Investment drops in Wenzhou footwear sector
24/02/2011
The province of Wenzhou in east China has a footwear industry that creates $10.7 billion of annual output value and accounts for one third of local GDP, according to the China Leather Industry Association (CLIA).
However many footwear manufacturers in Wenzhou have decided to relocate elsewhere or quit as production and land costs increase, according to a report released recently by the Wenzhou municipal government.