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China's garment industry urged to adapt changes

Raw materials, rent, labor costs have all increased while corporate profit margins shrinked in China since 2015. However, its garment industry is showing good results. According to China National Garment Association statistics from January 2015 to November 2015, above-scale garment enterprises’ (15,586 in numbers) main business income reported 1.984423 trillion Yuan, with a total profit of 112.802 billion Yuan and an increase by 5.94 per cent business operations.

Chen Dapeng, Executive VP, China National Garment Association, under the new normal economy, China's garment industry must rapidly increase their ability to innovate with various adjustments and should change to keep up with the development of consumer and market demand. Experts believe that since entering 2015, although the basic clothing consumption continued weakness, the growth rate has stabilized.

 
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