MOST of China's textiles and garments exporters are optimistic about their fortune this year although they are concerned over a possible yuan appreciation, exhibitors said at a trade fair in Shanghai yesterday.
Such optimism is due to the result of the companies' efforts to adjust the product mix, develop new materials and styles, promote their brands and for some, relocate their factories.
Jiangsu Hongdou Import & Export Co Ltd, an export unit of Hongdou Group, said it expects exports this year to hit US$100 million from US$80 million last year.
"We've learnt from information at the Canton Fair in Guangzhou late last year that this year will witness a stable growth for us," said Lu Dongmei, a company official.
"The deals with the United States and European Union in the second half of last year created a stable market environment," she said.
A new factory capable of manufacturing US$50 million worth of garments became operational in January to meet expected demand, she added.
Hongdou is among thousands of textile and garment exhibitors at the 16th East China Fair which opened at Shanghai New International Expo Center yesterday.
The fair, which covers 103,500 square meters and runs till Monday, has attracted more than 3,500 domestic and overseas exporters of clothes, home textiles, gifts and consumer goods.
Shanghai Silk Group, a major local garment exporter, said it expects a bigger profit this year as it develops more higher value-added products.
"Innovation helps us to withstand trade rows in the world market," said Shi Weiming, general manager of Shanghai Silk.
"Although the export volume fell last year, we got a 10 percent profit rise," he said. "This year we expect the profit to further grow."
Shanghai Silk exports Lily brand women's wear to Europe, the United States and Saudi Arabia and achieved an export sales of US$1.6 million last year.
"We plan to launch more fashion shows in export markets to promote the brand," Shi said. "We hope to earn more by selling our own brand rather than export made-to-order goods."
Despite the upbeat mood, most exhibitors expressed concern over the expected appreciation of the yuan that could add to export costs.
