Retail Sales In Hongkong Plummeted By 14.6%

The Hongkong census and Statistics Department released the preliminary retail data in January, which was affected by the downturn in the fashion category and the delay in the Chinese calendar year. In 2015 January, Hongkong's retail sales plunged 14.6% to HK $46 billion 560 million year-on-year, excluding the price fluctuation, which still fell by 13.9%.

By category, Jewelry Watches and clocks and precious gifts are still the hardest hit areas. In January 2015, the sales value of this category dropped by 21.4%, followed by a 12.8% decline in clothing sales value, while the number of goods in department stores also declined by 11.3%, while footwear, related products and other clothing accessories also dropped by 19%, while the optician store was slightly better, or 5.6%.

A government spokesman said the January data were affected by the launch of the Chinese Lunar New Year, when combined in 1 and February. Sales data Re evaluation is more accurate. However Hong Kong The retail market weathervane, Chow Tai Fook Jewelry Group Ltd. Zhou Dafu, jewellery group limited released last week's lunar calendar data also showed a downturn, the company during from February 5 to 22, 2015, the same store sales fell 4%, the Hong Kong and Macao market plummeted 29%, while the horse year lunar new year sales of the same store recorded double-digit growth of 16%.

In the period of the year of the lunar calendar, Hongkong continued to break out of the anti free line of action. There were Hong Kong people going to many shopping sites to expel Chinese tourists with words, and the government may also be able to reduce the freedom of action still unclear and other factors also have a certain impact on the short term of the retail market in Hongkong. A spokesman for the Hongkong government also reminded us of the need to pay attention to these factors.

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As one of the largest export bases in China's footwear industry, Quanzhou, under the influence of the European debt crisis, exported its shoes and clothing to Europe. Reporters in-depth investigation interview found that this "curative effect" is mainly because Quanzhou shoes and clothing enterprises are good at catching the business opportunities in crisis, "turning danger into machine".

In Quanzhou, some raw materials used in production of textile, footwear and other enterprises need to rely on imports. Taking chemical fiber with great demand as an example, because of the large import volume of raw materials, the cost of raw material procurement will be reduced with the appreciation of RMB. For example, polyester raw materials rely heavily on imports. Most of the imported raw materials are settled in US dollars. Because of the appreciation of the renminbi, the cost of polyester factories has dropped by 20 US dollars / ton, and the US dollar has become a profit. "Now the renminbi is worth the money, and the same money can buy more goods." A trader who specializes in polyester raw materials said.

In addition to valuing the cost of exchange rate changes, Quanzhou enterprises attach more importance to the increase of added value of products. The European debt crisis has prompted some shoe companies in Europe to sell their products at a low price. In addition to the appreciation of the renminbi, the price gap between the international environmental protection shoe materials and the domestic ordinary shoe materials is currently less than 30 cents on the cost of a pair of shoes. "Because the use of environmentally friendly materials, it is easier to get the favor of European and American businessmen. Therefore, the imported shoe products can sell nearly 10 yuan in price than ordinary shoes." An insider told reporters. It is understood that at present, Anta, XTEP, 361 degrees, and other Quanzhou footwear industry's first-line brand, and more and more attention to the use of imported functional fabrics brought additional value. The cost of raw materials and the added value of products, which are reduced by the appreciation of the renminbi, are the main driving force for these enterprises to achieve net profit growth.

In addition to raw materials, Quanzhou enterprises have also moved a lot in reducing labor costs. Taking into account their own strength and the advantages of matching with the domestic industrial chain, some enterprises have chosen to transfer the production base to the inland. "Inland cities are more convenient in terms of recruitment, and the combined costs are lower than those in coastal cities. In the future, some low profit orders will be processed in the inland factories to ensure the company's benefits. An enterprise official said.

Reporters learned that many enterprises in Quanzhou are actively docking with the processing enterprises in Henan, Anhui, Jiangxi and other central and western regions, transferring part of the orders to local production. "Many factory bosses used to be employees of our factories. After they learned the technology, we not only supported them to go home to run factories themselves, but also gave them some financial help, so now it is more successful to cooperate." Said Mr. Cai, a garment factory owner of Shishi.

In addition to the domestic market, many shoe and clothing enterprises in Quanzhou are looking abroad for low-cost solutions. In 2008, when the global financial crisis came, some enterprises began to study Southeast Asian and South Asian markets through visits to Vietnam markets and consulting firms outside factories. They found that importing some semi-finished products from Southeast Asian and South Asian countries and then processing and selling them were much cheaper than in China.

"We have found that the textile and apparel industry chain in many Southeast Asian countries has been gradually improving in the past two years, and semi manufactured products and low-end products can basically be produced locally from source to finished products. Among them, Vietnam and Bangladesh's textile industry is developing most rapidly. Moreover, they have great cost advantages in raw materials and labor, which makes their semi-finished products much cheaper than ours. Therefore, we began to import semi-finished products from Vietnam and Bangladesh, and then buy them for later processing, so that the whole process costs less than that produced by ourselves. Mr. Cai said.