AsiaInspection, a leading provider of quality control services for businesses importing from Asia, today announces the AsiaInspection Q3 2011 Barometer, a quarterly synopsis of Asia-based manufacturing and the quality control services industry.
China's Maturing Economy Challenges Manufacturers
| | China's manufacturers currently face many challenges to stay competitive. Chief among these challenges is the inflation of the Yuan, up 6.2% from September last year, thus increasing the cost of goods for foreign buyers. In addition, this inflation has sparked a government-planned minimum wage increase of 13% every year for the next five years (source: Business Spectator). | |  A textile inspection outside of Hangzhou, China. | | This will mean a higher per-unit cost for Chinese products across the board. This inflation has already driven some international buyers to countries like Bangladesh and India. Supporting this, AsiaInspection saw a 72% increase of ordered inspections in Bangladesh and India in Q3 2011 compared to the same period last year. | Despite Challenges, Figures Indicate Increased Demand for China Products
Even with these factors, figures from China's manufacturing industry in Q3 indicate that demand for Chinese products continues to grow. China's purchasing managers index (PMI), while down slightly in September at 49.4 from 50.9 in August, still suggests 12-13% annual growth by year's end. AsiaInspection figures also saw a 27.5% increase in inspections ordered within China year-over-year in Q3 2011.
Press Contact
Michael Mesarch
Tel: (+86) 755 2223 9888
Email: press@asiainspection.com |
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Fotorama UK Ltd
Sales Director
www.fotorama.co.uk |
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