国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Chinese textile firms look to thrive in new hot spot

By Zhu Wenqian (China Daily) Updated: 2015-11-06 09:58

Chinese textile firms look to thrive in new hot spot

A Chinese technician displays sewing equipment at an expo in Ho Chi Minh City, Vietnam, on Oct 21, 2015. [Photo/Xinhua]

Vietnam is becoming a "hot spot" for Chinese textile manufacturers when they look to build factories overseas.

One of the main reasons is that apparel produced in the Southeast Asian country for the United States market will be tariff-free after last month's Trans-Pacific Partnership agreement.

Huafang Co, a textile business in Shandong province, plans to set up a high-end fabric factory in Vietnam with a 700 million yuan ($110 million) investment. This will be the company's first overseas factory.

Another 150 million yuan will be pumped into a research and development center in Vietnam to look into new technologies covering the whole industry chain, including cotton, spinning, weaving and dyeing.

Huafang, which is listed on the Shanghai Stock Exchange, is planning to issue about 120 million shares for corporate investors, with an issuing price of about 7.4 yuan per share. This will help the company raise 900 million yuan to finance its Vietnamese project.

"Before the zero-tariff policy reached by the TPP, many labor-intensive Chinese industries had already shifted to Southeast Asian countries," said Zhang Jianping, a senior researcher at the Institute for International Economic Research under the National Development and Reform Commission. "The labor costs there are four to five times cheaper than in China.

"Here, the country is undergoing an economic transformation. In China's developed coastal regions, high-tech industries are springing up to replace labor-intensive industries," he added. "The trend has been gathering pace, and the new policy will speed up the process."

Vietnam has become a major importer of fabrics and a leading exporter of clothing. But weak domestic production has left local companies struggling to cope with international demand.

That was another key factor in Huafang's decision to set up a manufacturing center in Vietnam. Now the company plans to set up two production lines, although it will take up to three years to build the plant.

Pei Chunqu, former deputy minister of trade and industry in Vietnam, said that in the past decade, the textile industry in the country has been growing slowly.

Luen Thai International Group, which is Hong Kong's largest clothing company, Sanshui Jialida TextileCo, based in Guangdong province, and Vietnam's Vinatex Co are planning to establish a textile industrial park.

Hot Topics

Editor's Picks
...
若尔盖县| 资兴市| 汉川市| 五指山市| 临沧市| 开远市| 临桂县| 长沙市| 武宁县| 故城县| 宾川县| 漳平市| 玉田县| 冕宁县| 许昌市| 怀仁县| 陆河县| 抚松县| 红河县| 安福县| 永靖县| 沂南县| 察哈| 荔浦县| 承德县| 那坡县| 安国市| 邵阳市| 科尔| 沛县| 汉中市| 亳州市| 绵竹市| 陵川县| 化州市| 桃园县| 克山县| 大邑县| 克拉玛依市| 永昌县| 闵行区|