Shaoxing Export Record High in July

The export reached 2.2 million UD in July. Some textile company in Qianqing annouced this brilliant record and quoted it as the highest one in its 10-year history. You may know by a handful the whole sack. Shaoxing released its latest foreign trade report that the import and exported were 1.02 billion USD, up 34.9% from the same period last year. Of which, the self-management of export were 830 million USD, up 37.3%, a record high in its history.

The industry insider anaylzed that in the late half the export would keep the growing trend. While considering the upgrading program of dyeing industry and policy adjustment of macro economy, the growth rate might slow down and exporter would undertake higher pressure.

An official from Shaoxing Customs said the policy changes might impact the foreign trade. For example, China abolished the export tax rebate for 406 products since July 15th; the obsolete production facilities from 18 industries would be closed down by the end of Sept. This movement invloved 44 companies in dyeing, chemical fiber manufacturing and tanning business in Shaoxing, which accounted for 25% of the total obsolete-mill in Zhejiang. The prospect of global martket is still unclear and the European debt crisis may last, as well as the trade protectionism is growing over the world. All those factors might impact the foreign trade business in Shaoxing, because of its labor intensive character.