Home Textile Exports|August 2019
Despite the fact that China’s economic development has been stabilizing in recent years, the ongoing ‘consumption upgrade’ and diversified market demand are still driving growth in the home textiles industry. In response to the ever-changing market environment, this Autumn’s Intertextile Shanghai Home Textiles, held from 28 – 31 August, continues to enrich its show offerings, presenting more quality suppliers, contract business exhibitors and finished products for visitors.
China is still a haven of opportunity for overseas home textile brands. The country now boasts around 33 million middle and upper-class households according to the Chinese government, using a more narrow definition of this group than usual that takes into account disposable income relative to the cost of living. The annual household income required to be considered in this group in first-tier cities is set at around USD 44,500 and above, while for other cities it is around USD 30,000 and above. Within the 33 million households, around 10 million are considered to have the strongest purchasing power for the home textiles sector as they have combined assets of around USD 450,000 or more, usually including their own home.
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