Construction of the Rmb2.5 billion China International Garment City began in Suzhou in June and will be fully opened for business next March. Situated at Xiangcheng Commercial Centre, it will cover an area of 62 hectares. It is due for completion at the end of this year and will be the top choice for national garment trade fairs and fashion shows in China when completed.
The international garment city will bring together all available resources, optimise different modes of business, and provide a platform for garment trading and supporting services in the form of wholly-owned business, joint ventures or leasing. Thus, it will be a large specialised international market with multiple functions.
Experts expect the international garment city to generate Rmb10 billion in annual turnover, with profits and taxes amounting to Rmb500 million. By 2010, annual turnover could reach Rmb15 billion, contributing to about Rmb8 billion in GDP.
