Industry news

Since the beginning of this year, China's garment foreign trade industry has generally remained stable, benefiting from the steady foreign trade policy, exports to the United States, the European Union and other traditional markets to maintain growth, in August textile and garment exports hit a new high in the year. Many enterprises have achieved steady development ‌ through the integration of domestic and foreign trade.

industry challenges and opportunities ‌ : At present, the garment foreign trade industry is facing many challenges, including the profit compression caused by the appreciation of RMB, rising costs and other factors, and the trend of order transfer to the surrounding countries. However, with the substantive conclusion of the negotiations on the 3.0 version of the China-Asean Free Trade Area, the cooperation space between Chinese enterprises and ASEAN will be further expanded. In addition, intelligent transformation has become a necessary way to reduce manpower dependence, increase production capacity and expand new fields.

In order to promote the sustainable development of garment foreign trade industry, it is suggested that enterprises continue to deepen the integration strategy of domestic and foreign trade, strengthen cooperation with high value-added markets, and use intelligent technology to improve production efficiency and product quality. The government should continue to roll out supportive policies to optimize the business environment and help enterprises cope with external challenges.