Tianhong Textile Builds Yarn Production Base In Vietnam

Announcements, its indirect wholly owned subsidiary of Galaxy Galaxy.

The Tianhong Haihe industrial area has entered into an agreement on the paction.

Tianhong galaxy will purchase Haihe Industrial Zone in Haihe District, Haihe, Guangning, Vietnam, with an area of about 225 thousand square meters.

The plot will be used as a production base for the construction group to produce yarn in Guangning, Vietnam.

The cost will be about 61 million 100 thousand yuan, and will be allocated within the group's internal resources.

The Haihe industrial area was established in Vietnam by the chairman and executive director of the group.

Zhu Yongxiang, the joint chief executive and executive director of the group, has 78% and 22%, while Haihe industrial zone is mainly engaged in infrastructure development.

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21, the reporter learned from the Jimo Municipal Bureau of commerce that Jimo's clothing export volume decreased by 1.1% in the first 11 months of 2014. According to the introduction, Jimo's exports to Japan accounted for 60% to 70% of the total export volume, and Japan's consumption tax increased, causing the export of garment exports in Jimo to be greatly affected.

According to the introduction, the total export volume of clothing in Jimo from 1 to November in 2014 was 1 billion 250 million 270 thousand US dollars, down 1.1% from the same period last year.

"Mainly related to Japan's increase in consumption tax."

Liu Qiaoling, director of the foreign trade section of the Jimo Municipal Bureau of Commerce, said that Jimo exported Japan's clothing to 60% to 70% of the total export volume every year. In April 2014, the domestic consumption tax rose from 5% to 8%. Japanese customers asked suppliers to lower the price of product supply, resulting in the lower profits of domestic garment manufacturers' textile and clothing products to Japan, and ultimately the decline in clothing exports.

"Since the spring of 2014, we have not received orders from Japan, and now we mainly focus on domestic processing."

The head of a garment company in Jimo said that Japanese orders were almost unprofitable, and the order volume was often small, affecting the production line.

"A few days ago, there was a Japanese order, although the price was ok, but the quantity was too small, only more than 2000 clothes."

The official said that because of the small number of factors affecting production efficiency, they would not accept.

It is understood that due to the reduction of orders, the company had to lay off workers. In November last year, there were more than 80 workers, and now there are only more than 50 people left.

Clothing companies also believe that the reduction of export orders and the appreciation of the RMB in the earlier period and the weakening of the international market economy environment, "the pressure of inventory on foreign customers is very large now, and many customers dare not place too much orders."

Cui Ning, manager of the business department of Qingdao Huarui Textile Group, said that the factory not only received fewer orders, but also reduced the production volume of each order by about half.

Cui Ning said that the continued appreciation of the RMB last year is not conducive to export enterprises. In addition, due to the increase in domestic labor costs, many foreign customers have begun to shift to India, Vietnam, Bangladesh and other Southeast Asian countries.