Wuhan's 9 garment companies organize a bank application**

The prices of cotton yarns and other fabrics are rising, and garment companies are under tremendous pressure. Wuhan's nine apparel companies Baotuan applied to the bank for a total amount of RMB 100 million.

Since the second half of this year, fabric prices have recovered slightly and have remained at a high level. Statistics at the end of last month showed that the price of cotton that has been out of control has dropped from nearly 32,000 yuan/ton at the highest level to 26,000 yuan/ton. However, it still rose about 60% year-on-year.

Cotton accounts for about 40% of the cost of clothing. As the price of cotton soars, cost pressures cause many clothing companies to agonize. Relevant person in charge of the local well-known company Taihe apparel introduced that the increase in cotton fabrics and the increase in labor costs, it is estimated that the company's overall cost of winter clothing rose 15%, the company has suppressed some of the product output. In Wenzhou and other places, even the news that many garment manufacturers buy their own land to plant cotton.

The nine companies applying for bank ** were members of the Hubei Provincial Garment Merchants Association. They have successfully applied for success because of their good strength. According to the agreement, the bank’s clothing association in Hubei Province will provide a total of about 100 million yuan in credit to nine companies.

According to industry sources, local clothing companies have applied for such a huge amount of credits at one time, which is still rare in the garment industry in our province.