China’s textile industry faces difficulties amid financial crisis

2009-01-06 Beijing
 
The export-oriented, labor-intensive textile industry in China has been badly hit by the global financial crisis. Due to the appreciation of the yuan, rising prices for raw materials and increasing labor costs, many textile companies in the country have been forced to close. In light of the current situation, the government is urged to put more incentive policies in place to support the development of the textile industry. On the other hand, textile companies are advised to push forward reform and innovation in a move to enhance their competitiveness.
 

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Another factor believed to contribute to financial crises is asset-liability mismatch, a situation in which the risks associated with an institution's debts and assets are not appropriately aligned.