy to single out China, a gigantic, identifiable scapegoat. For China, there won’t be such an obvious target. Vietnam? Indonesia? Bangladesh? Not the same dynamic at all.

 

Those Adidas suppliers are nothing to worry about, but if their ilk band together and push for government assistance, things might get interesting.

 

Source: http://english.ctei.gov.cn/innews/domestic/201208/t20120807_1368619.html

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Lycra brand owner INVISTA makes first textile investment in China

INVISTA, owner of Lycra® brand makes its first textile research investment in mainland China.

INVISTA has invested US $7.3 million in building its first research center, a 3,000 square meter facility in Qingpu, Shanghai district in China. This is the 4th research facility for INVISTA. The other three are located in the United States, Italy and Taiwan.

The China Textile Research Center will speed-up the development of new fabrics and due to its proximity to INVISTA’s manufacturing facility and access to large customer base, will enable cost savings for INVISTA, according to a recent press release.

INVISTA is one of the global leaders in the production of nylon and spandex.

Source: http://english.ctei.gov.cn/innews/domestic/201208/t20120806_1367997.html

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BGMEA works for a better industrial relationship

The country's garment makers are now working on how to implement the Better Work Programme of the International Labour Organisation (ILO) to establish a better industrial relationship between the workers and the factory managements. Lejo Sibbel, ILO's senior design adviser of the Better Work Programme, and Md. Shafiul Islam, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), discussed the details of the programme at a meeting at the BGMEA office in the capital yesterday. In 2009, the US Department of Labour instructed Bangladesh government to implement the ILO's Better Work Programme, according to a statement of the BGMEA. The call came at a time when a Bangladeshi business team went to the US to attend a hearing of the United States Trade Representative for gaining duty benefits under the generalised system of preferences scheme. 

Source: http://www.bgmea.com.bd/home/pages/BGMEAworksforabetterindustrialrelationship

 

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Women’s Apparel Sales in BJ Worth CNY 280 million in May

According to Beijing Commercial Information Consultation Center. Sales value of Women’s Apparel in Beijing 18 mid-to-high range department stores in April 2012 and in May 2012 were CNY243 million and CNY 280 million respectively. In April, women & apos;s apparel sales value down 18.59% m/m and down 5.75% y/y; In May, women & apos;s apparel sales value up 15.12% m/m and up 2.2% y/y.

Looking further into the sales rank of department stores. Cuiwei Place was champion both in April and in May. Cuiwei Place reported a CNY48.08 million sales value in May . Yansha Youyi rose from the 18th in April to the second in May.Wangfujing department store retained the third place. Looking further into the sales rank of women’s apparel brands in May, MeierMei , Ports and Marisfrolg claimed the 1st, 2nd and 3rd rank respectively in sales value. Among them, MeierMei reported a CNY6.47 million sales value.

Yansha Youyi returned back to the top three in sales value

In May 2012, The 18 mid-to-high range department stores participated in the statistics, most of them achieved growth in women's apparel sales value. Compared with April overall sales value increased 15.12%.

Cuiwei Place won the champion with women’s apparel sales value was CNY48.08 million, increased 31.88% m/m. Yansha Youyi claimed the 2nd with women’s apparel sales value was CNY38.47 million, increased greatly up to 2186.6% m/m. Wangfujing department store claimed the 3rd rank with women’s apparel sales value was CNY27.78million . Ranked fourth was Shuang'an, with a CNY21.39 million in women’s apparel sales value,increased 8.46% .Dangdai claimed the fifth with CNY20.66 million. The rest of the department stores were less than CNY20 million in women’s apparel sales value.

Looking further into the accumulated sales value rank of top 10 department stores in the period January-May 2012, Cuiwei Place and Yansha Youyi claimed the 1st and 2nd rank .Both were more than 10% market share in accumulated sales value. Wangfujing department store and Shunyi Guotai claimed the 3rd and the fourth, shared more or less 9.5% respectively. The rest of the department stores were less than 8% respectively.

In May 2012, The 18 mid-to-high range department stores participated in the statistics, the overall women’s apparel sales volume decreased 9.81% compared with April. Urban-Rural Trade Center shared of 13.27% in sales volume rose to the top position. Cuiwei Place was equally significant, with 12.81% rose to the second place. Xidan Department store and Shunyi Guotai sharply declined in sales volume, slipped to the third and the nineth places respectively. The third to the tenth were less than 10% in market share.

Looking further into the top 10 women’s apparel brands in terms of sales value in May 2012. Most of the brands had a growth in sales value. MeierMei won the champion with sales value was CNY6.47 million. Ports had a greatly growth of 77.76% claimed the 2nd with CNY6.24 million . Marisfrolg claimed the 3rd with CNY5.10 million. Women’s apparel sales value for the rest of the brands were between CNY3.00 million and CNY5.00 million. Among them, Crcara had a significantly growth of 1070.51%m/m and claimed the eighth. Both VERO MODA and ONLY all decreased, from last month's championship slipped to fourth and seventh respectively.

Looking further into the top 10 brands in accumulated sales value in the period January-May 2012.The top three ONLY, VERO MODA and MeierMei shared more than 2.3% respectively. The rest brands ,which ranked from fourth to tenth ,shared between 1.0% and 1.8% respectively.

Looking further into the top 10 brands in sales volume in May 2012. Although sales volume declined, VERO MODA ,ONLY and ESPRIT still maintained the top three positions . MeierMei and Ochirly increased 5.6% m/m and 2.63% m/m ,ranking up to the fourth and the fifth respectively . LiangNuo, WEISI and JDing ranked among the top ten this month.

Source: http://english.ctei.gov.cn/innews/domestic/201208/t20120803_1366402.html

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Net profit increased slightly in most clothing listed companies

Entering July, listed companies’ performance report in the first half of 2012 will be disclosed. Up to July 16th, 54 textile and clothing listed companies published performance report. Among them, 5 companies’ net profit increased, 23 companies’ net profit slightly increased, 6 companies’ net profit slightly reduced, 4 companies’ net profit reduced compared with the expectation, 6 companies had losses for the first time, 9 companies sustained losses and 1 company made up the deficits and got surpluses.

CANUDILO achieved operating income of CNY 168 million in the first quarter of 2012, an increase of 36.48% y/y .Net profit was CNY 54 million, an increase of 53.38%y/y. CANUDILO had an optimistic view about the first half of 2012, expected the net profit increasing 50%~60% y/y. CANUDILO’ net profit in the first half of 2011 was CNY 50.72 million.

In addition, multi-brand pattern and the growing maturity,Saint Angelo also had an optimistic view about the first half of 2012, expected the net profit increasing 30%~60% y/y. Saint Angelo’ net profit in the first half of 2011 was CNY 92.65 million.

According to performance report in the first half of 2012, TOREAD achieved sales revenue about CNY 374 million ~ CNY 399 million, an increase of 50%~60% y/y;Total profits about CNY 75 million ~ CNY 84.90 million, an increase of 46%~65% y/y;Net profit about CNY 56.6 million ~ CNY 63.10 million, an increase of 30%~45% y/y.

Septwolves also projected net profit increasing by 30%~50% compared with the same period in last year. Septwolves net profit in the first half of 2011 was CNY 174.89 million.

After listing, LANCY brand awareness and influence further improved,marketing capabilities enhanced and terminal sales channels increased greatly. LANCY projected net profit increasing by 20%~50% compared with the same period in last year. LANCY net profit in the first half of 2011 was CNY 96.2 million.

January - June 2012,projected performance

Brands	projected net profit change range (y/y)	projected net profit （CNY100,00）
CANUDILO	50%~60%	5072
Saint Angelo	30%~60%	9265
Souyute	30%~50%	6546
Septwolves	30%~50%	17489
TOREAD	30%~45%	4353
LANCY	20%~50%	9620
Metersbonwe	10%~30%	37636
Busen	0%~30%	1689
SINOER	0%~20%	7191
baiyuankuye	0%~20%	2548
Semir	-35%~-45%	43749

Data source: listed company bulletins

 

News Source:  http://english.ctei.gov.cn/innews/domestic/201208/t20120803_1366401.html

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Xinxing Cathay Group and Weiqiao Pioneering Group entered Global Fortune 500 Companies

Beijing time on 9th July 2012, United States Fortuneglobal officially released the 2012 Global Fortune 500 Companies list. Xinxing Cathay Group and Weiqiao Pioneering Group entered Global Fortune 500 Companies.

In 2011, Xinxing Cathay Group topped the ranking of Global Fortune 500 Companies, ranked No. 484 by operating income of CNY 147.6 billion (equivalent to USD 22.832 billion). Xinxing Cathay Group is the country’s largest military supplier, as well as the leading production base for occupational clothing and footwear.

Shandong Weiqiao Pioneering Group Company Ltd. has become a super-large enterprise that focuses on providing goods and integrated service of cotton industry, spinning and weaving, dyeing and finishing, garment, home textile, heat electricity and aluminum industry. 

With its first-class equipments, productive capacity and economic benefit, Weiqiao Pioneering Group ranked No.1 in textile industry of China in fourteen consecutive years. In 2011, Shandong Weiqiao Pioneering Group’s sales revenue was USD 24.9055 billion . Its profit was USD 1.1276 billion. The group topped the ranking of Global Fortune 500 Companies, ranked No. 440.

 

Fortune of the world top 500 ranking is based on enterprise revenues as the main basis for evaluation, evaluation system covers the business revenue and net profit, total assets, shareholder rights, such as the total amount of total employees, it is to measure the world’s large company scale, efficiency and the strength of the most famous, the most authoritative’s list. This year, the fortune on the threshold of the world top 500 for about $22 billion, about $19.5 billion more than the previous year raised $2.5 billion.

 

Source: http://english.ctei.gov.cn/innews/domestic/201208/t20120803_1366400.html

 

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The trade with the EU was facing a grim situation

According to customs statistics, January - May2012, China’s textile and apparel exports valued at USD 93.523 billion. Compared with the same period in 2011 increased 2. 63%. Among them, The exports to European Union( the EU) valued at USD 16.756 billion, accounted for 17.92 % of total exports to the global in textile and apparel, down 11. 17% y/y. The EU is one of the main markets for China’s textile and apparel exports. The negative growth highlights the grim situation of the European Union market .

Market share declined in the EU

The EU, the United States, and Japan had been the three main markets of China’s textile and apparel exports. Due to the influence of the whole economy in the EU, the market share declined significantly. According to Chinese customs data, January - May2012, The EU shared 17.92%of China’s textile and apparel exports, decreased 2.78% compared with the corresponding period in 2011. This is the first time for less than 20% over the past 5 years in the corresponding period. Depressed demand in the EU market have emerged.

Negative growth in the majority countries of the EU

According to the EU statistics, January - April 2012, Only 10 states maintained positive growth in textile and apparel imports from China . They were Bulgaria, Poland, Latvia, Lithuania, Estonia, Czechoslovakia, Austria, Cyprus, Romania and Sweden. The growth were 25.68%, 7.82%, 6.82%, 6.38%, 4.31%, 2.48%, 1.53%, 1.5%, 0.79% and 0.12% respectively . This 10 states accounted for only 7.41% of China’s total exports to the EU in textile and apparel. The remaining states showed different ranges of negative growth. Among them, Italy, Greece, and Spain experienced a significant negative growth ,for -16.69%,-11.86% and-10.23% respectively.

Negative growth in main products

According to the EU statistics, January - April 2012, China’s textile and apparel exports to the EU valued at 10.942 billion Euros. Of which, clothing valued at 8.583 billion Euros, occupied 78.44% of the total, declined 7.6%y/y.Look into the product structure, January - April 2012, Yarns, cotton fabrics, men ‘s/women’s knitted clothing and men ‘s/women’s non-knitted clothing all showed negative growth. Of which, cotton fabrics valued at 132 million Euros, decreased up to 39.83%y/y. Men’s non-knitted clothing valued at 1462 million Euros, down 11.11% y/y; Ladies non-knitted clothing valued at 2098 million Euros, down 10.36%.

 

Source:http://english.ctei.gov.cn/innews/domestic/201208/t20120803_1366399.html

 

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Textile Ministry to undertake powerloom industry survey

The Textile Ministry, in order to get a grasp of the developments in the powerloom industry in the northern region of India, is going to undertake a survey. The survey will be conducted by M/s AC Nielsen ORG-MARG Pvt. Ltd. to get the latest position of the powerloom industry in the northern region of the country.

In a statement, the Ministry has appealed to the textile units spread across the northern region along with various other stakeholders to help M/s AC Nielsen ORG-MARG Pvt. Ltd. in getting the data, which in turn would be utilised by the Government of India for giving shape to developmental policy for strengthening the powerloom industry in the future.

 Source: http://pib.nic.in/newsite/erelease.aspx?relid=85512

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Dr A Sakthivel, Chairman, AEPC on the Credit Policy announced by RBI today

Reserve Bank of India has today, kept interest rate unchanged, thereby keeping the cost of funds very high.  The industry was expecting downward trend in the interest rate so that cost of manufacturing can be reduced.

Dr A Sakthivel, Chairman, AEPC said that he had proposed a separate rate for exporting community so that they can compete in the international volatile market.

Dr A Sakthivel urged Governor, Reserve Bank of India for revisiting the interest rate and provides a separate interest rate for exporters so that employment in this vital area can be continued and export target of US$ 18 Billion, set by the Ministry of Textiles, can be achieved.

Source: http://www.aepcindia.com/press-landing.asp?lngYear=2012

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The export proportion of textile and apparel reduced in the first half

According to customs statistics, on July 10th in 2012, In the first half of 2012 ,China`s foreign trade imports and exports valued at USD 1,839.84 billion. Compared with the same period in 2011 increased 8.0%. Among them, export USD 954.38 billion, an increase of 9.2% y/y; imports amounted to USD 885.46 billion up 6.7% y/y. USD 68.92 billion trade surplus.

The export proportion of traditional labor-intensive products reduced. In the first half of 2012, The export of such as textiles, clothing, luggage, footwear, toys, furniture and plastic products ,the 7 major categories of labor-intensive products amounted to USD 186.47billion, an increase of 7.7%. accounted for 19.5% of the total exports , down 0.3 percentage points.

The second half of the year, China’s foreign trade faces many uncertainties: First, the current international financial crisis is still fermenting, the world economic recovery is weak; the serious debt problems of major developed economies; the unemployment rate remains high and low consumer confidence. Second, the domestic economic showed an independent fall after a rise. On the pressure of economic downturn, domestic demand also slowed down. Third , export enterprises’ operating costs increased.Such as labor costs, RMB exchange cost and financing cost. And then export price competitiveness has been weakened and international market share reduced. From January to May, China labor intensive products (including textiles, clothing, luggage, footwear, toys, furniture and plastic products ,the 7 major categories of labor-intensive products) accounted for 63.3% of the similar products in the Japanese imports, down 0.4 percentage points over the same period, While Vietnam, Indonesia and Bangladesh, were increased 0.7% 0.2% and 0.2% respectively. The same situation with the United States and the European Union markets. Fourth , during the financial crisis, Europe and the United States, the main economies adopt trade protection, trade barriers endless, retrofit, and quickly spread to emerging markets.

 

Source: http://english.ctei.gov.cn/innews/domestic/201207/t20120727_1362787.html

 

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China-Japan white list management system going on the right track

Recently, the enterprises which had joined Japanese textile standard of self-regulation standards( that is white list management system ) had been officially announced. Including Qingdao GuiHua knitting limited company, there are 32 companies accessed to white list qualification. So far, a total of 56 home textile enterprises in China obtained the white-list qualification. Including China Textile Industry Association Testing Center ( Beijing),there are 16 laboratories obtained testing qualification.

Japan major importers also have joined the white list management system. Including Ito Yang huatang, Itochu, Teijin, pill red, Oriental textiles, Mitsui, Sumitomo, Sumikin Bussan and others.

Japan officially announced textiles do not use the specific azo dyes self-regulatory standards on March 29, Japan Labor and Welfare Ministry has also officially launched the legislative process. The Japanese textile industry self-regulation standards has been raised for the law to enforce. China Textile Industry Association and the Japanese side in order to help Chinese textile export enterprises to better respond to repeated consultations, and finally reach a consensus, through the cooperation of both sides, white list management system, the implementation of the the white list qualification for the Japanese market. 

 

Source: http://english.ctei.gov.cn/innews/domestic/201207/t20120727_1362786.html

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China’s total cotton imports is expected to reach 5.3 million tons

In June 2012, China imported 476,000 tons of cotton, an increase of 356,000 tons, an increase of 296.6% y/y ;From September 2011 to June 2012, China imported a total of 4.729 million tons of cotton, an increase of 2.518 million tons, an increase of 113.9% y/y .

According to the research of the China Cotton Network reporters in major ports, Peak season for foreign cotton was outdated . And the import quotas for textile companies basically run out. Cotton imports will be reduced in the late of this year. However, now the spread between domestic cotton and foreign cotton is still large, since July remained at the level of 4000 yuan / ton, textile companies are still tend to foreign cotton. So in the next two months, cotton import volume reduction will be limited.

Based on historical data from 2003 to 2010, the average cotton imports in July and August were 207,000 tons and 221,000 tons. The data reached its maximum in July and August of 2005,up to 290,000 tons and 286,000ton respectively. The cotton imports showed a trend of the “blowout” in this year. The data may be higher than the average, may even beyond 2005, is expected to not less than 30 tons. China’s total cotton imports this year is expected to reach about 5.3 million tons, to make an new record.

For the countries, from September 2011 to May 2012, India, the United States, Australia, Brazil and Uzbekistan were the major countries of the cotton exports. To our country, total exports of 1.738 million tons, 0.993million tons, 0.374million tons, 0.332million tons and 0.242million tons of cotton, respectively. Accounting for 86.5% of the total of China’s cotton imports in the same period.

 

Source: http://english.ctei.gov.cn/innews/domestic/201207/t20120727_1362784.html

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Chinese netizens use 31% income for online shopping

WorldPay, has issued a global survey. Chinese netizens use 31% of disposable income for online shopping, higher than the world’s average level (22%). In China, clothing is the most popular online goods and PayPal is the most popular payment method.

The survey taking in representative countries, 15 e-commerce markets as a sample. Chinese netizens use 31% of disposable income for online shopping, ranking second in 15 countries. Just below India’s(33%).

From a global perspective, consumers spend more in the afternoon, 74% of the global online shopping took place during noon to midnight, and 20:40 is the global online shopping “prime time”.

Payment methods are also important factors in attracting and retaining consumers. 66% of them think, security is one of the main factors to attract them to consume again. 57% of the consumers selected sale guarantee. 53% of the consumers think, better payment security is the main factor attracting them to increase spending.

Chinese e-commerce driven by relatively wide range of population. And the female more than 40 years is the dominant force. 26 to 32 years old crowd also plays an important role. These online consumers are mainly worry about protection of their personal information. Many serious online consumers will always be attracted to some retailers which offer a variety of pricing options. Online consumers will be attracted to the accurate delivery dates and details. They also are interested in customized products.

 

Source: http://english.ctei.gov.cn/innews/domestic/201207/t20120727_1362783.html

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CSRC Gives Priority to Enterprises from West of China

China Securities Regulatory Commission (CSRC) is to amend their IPO Investigation Procedure in order to deal with the issues of long waiting time. According to the current procedure, all the IPO applicants need to wait in line. Those with complete documentations will go into the next step for further investigation. The new procedure will open a green lane for those applicants from the West of China, and balance the investigation schedule of the IPO enterprises for Shanghai and Shenzhen stock markets.

Source: http://www.cnga.org.cn/engl/news/View.asp?NewsID=37083

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Duty free access for RMG hinges on good ties with US: US Ambassador

US Ambassador Dan W Mozena yesterday said Bangladesh should create a good climate in relationship with the US to get duty-free access for its readymade garment items to the US market.

Mozena also said getting such an access and the benefit of Generalised System of Preferences (GSP) from the US is a political process.

He suggested Bangladesh should lobby the US Congress, which decides on giving the duty-free market access to any country.

Mozena spoke at a discussion on 'Bangladesh-US bilateral trade: the way forward' organised by Dhaka Chamber of Commerce and Industry (DCCI) at its office in the capital.

Bangladesh has been lobbying the US for quite a long time to get the trade benefit, but the US has been delaying it.

Under the current customs rules of the US, 97 percent Bangladeshi products enjoy duty-free access to the US market, but the country's key export item, garments, are excluded from the package.

Though Bangladesh is a least developed country, it has been exporting garment items to the US by paying an average duty at 15.3 percent, which is higher compared to what developed and developing countries pay.

Bangladesh paid more than $600 million in duty for exporting garments worth $5.10 billion in 2011, while China, world's largest apparel supplier, pays 3 percent duty on garment exports to the US market.

“The good idea is to create a good climate in relationship between Bangladesh and the US,” Mozena said.

“Telling the ambassador (to give the duty-free access) is just wasting your time. It is the political process.”

Bangladesh has the opportunity to be the largest garment exporter worldwide as the country has a vibrant private sector business community.

Bangladesh can also be a good investment destination as the country has a good reserve of natural gas and human resources. “The people are great asset of the country. You have to invest in the people,” he said.

But, political instability and uncertainty, red-tapism, corruption, weak port management and the bad condition of roads and highways -- especially the Dhaka-Chittagong highway -- are the major obstacles to bringing more foreign direct investment in Bangladesh, Mozena said.

Bangladesh has the scope to be a communication hub like Singapore for its geographical location. Bangladesh is at the centre of Afghanistan, India, China and Nepal. “It's a blessing,” he said.

Source: http://www.bgmea.com.bd/home/pages/DutyfreeaccessforRMGhinges

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BGMEA meets Communications and Railway Minister

A delegation of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) met with Communications and Railway Minister Obaildul Quader at Railway Bhaban in the city on Monday afternoon. The delegation led by its acting president Nasir Uddin Chowdhury placed several demands to the minister. The demands include taking initiative for easing traffic jam, foot-over bridge construction, permission of setting up office of Bangladesh University of Fashion and Technology at BGMEA Bhaban in Chittagong. After the meeting, Nasir said, “The minister has assured us to consider the demands positively.” 

Source: http://www.bgmea.com.bd/home/pages/BGMEAmeetsCommunicationsand

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