Several number of overseas orders of craftwork and gifts have been transferred to China in the recent times. Mainly, from the European and USA general merchandise industry, multinational chain supermarkets, and professional distributors, etc. Development and evolution of China’s manufacturing industry – As per the National bureau of statistics reports, it has been revealed that from Jan 2009 to Jun 2015, the China’s manufacturing industry having total industrial output value of 353.4 billion yuan and industrial sales value of 343.65 yuan generated a complete industrial output value of 68.62 billion yuan.
However, these reports are deliberated to provide fashion retailers, who are making plans to enter China for the very first time, with an intention of the Chinese manufacturing industry. In addition, the china Manufacturing industry statistic reports act as a quick update for companies, who have already entered China as it touches on the industry, brands available, trends, wholesale and retail pricing, type of clothing cutting preferred, consumer behaviour and updated regulations. The key challenge is to find out Consumer behaviour and preferences for food, fashion and lifestyle and they may vary dramatically in China. For suppose, traders should not assume the products or fashion styles sell in Shanghai, which will also be popular in Xiamen.
China’s manufacturing economy grew by 10.2% in 2005 and 10.7% in 2006 and also made it as the fastest growing major economy in the world. It is forecasted by the banks that GDP would drop to 8% in China in 2007 though in our opinion GDP rate may be higher due to increased production and consumption. In 2006 China’s urban living expenditure increased at a higher rate than GDP, both on a national as well as provincial basis.
In spite of showing strong growth, inflation remains reasonable with monthly inflation averaging 1.3% year on year from January to September 2006. It is forecasted that annual growth in consumer prices will reach 1.8% in early 2007. This is due to higher land prices which would impact production costs. In turn, increased investment would feed inflationary pressures. The China Government’s tolerance of greater Yuan volatility and the higher GDP has mainly caused and increased the expectations of further exchange rate reform, which would result in faster currency admiration.