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Industry News & Markets |
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China
Wood and Furniture Market Reports |
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| Furniture in Shanghai Since the improvement of Pudong port, Shanghai's economy has seen double digit growth. At present, the municipality has around 3,300 high rise apartment blocks, accounting for over 40% of the country's total high rise apartmentss (8,000). It is estimated that more than 230,000 families move to new apartments and houses each year. In addition the municipality builds and renovates around 15 million square metres of housing each year. The rapid development of economy, the constant improvement in living standards and the increasingly housing demand is creating unparalleled business opportunity for Shanghai's furniture industry. In 2000, furniture demands in the urban area amounted to 10 billion yuan with an average year-on-year growth of over 20%. By 2001 the number of furniture manufacturers had grown to 2,500 from the original 200 plus. Of these over 500 are foreign funded enterprises with a total investment of about US$500 million. Foreign investors are coming form all over the world, but enterprises from Hong Kong and Taiwan P.o.C account for some 60% of all foreign investment in the furniture manufacturing sector. In addition, a number of top furniture manufacturers such as IKEA of Sweden and big companies from the United States and Italy have moved in to compete in the Shanghai market. In addition to the well known companies there are companies and enterprise from over 20 countries including Germany, France, Australia, Japan, Korea, Singapore, Malaysia and Thailand. The mode of operation of these companies varies. Some of them establish headquarters in Shanghai with large-scale exhibition halls; some of them establish assembling plants for components supplied from their home countries or from off-shore sources; some of them act as agents, undertaking wholesale business in China with Shanghai as the centre; and some of them establish retail outlets for direct sales. Shanghai furniture markets are increasingly approaching an international standard and
the market is evolving into clearly defined sectors five of which can be identified
namely: office building furniture(fitted and bathroom furniture), accounting for 15%;
hotel furniture, 10%; non-fitted office furniture, 5%; home furniture, 50%; and
export-oriented furniture, 20%. It is reported from customs that the total value of furniture exported from Guangdong in January of this year amounted to US$257 million, up by 63% over the same month last year. The value of furniture exported to the United States amounted to US$130 million, over 50% of total export value. The cities of Shenzhen and Dongguan are the top furniture export areas in Guangdong Province with exports of US$96 million and US$76 million respectively, accounting for 37.4% and 29.6% of the total value of the province's furniture export. Guangdong's furniture is exported mainly to the United States, Japan, UK, Hong Kong and Taiwan P.o.C. Shenzhen International Furniture Expo Over the past 6 years, Shenzhen hosted 9 international furniture expos,and organisers claim around 80 million visitor days have been recorded. According to reports a total of 53 large-scale state and regional purchasing groups and thousands of national and international business men have participated in the expos. The total value of transactions concluded in all expos held so far amounts to around 10 billion yuan with export orders exceeding US$ 600 million The tenth Shenzhen International Furniture Expo, March 15 - 19, which has just
concluded involved over 2,400 exhibition units and more than 250 businesses participated,
involving over 70,000 professionals. Contracts concluded were said to be valued at 2.1
billion yuan, a new high. For information on China's forestry try:
Wholesale Prices, Indonesian and Malaysian
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