CHINA: Urban residents spending more on clothes
The state Administration of the Textile Industry in China reported that urban Chinese have been spending more on clothes, shoes and fashion commodities since the beginning of the year, Textile Web said yesterday. The disposable income of urban residents saw an annual increase of 8.7 per cent in the January-June period, averaging 543 yuan per month. They spent some 405 yuan each month, and 46 yuan on clothing, up 5 per cent year-on-year, officials reported. In the first six months, manufacturing costs were up considerably, due to a significant increase of the garment trade on the domestic market and a price hike of raw materials. By June, factory prices for textiles grew by 3.7 percentage points and that of chemical fibre products by 22 per cent.
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