"European sovereign debt crisis for China's impact would be more serious. It is expected that in May and June, and even entire third quarter performance would be more clear, I'm European export growth rate may be reduced by 6% to 7%. "The Commerce Department Dean Joel on 18 founding reporters.
In an interview yesterday, found that the effects of the financial crisis, has not yet been recovered their strength of textile enterprises make themselves take, will once again be euro debt crisis. However, from the current situation, the market thinks this fight will make the entire industry's exports to drop to the level of the beginning of 2009.
Department of Commerce, the latest data show that in 2009, the EU 27 countries imported Chinese textile and raw materials of the total amount while year-over-year decline of 6.2 per cent, but still reached 428.32 billion, China has become the EU's 27 countries imported textile products and raw materials of the largest countries of origin, since the Chinese imports of textile and raw materials for the EU all amount in the amount of imported commodities 41.1%.
30% of the order to euro
European and American market has been China's textile and garment's biggest export destination. From the first textile mesh data show that in recent years, China's textile and clothing exports to Europe's share continued to remain at around 20 per cent of the total.
"In the industry's exports to the US dollar clearing orders accounted for 70%, the euro clearing accounts for only 30 per cent. Exports to the EU textile and clothing, to dollar average is 30%. "Investment securities analyst Kong Jun said that from this perspective, the European debt crisis impact on exports of textile enterprises make themselves take does not like the United States financial crisis just as big as they occur.
"Our company products are exported to the European market, mainly in the US dollar, euro, the amount of the settlement. "Copper ox Group Vice President Jia Xiao bin to reporters.
"The recent Super depressed, my clients all the debt crisis of the several countries: Spain, Portugal. 3 month to single out, it has not been a new order. "A foreign businessmen in forums such complaints.
EUR/USD was recently dropped to its lowest level in four years. BNP Paribas has even said that the euro/dollar is expected in the first quarter of 2011 to parity.
For textile enterprises, the second and third quarter of last year, China's textile and garment exports increased by a slump. This year, an increase of the regularization, the first 4 months, clothing exports keep 9.5 percent growth, reaching $ 322; textile yarn, fabrics and products exports grew by 26 per cent, reaching 216 million.
110 million tonnes of cotton import quotas recently issued
Nevertheless, the hole army believes that European debt crisis caused by the euro fell, on China's exports of textile enterprises still have a certain influence, in about 2 months after the beginning, as the current contract order cycle is generally 2 to 3 months and once prices decided cannot be modified.
Many products have competitive enterprises begin to impact the future possible. Jia Xiao bin told reporters that the company is talking with customers about product prices in Europe.
First textile network Chief Analyst Wang forward view is that the depreciation of the euro is on the one hand, the textile enterprises make themselves take to increased attention to the European market of macroeconomic surface, such as consumption rate, unemployment rate, and so on. This year, the European market than the United States to weak performance. During the first quarter, the average increase in export to Europe is 16.8 percent compared with the United States market growth by 5 percentage points.
From Galaxy securities of overseas marketing strategy report found that compared with the United States economy, European recovery is rather fragile. The euro area and EU-27 countries in the first quarter of this year the growth in both the economic cycles than 0.2 per cent. Greece economic cycles in the first quarter of this year than atrophy 0.8 per cent. Spain's economic cycles than 0.1 percent over six consecutive quarters of economic contraction, the growth of economic cycles than Portugal 1.0 percent increase in the EU. Germany and France both core countries in the euro area in the first quarter of this year the growth of economic cycles than 0.2% respectively and 0.1 per cent.
World economic situation is ambiguous, exchange rate fluctuations, domestic manufacturing costs and export prices references don't seem that are most worried about exporting enterprises this year. Enterprises, in negotiating contracts, European importers will also be suppressed as much as possible, allowing us to further reduce corporate profits.
At present, China's textile and garment exports to Europe, mainly to Germany, France, Italy and other countries, export-oriented enterprises concerned that Europe loan crisis in the future further spread to these countries. Wang forward that enterprise needs or order, the second is to reduce the cost pressure. Recently, the market is reported, the national development and Reform Commission will in the near future, issued approximately 110 million tonnes of cotton import quotas to ease domestic cotton high pressure.
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