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CNR: Xing’ang Shoes Ceased Operation

China National Radio (CNR) recently reported that Xing’ang Shoes Industry announced that the Taiwanese capital based company will cease operation starting February 10. Xing’ang is located in Dongguan, Guangdong Province and was founded 13 years ago. The Taiwanese owner of the company, Xing’ang International, is one of the top 10 largest shoe makers in the world. It has over 500 shoe stores across Mainland China. For many years, Dongguan Xing’ang has been a main manufacturer for well-known world class brands like Nike, Prada, and Rockport. According to the company, the direct cause of the close-down was the increase in labor costs. In the past three years the company suffered an annual labor increase rate of 15 percent. Last year, the company saw a profit decline of 50 percent. The company said that its manufacturing capacity is being moved to Southeast Asian countries. 
Source: China National Radio, January 12, 2016