The Last Batch Of US Textile Quotas Announced The Decline In US Demand.
From January 1, 2009 onwards, China's textile exports will no longer be subject to quota restrictions. Yesterday, the last batch of US textile quotas were announced, leaving only a month and a half away.
According to the tender announcement, a total of 3757 enterprises have the qualification to bid for the agreement. Among them, 6 provinces and municipalities in Guangdong, Zhejiang, Jiangsu, Shanghai, Shandong and Fujian have 1584, 628, 436, 295, 154 and 125 respectively, accounting for 85.76% of the total number of eligible enterprises. However, in the preliminary results, the actual winning bid was only 942 and 25% of the bidding enterprises, of which 6 provinces and cities of Guangdong, Zhejiang, Jiangsu, Shanghai, Heilongjiang and Shandong were 402, 166, 124, 82, 29 and 24, which accounted for 87.79% of the total number of bidding enterprises.
In addition, among the seven categories of bidding, 45% of the hot 340/640 (men's shirts), 347/348 (cotton men and women, men and women, Tong Changku, slacks, shorts) and 638/639 (man-made fiber men, women, boys and girls knitted shirts) had more than a successful bid, indicating that the current market demand for these products is still high. According to the analysis, the dramatic reduction of the bid winning bid of the agreement indicates that the US demand for textile products in China has declined markedly due to the economic downturn triggered by the US subprime mortgage crisis.
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