▶ Guangxi tourism booms
and the unstable exchange rate, we still have confusions about the future,” he said.
Ouya Ouyang noted that because of the unstabl unstable exchange rate and rising material costs, they are often afraid of rec receiving orders for fear of incurr ring losses. His sales revenues d dropped by about 30 percent on a yearly basis in the first three mon months of 2021.
How However, experts have said that oversea overseas companies’ adjustments in invento inventory, instead of order shift, has been th the underlying reason in China’s garmen garment export growth slowdown.
“The pandemic has in general sho showed a rebounding tendency around the globe since February, which has quenched some overseas clients’ import inclination as they hadn’t expected the pandemic to resurge,” Chen Jing, vice president of the Technology and Strategy Research Institute, told the Global Times.
But he noted that despite the fluctuation, the fundamental situation of China’s garment exports has been “stable”.
Rise of domestic markets
The garment companies interviewed by the Global Times said that they are now paying more attention to domestic markets to support their business.
Jin, for example, said that they started to attend domestic trade fairs and got in touch with Chinese clients in the second half of last year, and the results have been satisfactory. Around 30 percent of their orders are now placed by mainland customers, while the proportion was only about 5 percent before.
Ouyang also said that they have started to explore domestic markets to a greater extent, including using novel channels such as the popular short video platform douyin. com.