In June, The Export Volume Of China'S Textile And Clothing Decreased By 4.64% Compared To The Same Period Last Year.

According to the latest statistics released yesterday by China's first textile net, the export volume of China's textile and clothing was 15 billion 64 million US dollars in June, down 4.64% compared to the same period last year.

This is the two time since the entry of WTO into China, garment exports have been experiencing negative growth for a consecutive month outside the objective month.

"It is noteworthy that since the beginning of the two sides' bilateral monitoring mechanism in the beginning of this year, the number of exports of textiles and clothing exported from the mainland to the EU has shown that the export of some categories has risen sharply during the same period this year.

Among them, garments, such as dress, were the most notable ones, up 315% from 2007.

Ma Xinzheng, vice chief editor of China's first textile network, said: "the purpose of the bilateral supervision mechanism is to observe the trade in textiles and clothing between the European Union and the mainland of China, and to maintain bilateral control of the trade process.

We should pay close attention to the reaction of EU manufacturers and the European Commission.

On the contrary, the export situation of the United States and Hongkong, which is second and third largest trade partnership with China, is not optimistic.

This year, 1~6 exported US $10 billion 259 million to us textiles and clothing, and exported US $9 billion 594 million to Hongkong, down 1.03% and 13.12% respectively.

Apart from the well-known factors such as RMB appreciation, subprime mortgage crisis and rising cost, Dai Ling, an analyst with Shanghai World Wide Information Consulting Co., Ltd. believes that at present, many banks have classified textile as a sunset industry and refused to lend money to enterprises, especially small and medium-sized enterprises.

Enterprises have to turn to private financing, the interest rate is about 1 to 4 times the bank interest rate, which makes the financial cost of enterprises rise.

At the same time, foreign buyers dragging the settlement period to gain exchange rate spreads and pfer risks to China's export enterprises.