Changshu has been vigorously expanding its regional market, actively cultivating its market system, and constantly improving its market functions, in an effort to upgrade key market levels and scales. As a result, the configuration of its markets has transformed itself from quantitative expansion to qualitative efficacy, with its market construction turning, ever, toward high-end, large-scale, professional, specialty orientations.
In the recent round of key market construction initiatives, Changshu Clothing City takes a decidedly pivotal position, with its turnover accounting for more than 80% of total figure reported for the city's key market turnover. In 2012, the Clothing City garnished 100.2 billion yuan, becoming the first 100 billion’s worthprofessional textile and apparel market nationwide. What followed was an average 8% annual growth rate, coming, in 2016, to 138 billion yuan in market turnover.
At present, the City has formed, in addition to well-focused production factor markets, a cluster of key markets, including Changshu Clothing City, Changshu Building & Decoration Materials Market, Changshu Automobile Market, and Changshu Agricultural & Sideline Produce Trading City. Equally significant, fast taking into shape has been a regional market system that features, among others, diversified investment, diversification in tradable goods, multi-polarization in market level, rationality in structuring, and all-rounded openness, all on the basis of a unified national market.
A rapid developing market has duly boosted commercial circulation, catalyzing a further regional economic growth. In effect, it has played an irreplaceable role in attracting both talents and funds, promoting logistics, and helping employment.In addition to Changshu Clothing City, other types of markets, based on regional economic characteristics, have also enjoyed a considerable development. Changshu Automobile Market, for one, is host already to over 60 powerful dealers as well as 40 plus car deco &vehicle maintenance firms.Changshu Agricultural & Sideline Produce Trading City, for another, is now a most active retail center for farm produce and other agricultural goods coming from more than 10 provinces across China. A rough 80% of the City’s vegetable and aquatic product needs demanded daily by its one million citizens are satisfied here.
