Subprime Mortgage Crisis Affects Yantai Clothing'S Way Out

The subsequent release of the US subprime mortgage crisis and the increasing instability of economic growth bring adverse effects to the textile SMEs.

In order to effectively grasp the direction and promote the pformation of production mode, on the morning of 6 th, the Yantai Garment Association held the third member congress. Wu Jianmin, chairman of sulang fashion, was elected as the new president. The leaders of the Yantai Municipal Economic and Trade Commission attended the celebration.

The new garment association said it will face the challenges bravely and promote the healthy development of the garment manufacturing industry in a difficult way and make Yantai make bigger and stronger.

Yantai garment industry association has been making positive contributions to the development of garment industry in our city for ten years since its establishment.

By the end of last year, 254 garment enterprises above Designated Size had completed industrial added value of 6 billion 106 million yuan, an increase of 37.43% over the same period last year; the main business income was 18 billion 11 million yuan, an increase of 21.03%; the realization of profits and taxes was 1 billion 820 million yuan, an increase of 27.09% over the previous year; the profit was 1 billion 319 million yuan, an increase of 27.69% over the previous year.

Clothing output was 215 million 816 thousand and 700, an increase of 103.1% over the previous year.

At present, the clothing of our city has 4 famous brands in Shandong, including "Shu Lang" brand dress (Fashion), "Nanshan" brand clothing, "Oscar" brand shirt, and so on, the famous brands of Shandong, such as "Shu Lang" brand, "Ma Ma" brand, "Chong long" brand clothing, and so on, 3 provincial technical centers of Zhaoyuan Knitting Factory Limited company and Nanshan Group Company.

This year, influenced by the subprime mortgage crisis in the United States, the current global economic growth has slowed down in general and uncertain factors of instability have increased, which has adversely affected China's textile small and medium-sized enterprises.

This year, the garment industry is facing enormous internal and external pressures such as RMB appreciation, export decline, raw material and energy price rise, capital pressure increasing, labor cost rising and so on. Many small and medium-sized garment enterprises in our province are struggling at the edge of losses.

In this regard, members of the new clothing association said that 2008 will be an important period for the pformation of the garment industry. They will adjust their development ideas, pform and upgrade through technological innovation, brand and channel construction and industrial pfer, accelerate the adjustment and reform of the industry, and ultimately improve the overall development environment of the industry, enhance the competitiveness of the industry, and make the garment manufacturing industry "Yantai made" bigger and stronger.

At the same time, the Yantai economic and Trade Commission, as a government functional department, also said that it would encourage and support the work of the association, strengthen credit support for coal and oil pportation and supply, strengthen joint efforts between banks and enterprises, speed up the construction of credit guarantee system, increase credit support to the clothing industry and small and medium-sized enterprises, meet the needs of funds, optimize product and industrial structure, develop characteristic industrial clusters, strengthen and expand backbone enterprises, vigorously implement brand strategy and other measures to strengthen support for garment enterprises.