Christmas product factories in E China
                 English.news.cn | 2012-09-23 19:38:19 | Editor: Chen Zhi

CHINA-YIWU-ECONOMY-CHRISTMAS PRODUCTS (CN)

Li Sheng (L), who runs a Christmas products factory, has a deal with a businessman in Yiwu, east China's Zhejiang Province, Aug. 25, 2012. As one of the world's largest distribution centers of Christmas products, Yiwu has exported 15,000 types of those products to over 100 countries and regions, which accounted for 60 percent of the market in the globe. But its profits have been dragged down by the surge in wages and raw material costs as well as appreciation of the Chinese currency Renminbi. Furthermore, due to the European debt crisis, Christmas commodity makers are also suffering from sharp decline of orders in western countries, and this year's export is predicted to fall 20 percent, compared with last year, according to Yiwu's trade association of Christmas commodity. Facing the tough challenges, many companies in Yiwu try their best to forge ahead and survive by pushing forward structural adjustments, increasing input in fostering innovation and expanding domestic market. Some product makers also open their retail stores directly in big supermarkets in western countries to reduce the costs of intermediate links they used to depend on. (Xinhua/Tan Jin)

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