The Impact Of Japan'S 9 Earthquake On China'S Textile And Garment Industry

Japan's strong earthquake and tsunami triggered great damage to the country's economy.

Overall right

Judging from the incomplete information analysis, the impact of the earthquake on China's economy will not be too great.

Earthquakes are not fatal to Japan's economy.

The earthquake occurred near the northeastern part of Honshu Island rather than on the land of core economic zones such as Tokyo or Osaka.

Compared with the 1995 ban Shen earthquake, the damage and impact of the earthquake on the economy may be smaller.

Earthquake has a wide impact on China's economy, but its overall impact is not large.

Japan is China's third largest trading nation, and has extensive and close economic ties with China. This will inevitably have an impact on China's economy. However, due to China's trade deficit with Japan, China exported $121 billion 60 million to Japan in 2010 and imports 176 billion 710 million dollars.

Japan may further relax monetary policy after the earthquake, which will further ease the international monetary environment, which will undoubtedly increase inflationary pressure.

From a financial market perspective, Japanese insurance companies will sell international financial assets to raise insurance indemnities, and yen may come back in stages, resulting in a short run in international stock market and a short-term appreciation of the yen.

From a commodity perspective, short-term demand decline may lead to a fall in prices, but in the long run, commodity price increases will not be changed due to increased demand for reconstruction.

Export or impact of textile and clothing

As far as the impact of the specific industry is concerned, the earthquake in Japan will directly affect the industries of China's export demand, such as textile and clothing, agricultural products and so on.

Wang Dingying, vice president of Ningbo Taiping bird group and general manager of Taiping bird import and export company, said she was receiving customers when she got the news of Japan's earthquake.

She immediately asked the salesperson to contact the customer, but many phone calls had been blocked.

The annual export of Taiping bird is nearly US $100 million, of which the Japanese market is about 67 million US dollars per year, accounting for about 8%.

The market has been very stable.

There were two shipments on the day of the earthquake.

"It's not clear what the losses are now, but fortunately we have all covered insurance."

Wang Dingying said.

"There is nothing to do with a large container ship at sea. What worries most is the impact of the tsunami on the dock. The cargo ship can not rely on the shore or be directly engulfed."

Last night, Mr. Pan, the sales director of the Japanese line, talked about Japan's earthquake.

"Last Friday just sent a batch of goods, from Ningbo to Guandong, we should arrive in Hong Kong on Monday."

Mr. Pan is a bit worried because the Kanto harbour is a relatively serious port.

Yesterday, he kept calling customers to send mail to see if they had been lost.

In addition, many foreign trade companies are worried about the aftermath of the earthquake.

The annual export value of Zhejiang new great group is 500 million US dollars, of which the Japanese market accounts for nearly 1/3, mainly clothing and bedding.

"Fortunately, the recent off-season shipments, the impact is not big, but the next psychological bottom."

Jiang Yimin, head of the group.

Zhejiang province commerce department related personages analysis, in the short term, Japan earthquake to Zhejiang

However, Japan's earthquake has little direct impact on China's textile and apparel listed companies.

Logistics is facing pressure of rising prices

According to the customs of Jiaxing, a number of cargo ships destined for Kansai, Japan, have arrived safely, while the cargo ships destined for Kanto haven't been on shore.

"Now the news of feedback is that several ports in Kansai are very busy, and goods are in varying degrees of detention."

Jiaxing customs officials said.

In addition to worrying about the safety of goods, whether shipping fees will rise at the later stage is also a worry for many freight forwarding companies and foreign trade companies.

"We cannot exclude the possibility that some airlines will increase their prices because of risk factors."

The sales manager of another large shipping company in Ningbo expressed his concern.

It is understood that the end of March every year is the financial settlement month for many Japanese companies, and the Japanese Airlines Association's emergency surcharge is also reasonable.

{page_break}

Yiwu, as a heavy logistics area, many goods to Japan are pported by sea.

Learned from several large logistics companies in Yiwu, Sendai port is not a commercial gathering area, but has little impact on Yiwu's logistics industry.

Jin Xufeng, general manager of Yiwu Jinlong International Freight Forwarding Co., Ltd., said that Yiwu's maritime pportation to Japan was mainly concentrated in Tokyo, Osaka and Nagoya ports, and was basically unaffected through the East China Sea.

According to the introduction, there are few Japanese traders in Sendai near Yiwu. They have only two companies. "At present, the relevant representatives of the two companies have broken down, and there is no contact with them, and the company has no backlog of goods shipped to this port."