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LED lighting is like the rising sun “money” bright

Lighting industry, operating costs and risks of rapid expansion, competition among enterprises to upgrade from the implicit explicit. ASEAN and China since the implementation of a free trade agreement, Indonesia will be subject to energy-saving lamp production industry a severe blow to the remarks about ill-founded, because there are now from China and South Korea’s world-class energy-saving lamp manufacturer to prepare local companies to cooperate with Indonesia to jointly In Indonesia, the establishment of energy-saving lamp production base, in addition to local promotion, but also plans to export the international market.

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The intention to invest in the two international energy-saving lamp enterprises, one is in Zhongshan city, Guangdong Province, China Op Lighting Group (Op-ple), the other is South Korea’s Samsung Group’s energy-saving lamps sent Dulux company (Pleomax), which two companies are considered the world’s 32 largest energy-saving lamp manufacturer list.

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Electric Company Chairman of the Association of Indonesia in Jakarta on Wednesday, said John: Op Group and the company sent Dulux very sincere investment in Indonesia, currently looking for local partners, Op group even has links with Indonesia LenteraJaya company, said about 2 to requisition hectares of land as the future of the plant.

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John also revealed that Indonesia’s electric light business associations have 22 energy-saving lamps manufacturers, these companies want to work with China or South Korea on the business, because you can pipe through cooperation to enhance its market competitiveness. He said: “If these two international companies to set up production bases in China, the future will be able to reduce imports of energy-saving lamps, and even increase the export value of Indonesia on the current market, we can only account for 22 manufacturers 30%, the share of other imported goods have been accounted for. “energy-efficient lighting market” money “immeasurable, then how companies in the fierce market competition, firmly occupy the market, and expand their market share, has become urgent to solve every business a problem.

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Silk Industry in Guangxi to upgrade in sight

According to the Ministry of Commerce, “The Crux,” a major guiding idea is to accelerate the Midwest mu cocoon bases, promoting the silk technological innovation, promote the development of Silk own brand, and promote trade growth pattern, to achieve the silk industry strategic restructuring and upgrading. The National Public Information Committee on April 2 release of “on promoting the transfer of the textile industry guidance” to encourage the eastern region in addition to upgrading the textile industry, emphasized that the manufacturing part of the transfer to the central and western part to reduce costs and improve industry competitiveness.

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Despite the deep processing of silk industry in Guangxi, the climate has not formed, but its annual to maintain 200 acres of mulberry area and accounts for nearly 1 / 4 cocoon of the total industrial base advantage, or confidence in local government, but also to more many businessmen saw an opportunity.
Last September, the Guangxi Sericulture Technology Extension Station led the formation of Guangxi “silkworm cocoon industry technology innovation strategic alliance” was officially launched the pilot, 17 federate units scene signed “silkworm cocoon industry technology innovation strategic alliance” agreement This is also the first country in the field of sericulture industry technology alliance. According to reports, the Alliance is to build a common development, joint research, common market, the exchange of information and technology together, the results together into work together to overcome common problems, common training and with government departments in Guangxi brand communication platform. Guangxi government and big business on the passion of the silk industry more visible.
Currently, the mulberry cocoon on raising is becoming a part of Guangxi, the county (city) farmers’ income, poverty alleviation, promote local economic development one of the pillar industries in Guangxi also become the most potential for development of silk industry in the region.

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Yizhou or into China’s emerging Silk City
Guangxi Zhuang Autonomous Region government has issued in accordance with the “mulberry silk industry in Guangxi circular economy (Yizhou) demonstration base construction program”, Yizhou, Guangxi will build recycling economy demonstration base, and change resources for the industrial and economic advantages, in Yizhou the establishment of a number of scientific sericulture model village, Model Town, foster the development of a number of sericulturist professional cooperative organizations, supporting a number of sericulture development and utilization of resources in a typical combined cycle, to introduce and strengthen a number of deep processing of silk enterprises, to build Yizhou of Guangxi and the country has some influence on silkworm production scale, standardization, industrialization demonstration base of the county (city),
Cocoon and Silk Industry in Guangxi promote further development of sericulture, efforts to fight the west of Guangxi’s largest silk processing, trade and cultural center of modern silk.
In the specific development goals by 2015, Yizhou to develop 30 acres of mulberry, cocoon annual output of 5.4 million tons; foster the development of silk processing enterprises at home 12-15, processing industrial chain extended to areas such as silk, annual output of 3800 tons of raw silk, gray silk fabric 10 million meters of silk to be 200,000; cocoon production, silk processing and comprehensive utilization of resources output exceeded 40 million.

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Affirmative Yizhou Huang told reporters, Yizhou sericulture has a long history, as early as the Ming Dynasty had Jiajing Yizhou sericulture farmers. In recent years, to grasp the “Crux” of opportunity, Yizhou government silkworm industry as the first industry to nurture. As of the end of 2009, Yizhou Mulberry area stabilized at 25.5 million acres, sericulturist 119,000, the city’s annual volume of 1.1 million silkworm rearing, cocoon production of 40,000 tons, output of 920 million yuan, accounting for cocoon production in Guangxi, 25% of national output and 7%, became the country’s largest silkworm production base counties (cities) and raw silk production base in Guangxi’s largest counties (cities). In addition, Jiangsu Hengyuan Silk Group, the domestic giant, Yizhou also introduced Wellink silk,
Maoyuan silk, silk & Phoenix more than 10 silk processing enterprises, the city’s annual processing Ganjian 10,500 tons, to produce raw silk of 3,000 tons, with the “Southern Silk Reeling,” “Third Sister Liu”, “beauty with love” and so on Silk brand silk industry cluster formed scale.
Huang stressed that equal rights for the successful completion of the new Chinese silk will Yizhou city, the municipal government will strengthen the support for sericulture farmers, who planted 500 acres or more contiguous acre Mulberry financial assistance from the $ 50 for demonstrative Sang give farmers 100 yuan per mu of mulberry subsidy of 1,000 yuan each year to give sericulturist micro-credit by the financial discount for poor farmers in the village and reservoir resettlement free mulberry and so on. Meanwhile, in order to accelerate the construction of industrial park Silk characteristics as the starting point, highlighting the deep processing of silk, increase investment, and focus on fostering development and growth of silk processing enterprises, to expand the economic development of silkworm cycle, from raw materials to product-place appreciation of the silkworm in the construction of house, barn cocoon, reeling and processing enterprises and other production sites with regard to the simplification of procedures, reduction of fees, priority review and a series of preferential and flexible policies.
Can be expected, as the “Crux” continuous progress, soon to upgrade silk industry in Guangxi, Yizhou unlimited potential will become China’s new Silk City.

 

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The first half of this year, the economic operation of printing and dyeing industry

Global Textile Network September 6 News China Dyeing and Printing Association recently released the first half of this year, the economic operation of printing and dyeing industry, printing and dyeing cloth production among Fujian, Zhejiang, Jiangsu, Shandong, Guangdong, the ranked No. 5, Shishi Fujian Province as the most important printing and dyeing industry base, printing and dyeing industry’s position in the country although important, but the “big but not strong” is the main feature.

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The first five months of this year, enterprises of scale dyeing cloth production 21.658 billion meters, up 16.07%. Zhejiang, Jiangsu, Shandong, Guangdong, Fujian and other five provinces in the east coast, the country’s total output of 92.26%. Fujian 1.295 billion meters, up 26.59%, accounting for 5.98% printing and dyeing cloth production. Fujian Changle dyeing main base, Shishi, Jinjiang, etc., Changle to the main warp knitted fabric dyeing, knitting dyeing total capacity of slightly larger than lions, the lions to the main weft knitted fabric dyeing; Jinjiang high temperature dyeing of chemical fiber cloth comparable with the total capacity of the lions, woven cotton fabric dyeing capacity is largely concentrated in Shishi, Fujian Shishi dyeing capacity is the most concentrated area.
Although, printing and dyeing production capacity in Fujian Province ranked one of the five provinces, but the printing and dyeing products, import and export point of view, not the list of the top five in exports and imports, by the location of Fujian, Shanghai, replacing . Shishi dyeing capacity of the province’s largest, most complete printing and dyeing fabric type, printing and dyeing industry characteristics Shishi, Fujian Province, basically reflects the operating characteristics of printing and dyeing industry.

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Shishi printing products are basically all the kinds of casual clothing fabrics, knitted fabrics primarily for casual sportswear and children’s clothing manufacturer, as the world’s largest roll material fabric production; casual cotton woven fabric, 80% of production in Fujian, 80% of production in Fujian Shishi.
Lions dyeing and printing industry in the national counterparts in several projects in first place, and even ranked first in the world, but there is no sense of pride, because all aspects of the production number of the first, the lions of the Tencel fabric is not always popular decline, the lions share of the global Tencel 90% of production, but industry efficiency continued to deteriorate. Shishi Dyeing Association Secretary-General Wu Guangyu sharply pointed, Shishi City, printing and dyeing industry as a whole is still in the extensive production and management level, industry advantage not to play, often in a passive capacity advantage of the situation. Consumption of printing and dyeing industry lions serious competition on the international market participation is very low, the price of shopping for many years not only to make the trade, industry, even the province, other provinces have also criticized endless, Zhejiang, Shandong and Guangdong, and gradually withdraw from all the lions cotton woven fabric in the competition, lions printing sector sad to say, own the advanced production makes up the backward production capacity!

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Shishi Dyeing Association is in accordance with national requirements and eliminate backward production capacity of the order management industry, the first act is to regulate competition in the industry. Next, you want to encourage innovation and advanced protection work, will publish “Shishi printing and dyeing industry, intellectual property (first) project directory”, using the system to ensure the advanced production capacity into full play, and guide the lions printing industry to participate in international competition in the market, completely change the printing industry strong, but not great lions of the situation is “five-second” period of important content.

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Ba Jin VS SEVEN: competition and cooperation in the development

Cooperation to avoid destructive competition. Especially in the information society, as flexible and virtual connections, the relationship between enterprises is no longer incompatible product competition, but to seek common progress. Companies must change the concept of competition, the competition often lead to destructive price war, quickly lower corporate profits, although this can be achieved in the short term effect of a certain hit the opponent, but also a blow to employee morale and undermine the basis of the enterprise so difficult for enterprises to revival.
Proved in the past that only the peers as “enemy” that competition will not have the cooperation point of view is one-sided, harmful, it is often unnecessary friction, internal friction and waste. The combination of competition and cooperation, competition and cooperation, we can break through the limitations alone, to their own strengths and combine the advantages of other companies, to maximize the strengths of both sides out, both to improve their competitiveness but also enhance people’s force, to achieve a win-win or win.

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Ba Jin VS SEVEN: brothers hand to be when
In Quanzhou, clothes do make shoes, Ding freemason and north-south across the two surnames Quanzhou shoes is synonymous with the two industry family business. Into the 1990s, freemason in the clothing line of business increasingly flourishing population, and Hong Zhao Hong Zhaoming located in Jinjiang Ying Town were two brothers create Rimula and Qipai two cutting-edge brands.
Ba Jin’s brother and Qipai merger has been the focus of the outside world, however, two non-pro does not light a long time, want to co-relationship between the people also have doubts points:
Town of ninety-three road in the UK, Ba Jin and a few hundred meters away from SEVEN, but not from the imagination is so close, but also smell the smoke of the state of competition in taste. At first glance, after years of operation, we seem to be able to get what they want, have their own product positioning and market network, more a pragmatic attitude. The Hung brothers several historical changes, although everyone is saying the current competitors were not important, but in recent years, “Min-goods production, tree brand,” the wave must be competing with.
Ba Jin VS SEVEN: competition and development
Main products: Qipai exhaustive initial flagship product type, until 1998 to determine the suit’s main market road, after some period of selection and elimination. Qipai still in the time leading product selection, Rimula has clearly positioned in leisure jacket, the main 30-year-old to 50-year-old mature male casual clothing market. Two companies also formed in the field of men’s suits and jackets complementary market segments.

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Channel change: Rimula chain management of its extension, broke the so-called new marketing strategy, and claimed to be the first apparel industry in Fujian Province. This is particularly interested in inventory for the dealer discount, new market push rather not push the old and new image is difficult to establish, difficult to place the issue out of service response. But now, the effect of the marketing strategy has not reached the expected Rimula, because the original sales management information system feedback data error larger, slower.
Freemason new force, the rapid momentum of the older generation can not but feel the pressure,  brothers are set to strengthen its sales network, as this will not force the original tune for the withdrawal of the Shandong branch sales company, and in this year’s order break the traditional conference calls, update the marketing strategy. But the discerning eye can see Qipai focus on healthy, young men seemed slower than a beat.
Voice: In June, the spokesperson for the Hong Zhongxin please Chiu, put 50 million ads, Chiu’s price tag than the same popular star to a high degree. The first step in the introduction, although Qipai concept of the endorser, but the star power supermodel Hu Dong, obviously inferior to Chiu.
Expansion: Currently Rimula and SEVEN are sparing no effort to build more factories and take a back seat this time is the site of the Hong Zhaoming personally Governor array; Qipai Yu Jian also invested 10 million of the region’s largest apparel industrial plants. In this regard, the two made no secret of its own in the region due to the number one production scale and economic strength, because with a strong seasonal apparel products, likely to cause death if the goods do OEM, and then another time to recover a single but too late, it must have its own production lines, flexible small-series production, the market is reflecting a lot of good and single.

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Big contest:
Hong Zhongxin has China announced intention to move its headquarters to Shanghai. Hong Zhongxin keen city a piece of “Talents”, it is also busy restructuring. The preliminary plan is within the flood holding, Shanghai from August, please do a public consulting firm guidance, the program can be introduced later this year. In contrast, Qipai four shares under the group of unknown trouble also deeply headache, is prepared to do equity reform. Hong Zhao family system set up, though not nostalgia the many benefits of trust and decision-making, but has made clear that to meet the WTO, with the paternalistic management style waving.
Is divided are combined?
CCTV advertising the 2002 World Cup at the tender, Ba Jin and Qipai while bidding, advertising costs are 9.2 million yuan into the CCTV advertising rookie. After two ads often simultaneously. Hong Zhao set up this explanation is not intended to do two, who is and who is not a rivalry, just as Ba Jin and Qipai too close, with an advertising company to the natural clean sweep. But anti-words, which might be seen as two hands move the joint trial.
Hong Zhao merger of the two views is located very interesting: “to do two separate, two Chinese garment industry will have a brand, you can also open two stores in one place.” In other words, Ba Jin, and there are separate Qipai conducive to their growth in the competition, the two current priority is to strengthen their competitive advantage.
All in all, although the two brands in different market segments, respectively, but in brand communication and marketing has always been distant echoes. Quanzhou is one of garment industry, distribution center, bringing together the tens of thousands of garment enterprises. The success of competing brands, so that the “freemason” clothing brands, in large men’s market, the rapid growth of leading enterprises

 

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Network of wholesale shop will be the choice of the seller

Online shopping in the past 10 years rapid development, and in the next 10 years will be a “national shop era.” The ensuing from the business also has kept a lot of people around the corner. Supply business, consignment shop and other properties of the agent a growing number of B2B websites. Alibaba also this year launched a 1688 Wholesale, wholesale business opportunities available to the network much.

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Reporters recently discovered that more spotted a network of wholesale shop sellers a quick and easy to choose an online purchase. Online Shop sellers can save the network to run the wholesale market in time, as long as the moving hands and the little mouse can solve the problem of purchase. Although the network is limited to the wholesale market on the computer screen, but the variety of goods than the wholesale market but also variety. Wholesale network in the form of flexible, a generation of fat such as new model reduces Shop sellers investment risk.

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Good editor would also like to supply network, told reporters that “good supply network, though based only a short time a few months, but in a good supply line has been assigned to a member of hundreds of suppliers at the same time, more large sellers in the shop Online wholesale purchase a good supply now, should habitat, and other well-known lingerie brands Luodai children with a good supply business are closely linked website, they also took a fancy to the network outlook and trends in the wholesale market, wholesale and network for the brand dissemination of significant results. ”

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Network of wholesale mall advantage embodied in the two points, one price is superior, more in line with the purchasing power of the public; second variety, to meet the needs of more people. Correspondent that a good supply online line soon made such a large part due to gratifying results we always adhere to the “customer first, customer first” philosophy, with persistent unremitting efforts to improve the wholesale part of the building, so the closer to the actual needs of customers, based on the expansion of another piece of our customers a broad market space.
It can be predicted, the network will become the shop sellers buy wholesale purchase of choice, the prospect of very impressive wholesale network.

 

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Cotton fever: Many textile enterprises were forced to close down a break

Price of cotton

Business Club News November 18, cotton prices is supply and demand round of the concentration of the outbreak. Cotton production expected to exceed 10%, while the renewed growth of Chinese textile industry, to bring support to the cotton market.

High fever cotton prices have been burned downstream cotton spinning enterprises. “Our orders rose 30 percent last year, to maintain single-digit increase next year is very good.” Shanghai Flying Horse Import & Export Trading Co., Ltd. (hereinafter referred to as Shanghai Pegasus) cotton prices, general manager Lu Longsheng about the impact on business worried, he said, cotton prices have doubled this year, and may Shanghai Pegasus products have a 20% price increase is difficult to accept the customer canceled the order, rather than raise prices it means a loss, so if cotton prices continue to go up and downstream Only a few companies take orders, not even then.

Lu Longsheng concern is the textile and garment export enterprise in microcosm. “Shanghai Pegasus can be said that textile and garment export-oriented enterprises in the representation of business and it’s export value, export volume and export price changes, reflecting the typical situation of this industry.” Editor in chief of China’s first textile network, Wang, senior analyst, said forward.

Shanghai Textile Group Shanghai Pegasus is one of its main export, the total sales of $ 260 million last year, of which 80% of textiles. Textile exports through Shanghai Pegasus, mainly sourced from outside the factory, a small amount from its own production.

Canton Fair has not received a single

In an interview with Post reporters the week before, Lu Longsheng attend the Canton Fair in Guangzhou has been, but the scene at the fair, he must not only reduce the pressure on the face of the order, but have not received a single to bear the pressure. In addition to this pressure from yuan appreciation factor, and more from the “raw cotton, cotton yarn, fabrics, processing of” the entire chain from the conductive layers of cost pressures.

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“Not orders, ah, now cotton prices go too hard, if our end product difficult to raise prices, but also made a loss.” Lu Longsheng frankly, Shanghai Pegasus basically only three months short-term orders, not received long-term orders.

Shanghai Pegasus every order must go through the following steps: negotiating with foreign clients, both sides confirmed the price, delivery conditions, Pegasus will order work to the Shanghai production base in Zhangjiagang, a long-term cooperation factories that purchase from the Jiangsu and Zhejiang and other areas fabric, for mass production, and finally, export deliveries to foreign customers.

“Cotton prices have gone up, then prices of cotton yarn, fabric prices, prices of finished products had to.” Lu Longsheng said, one dares not take long, because it is difficult to determine the cost and price of a single long. “Now we take the idea is to prefer short single low profits, we should try to retain customers, reduce customer churn.” And before the financial crisis in 2008, Shanghai Pegasus are generally connected to a long list, there are half a year, also one year.

According to reports, for the surge in cotton prices, this autumn’s Canton Fair orders textile enterprises generally offer participants an increase of 20% to 30%, or even individual products up to 40% price increase. However, foreign investors more than 20% of the price increases generally difficult to accept, some European and American customers have started to reduce the amount of purchases in China, some low-end products tend to be more procurement from Southeast Asia.

Ignore the new policy of hot money

Lu Longsheng said growth by domestic demand, driven by improved exports, cotton prices have been steadily rising this year, but since September, talks about up more crazy, Diego high.

Market analysts believe that the current round of rising cotton prices is supply and demand of the concentration of the outbreak. Because this year’s cotton production is declining dramatically, is expected to cut more than 10%. Affected by adverse weather, the quality level is low, harvest was delayed. Coupled with the demand side, China’s textile industry to restore growth, to bring support to the cotton market.

Data show that textile and apparel exports and wholesale retail sales growth, now basic to pre-crisis levels. Analysts believe that demand fast recovery is the main reason for this round of cotton prices.

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But for the recent surge, the State Securities analyst Zhang Bin said the textile industry, financial speculation should be a key reason. In his view, the domestic cotton price spike has always been the key reason is the processing area, circulation and business is always looking forward to spinning cotton, low-cost store to profit making enterprises and social inventories dramatically. Zhang Bin also emphasized that this is not only involved in cotton speculation funds in previous years remains the same, but there are additional funds in its apparent policy of turning a blind eye to the new funded entirely by big store goods in the spot market, two in China and the United States cotton futures market continue to push up prices.

Midstream processing enterprises more vulnerable

Lu Longsheng, from the cotton to garment manufacturing is a complete industrial chain, cotton is spun into yarn and then woven into the white embryo, made of fabric after dyeing, and finally purchase by the garment manufacturing garments. Cotton is one of the basic raw materials of textile and garment industry, once the price rose, the whole industry chain will follow price increases.

“Cotton yarn, fabric price is a price one day, factory also began to raise prices.” Shanghai Pegasus, a salesman Li Ching (a pseudonym) said his main job is usually the contact with foreign customers, looking for the next garment factory orders, but this year is difficult orders, orders to factories is difficult, cotton prices have been completely disrupted the rhythm of his work.

Lu Longsheng said he was familiar with the middle and processing enterprises can not expect to cotton prices rose so high that most companies have reduced inventory, did not expect prices to continue rising, followed by a vicious cycle – there is not enough cash to increase inventory, but also increase prices and not worry about inventory. Since 2008, cotton was the highest from 1.8 yuan / ton fell into more than 9000 yuan / ton.

“But I also said that with many familiar plants, price trend is very clear now, can not but increase the stock.” According to Lu Longsheng introduced since September after soaring cotton prices, the price of fabric in October to start the day a price, and stocks slightly higher before the anti-risk ability to slightly strengths.

However, in processing plants, traders, foreign customers ‘cost’ game, the factory is no doubt in a more vulnerable position. Lu Longsheng admits, “traders such as Shanghai Pegasus there is a certain space,” but “has no room for the factory.” “Although the plant margin (3%) than we do foreign trade (1%) slightly higher, but because many people plant, Tandao each person’s profit is very small.” Because of inability to cope with rising costs and other negative factors, “there are a lot of factories have recently turned off, and we are basically self-factory has shut down, and now the main production are outsourced to a production base in Zhangjiagang.” Lu Longsheng said.

Affected by the cotton at the same time, profits of export-oriented enterprises are still faced the challenge of exchange rate fluctuations. According to Lu Longsheng, the recent appreciation of the renminbi nearly 3 percent, directly down the profits of export-oriented enterprises. “We are the main way to avoid the impact of the exchange rate is locked exchange rates, the results were good.” Lu Longsheng said they negotiate with the bank to a fixed exchange rate, until the implementation of the transaction here, you can estimate the risk.

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“Had a hard time next year.”

China’s first textile network editor, senior analyst Wang forward that the medium to long term, high cotton prices, not only in China, in the global market will become the norm next year, cotton prices at 2 yuan / ton on top of high is a high probability event.

China Cotton Association, who expects the year 2010-2011, the world’s cotton is in tight balance of the pattern, cotton stock consumption ratio is the lowest level since 1994. China’s cotton demand is still strong, rigid gap is still in strong support of cotton prices. For a long time, next year China’s pattern of higher cotton prices will continue to follow. Short term, according to the China Cotton Association’s expected, and even 12 in the beginning of the end of November, the domestic cotton price trend is expected to rise sharply curbed.

Lu Longsheng introduction, cotton and other raw material prices rising rapidly, despite the direct result of textile and clothing prices, but the different grades of products are affected there is a big difference. Low-end products with low added value, and its main competitive advantage is low price, and thus subject to greater market impact costs. The implementation of high-end products in brand strategy, which is mainly reflected in the high value-added product design, development, promotion and brand culture, the raw material in whole low proportion of product cost, less affected by changes in cost.

“As the cost of cotton textiles accounted for different different, high-end products due to the design, brands and other premium high level of raw material cost is relatively low, so we are ready to give up the low end, high-end products to avoid one o’clock to increase the pressure of rising cotton prices . “Lu Longsheng said that last year acquired a towel Shanghai Pegasus old brand” double shipping “, this year has already started to export in the Hong Kong market price of nearly HK $ 40 / bar, and good sales, is preparing to accelerate the promotion of South-East Asia, but also plans in the mainland market promotion.

Peking University School of Economics Professor Cao Heping analysis, in the industrial environment is relatively stable, due to rising costs, foreign trade enterprises will accelerate the transformation. The textile industry, for example, before the company’s general business is characterized by large-scale, and the price competition evident; but with rising costs, reduced demand, business is bound to increase value-added products.

Lu Longsheng expects cotton prices to the round end of this year or early next year may be relatively stable, but prices are difficult to decline significantly, the Pegasus Shanghai’s exports next year the situation is not optimistic. “This year’s orders to maintain the level of good.” Lu Longsheng said his most optimistic goal is to have single-digit growth, the target rate is the lowest level of recent years.

 

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