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Economic Restructuring, the Biggest Challenge to the Interlining Industry
Written by Strategic Planning Team
Friday, 7 January 2011, 11:30
The current biggest challenge in China is not inflation but maintaining sustainable growth by shifting its economic structure, a famous economist pointed out this Monday.
“The national direction regarding the economic restructuring is to build a customer-led economy in the post-crisis environment,” said Sam Lee, the Managing Director in Interlining Source Limited (http://www.interliningsource.com/ ). “This is the overriding challenge in China, and the government is trying to find more balanced way to ensure sustainable economic growth.”
The economic restructuring has great impact to the Chinese industries, especially the manufacturing industries. There is no exception to the interlining industries. Interlining suppliers are facing challenges to maintain survived with their manufacturing on woven interlining, non-woven interlining and fusible interlining.
“Regarding the government’s decision on economic restructuring, the biggest challenge faced by manufacturing industries is how they restructure their business model to best equip themselves to deal with the big change,” said Sam. “This is extremely challenged to the labor intensive industries.”
Besides the goal to maintain sustainable growth, what’s the reason for the government to shift its economic structure?
“Residents’ income in China is still low,” Sam said. “According to figures shown by Morgan Stanley Asia, people’s income in China are only 42% of the gross domestic product, while in the US the rate is 86%. Therefore, the government is striving for raising the citizens’ income. This is especially essential when China wants to stimulate domestic private consumption.”
“Under this economic restructuring trend, it is crucial to the interlining suppliers to take changes in business model into comprehensive consideration,” Sam said. “It is no longer the so-called good old days for the interlining manufacturers only focusing on producing low costs of interlining products like woven interlining, non-woven interlining and fusible interlining.”
“As a pioneer supplier in the interlining industry, Interlining Source Limited is focusing on two aspects to cope with the economic restructuring at a national level, namely, development in new types of interlining products for woven interlining, non-woven interlining and fusible interlining, and improvement in customer service commitment”, Sam said. “For example, researches on environmental friendly types of interlining products are welcome by many interlining suppliers.”
“At this stage, Interlining Source Limited will focus more on the service providing than the new products development,” said Sam. “This is a long-term strategic plan. In order to catch up with the consumer led economy. So for, providing excellent services is a weak point of the traditional manufacturing industries in China.”
Indeed, business suffers more if the interlining suppliers for woven interlining, non-woven interlining and fusible interlining cannot meet the basic service level to customers, even though they can provide the most advanced products.
“We are striving for providing excellent services to customers, not only content with the basic service level,” said Sam. “We already take excellent services commitment to customers as one of our core competence.”
Last Updated on Friday, 7 January 2011, 21:45