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'Made in China' tag loses manufacturing cost advantage.

Beijing, Aug 12 (ANI): China has lost the manufacturing cost advantage of almost 20 percent on goods because of a rise in raw material prices.

According to the Shanghai International Sourcing Promotion Center, the cost advantage of 'Made in China' goods has been slashed by 20 percent due to appreciation of the Yuan.

Multinational companies are now shifting purchase orders for consumer goods from China to Southeast Asian countries and Romania, the China Daily reports.

The center said 70 percent of the multinational companies surveyed are still willing to source from China, especially industrial goods, including automobile parts, castings, and machining parts. (ANI)

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Publication:Asian News International
Geographic Code:9CHIN
Date:Aug 12, 2011
Words:120
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