China : Mengna worry-free in face of export rebate cuts

Although most of the clothing manufacturers in Zhejiang province are apprehensive about the 2 percent decrease of export rebated rate, officials of Zhejiang Mengna Knitting Co Ltd, are not at all concerned.

An official from the company said that export accounts for half the sale, however, from a long-term outlook, it would be very helpful for the development of the organization.

Mengna Company set up a facility in Hong Kong, last June, with a total investment over US $12 million. This plant has become an important base for group as it receives export orders from Europe and America and products manufactured here will not be affected by this new policy.

Recently, Mengna has adopted latest technology, to develop new products. Now the company targets to set up a design center in Hong Kong.