BizVibe Textile and E-commerce News: China Continues to Lead Markets Despite Labor Competition

21-Jan-2017 Intellasia | BusinessWire | 2:50 AM Print This Post

LONDON–(BUSINESS WIRE)–#China–Despite global economic fluctuations and the beginning of a migration
from China to other Asian countries with lower labor costs, recent
reports show that China is still a world leader in many markets. Details
on the country’s performance and future prospects are some of this
week’s featured stories on BizVibe. BizVibe is the world’s
smartest B2B marketplace
and allows users to connect with over seven
million companies around the globe.


China remains king of global silk market

China
has dominated the global silk industry for centuries
, being the
world’s largest silk producer, exporter, and consumer. Today, the
country still accounts for over 70% of the global silk production and
90% of the world’s silk exports.

The economic growth of China’s silk industry has slowed down in recent
years, as have its silk exports. However, industry experts still expect
slight recovery from this industry. Currently, the country’s total silk
production is around 17,000 metric tonnes, and over 1 million workers
are employed in its silk industry.

Connect
with over 100 silk companies in China listed on BizVibe

Competition in textile and apparel industry
threatens China

China is the largest producer and exporter of textiles and apparel in
the world. While it has been suffering some setbacks in recent years,
the country’s textile industry is still going strong. In 2015, the
textile industry made up 7% of China’s GDP
, and the country exported
USD 11.53 billion worth of textiles.

The cost of labor in China has risen, driving some companies to move
textile jobs to countries such as Bangladesh, Vietnam, and Pakistan.
However, the country still has a great deal of expertise and resources
in the textile and apparel industry, and despite the increase in labor
costs, unit costs have only risen a small amount. Experts still predict
strong performance from China in coming years.

Connect
with nearly 1,300 fabrics and textiles companies in China listed on
BizVibe

China leads global e-commerce industry

China
has become a global leader in the e-commerce industry
, with online
retail sales rising by 33.3% to exceed USD 581 billion in 2015. Sales in
the country are expected to grow by 20% yearly through 2020.

The market in China is being driven in part by the country’s growing
middle class, particularly individuals under 35. M-commerce is extremely
popular, and is expected to make up 74% of Chinese online sales by 2020.
Given these factors, e-commerce in the country has a very bright future.

Start
a partnership with some of the top Chinese companies on BizVibe

In addition to these segments, BizVibe is also home to 50,000+ apparel
and textile companies across 200+ countries, covering all sectors. The
BizVibe platform allows you to discover highest quality leads and make
meaningful connections in real time. Claim
your company profile
for free and let the business come to you.

About BizVibe

BizVibe is home to over seven million company profiles across 700+
industries. The single minded focus of BizVibe’s platform is to make
networking easier. Over the years, we’ve searched far and wide to figure
out how businesses connect and enable trade. That first interaction is
usually fraught with the uncertainty of finding a potential partner vs.
a potential nightmare. With this in mind, we’ve designed a robust set of
tools to help companies generate leads, shortlist prospects, network
with businesses from around the world and trade seamlessly.

BizVibe is headquartered in Toronto, and has offices in London,
Bangalore and Beijing. For more information on the BizVibe network,
please contact us.

Contacts

BizVibe
Jesse Maida
BizVibe Media & Marketing Executive
[email protected]
www.bizvibe.com

 


Category: BusinessWire, PRAsia

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