In 2008 US subprime financial crisis was gradually spreading to real economy, and having influence on US consumer market and even relative economy. From Jan to Aug in 2008 the total amount of China textile and apparel export reached to US$118.95 billion, dropped by 10% compared with 19.23% of last year. However, the accumulative export was increased by 9.17%, which implied that the total demand of oversea market kept on growing, and China whose position as Manufacturer for Global Industry was remained unshakeable.
In 2008 the export of T-shirt and pullover was raised due to the cancel of quota to EU. Among all the apparel EU imports, the import of men’s and women’s sweater was increased separately by 11% and 16% .
With the appreciation of RMB currency and the continuous raising of labor rate and raw material cost, the only way to improve the profit for the manufacturers is to lower the trade cost, strengthen international trade communication, work on more product development and make enterprise management system more scientific.
With the rapid growth of China national income and gradual decline of savings interest rate, in the following 20 years the actual consumptive power of China cities will go up by over 5 times, and China will become the third biggest consumer market following Japan and US. The rapidly-emerging middle class and the rich have promoted the almost crazy increase of China consumer market in recent few years, which has attracted more and more oversea luxury and fashion brands to focus on China market, and China has been considered as most important and most potential market.