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China's textile machinery business income increases by 14.57%

In the first quarter of 2019, the Chinese textile machinery industry earned CNY 22.98 billion of prime business income, registering 14.57 per cent year-on-year increase. The segment’s assets increased by 8.56 percent year-on-year to CNY 102.5 billion from 2018.

From January to March 2019, the total profit of enterprises above designated size in the textile machinery industry reached CNY 1.4 billion, up 13.01 per cent year-on-year; total loss of loss-suffering enterprises was CNY 145 million, down 24.05 per cent year-on-year; the scale of losses was 20.35 per cent in the first quarter of 2019, the operating profit margin of the textile machinery industry was 6.10 per cent, seeing a decrease of 0.10 percentage points over the same period of last year.

According to the General Administration of the Customs, China's import and export of textile machinery totaled US$ 1.72 billion in the first quarter of 2019, declining by 1.50 per cent year-on-year. The export of this machinery increased by 1.58 per cent to US$ 902 million, while its imports declined by 4.69 per cent to US$ 819 million.

In the first three months of 2019, China imported US$ 819 million worth of textile machinery from 58 countries and regions, declining by 4.69 per cent year-on-year. The top five suppliers of China's imported textile machinery are Japan, Germany, Italy, Belgium and Taiwan, with a trade volume of US$ 698 million.