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Industry

Business insiders say China's fur industry resilient amid trade tensions

July 25, 2019


Abstract : China's dominance and uniqueness in the fur garment producing sector have enabled its industry players to retain confidence amid the ongoing U.S.-China trade tensions, business insiders said here recently.

NEW YORK, July 24 (Xinhua) -- China's dominance and uniqueness in the fur garment producing sector have enabled its industry players to retain confidence amid the ongoing U.S.-China trade tensions, business insiders said here recently.

Amid the U.S.-initiated trade tensions, "now, we just offer a bottom price to our U.S. customers and would not bear any additional costs," Whiskey Zhang, manager of Chinese company Tongxiang Yuhang Fur Product Co., Ltd., told Xinhua during Texworld USA, an ongoing international textile show.

Zhang said his company, which has business in the United States for quite a few years, lowered sales price by around 5 percent, while most of the additional tariffs were absorbed by U.S. importers.

The United States and Europe are major overseas markets of Chinese fur products, Zhang said.

U.S. importers have no choice but to bear most of the costs as only China has such a complete industry chain, he said.

Zhang's company, located in Chongfu town of east China's Zhejiang province, is just one of the over 1,800 fur companies in the town. In 2018, the output value of those fur companies in Chongfu with a complete industry chain reached 2.3 billion U.S. dollars, according to a local report.

Besides, Zhang said he can also get many raw materials for fur products from his hometown in northeast China, thanks to the cold weather there.

Fur business would not be relocated out of China because the raw materials are from China, echoed Costa Juliana Solomon, manager of U.S. company Bicker & Banter, LLC, a business partner of Zhang's company.

"We've been producing together for over five years over this ... It works," said Solomon, who now travels to China almost every month to take care of her fur and leather business.

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Keyword: China fur

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