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Mayor denies Dongguan manufacturing decline
By Tao Yingcen |
July 21, 2011, Thursday
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Online Edition
Online Edition
Officials from Dongguan in Guangdong Province, one of China's largest manufacturing bases, denied that the city was facing a wave of closures in the manufacturing sector due to rising labor and raw material costs and appreciation of Chinese currency, Nanfang Daily reported today.
Jiang Ling, vice mayor of Dongguan, said that two large manufacturers - a toy maker and a garment factory - had shut down mainly due to their own management faults and disputes between shareholders.
The city's manufacturing and trading business remains in robust development since the Chinese currency rate reform last June, the newspaper said.
Last week, Dongguan-based toy manufacturer Suyi Toy Co Ltd shut its doors, sparking concern that other similar firms might also go under.
Well-known Dongguan-based textile enterprise Dingjia also recently announced bankruptcy, putting more than 2,000 jobs at risk.
Jiang said that the South Korean-invested toy company has been operating as a supplier for big US retailers for more than a decade. But one of its shareholders suddenly removed U$2 million over an in-house dispute, causing the factory closure last Thursday.
Police are currently looking for the boss of the company, who left without paying his workers and suppliers, Xinhua News Agency reported.
Jiang Ling, vice mayor of Dongguan, said that two large manufacturers - a toy maker and a garment factory - had shut down mainly due to their own management faults and disputes between shareholders.
The city's manufacturing and trading business remains in robust development since the Chinese currency rate reform last June, the newspaper said.
Last week, Dongguan-based toy manufacturer Suyi Toy Co Ltd shut its doors, sparking concern that other similar firms might also go under.
Well-known Dongguan-based textile enterprise Dingjia also recently announced bankruptcy, putting more than 2,000 jobs at risk.
Jiang said that the South Korean-invested toy company has been operating as a supplier for big US retailers for more than a decade. But one of its shareholders suddenly removed U$2 million over an in-house dispute, causing the factory closure last Thursday.
Police are currently looking for the boss of the company, who left without paying his workers and suppliers, Xinhua News Agency reported.
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