Textile quotas were eliminated among WTO members at can be of 2005 according to the Agreement on Textiles and Clothing (ATC). However, effectiveness quota removal spread in the US and EU. Subsequently, China reached agreements with all the EU and also the US in June and November 2005 respectively. The China-US agreement, effective from January 2006, governs the exports of earnings of 21 groups involving 34 kinds of Chinese textiles and clothing products towards the US during 2006-2008. The China-EU agreement, effective from June 2005, covers 10 sets of Chinese textiles and clothing exports to your EU during 2005-2007.toppe testo
However, the mainland and Hong Kong agreed in October 2005 to advance liberalise the mainland promote for Hong Kong companies under your third phase of your Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). Along with other products of Hong Kong origin, the mainland agreed to give all products of Hong Kong origin, including clothes, tariff-free treatment starting from 1 January 2006. Good stipulated procedures, products which don't have any existing CEPA rules of origin, will enjoy tariff-free treatment upon applications by local toppe immagine nd upon the CEPA rule of origins being agreed and met.
Hong Kong clothing companies are reputable for ODM and OEM production. They might deliver quality clothing articles in brief lead time, as foreign importers and retailers request clothing suppliers to tighten up supply chain management to ensure the ordered merchandise reaching a store floor for the right time. Increasingly, Hong Kong clothing companies, the established ones specially, have established enthusiasm for brand promotion.toppa testo stampata
Hong Kong's total exports of clothing rose year-on-year by 9% in the earliest 11 months of 2005. While Hong Kong's re-exports of clothing rose by 20%, domestic exports fell by 14%. In the very first 11 months of 2005, Hong Kong's clothing exports on the US and EU rose by 11% and 18% respectively. While Hong Kong's clothing exports to Japan levelled off, those to the Chinese mainland declined by 11%.
Industry Features
The clothing industry can be a major manufacturing sector of Hong Kong. Its gross output is probably the highest of all manufacturing sectors, amounting to HK$35.9 billion in 2003. It is the largest manufacturing employer in Hong Kong, with 1,673 establishments hiring 28,752 workers since June 2005. Also, it is the leading earner regarding domestic exports, taking on 40% of the overall in the 1st 11 months of 2005.toppe personalizzate
Hong Kong's geographic boundary has never constrained the creation of the forward-looking clothing industry. A lot of clothing manufacturers have build offshore production facilities to try to reduce operation costs. Relocation of production facilities offshore has however led to a gentle decline in the volume of clothing manufacturers in Hong Kong.
Hong Kong is not simply a leading production centre but also a hub for clothing sourcing globally. Companies doing garment trade in Hong Kong are familiar with fabrics procurement, sales and marketing, quality control, logistic arrangements, clothing designs and international and national rules and regulations. The professionalism they command along with the combined services on offer are : not easily matched elsewhere. With a total of 15,190 establishments hiring 95,889 workers, they constitute the largest group involved in import-export trade in Hong Kong.
Performance of Hong Kong's Exports of Clothing
Hong Kong's total exports of clothing rose year-on-year by 9% in the earliest 11 months of 2005. While Hong Kong's re-exports of clothing rose by 20%, domestic exports fell by 14%. The contrasting performance of Hong Kong's re-exports and domestic exports was basically ascribed towards increasing relocation of garment manufacturing towards Chinese mainland, resulting from removing quotas under WTO's Agreement on Textiles and Clothing (ATC). Nevertheless the declining trend of domestic exports have been reversed somewhat recently, as a result of re-imposition of quantitative restraints on mainland-made textiles and clothing by the US and EU.
Retail sales while in the US held firm in the earliest 11 months of 2005, rising by nearly 6% from precisely the same period in the year. In the first 11 months of 2005, Hong Kong's clothing exports to your US rose year-on-year by 11%.
