Influenced by the subprime crisis in America and appreciation of RMB in China, furniture exports to America in Jiaxing city declined obviously, with the growth rate of one digit number. According to the statistics from Custom, in the first seven months of 2008, furniture exports in Jiaxing city to America amounted about US2.0 billion, up 10.9% over the previous year.
The subprime crisis led the low demand for furniture in America. This situation caused the drop of furniture exports in Jiaxing, and more and more companies try to expand domestic market or European market to boost the distribution.