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Chinese textile profits up 7.5 per cent

From January to August, the prime operating revenue of the textile garment and accessories sector in China rose six per cent year-on-year.

Total profits saw a 7.5 per cent growth year-on-year. The prime operating revenue of the leather, fur, down and shoe-making sector was up 6.7 per cent year-on-year and total profits were up six per cent. China’s textile industry has maintained steady growth despite facing challenges and difficulties such as the cotton price gap at home and abroad, the impact of imported cotton yarn, the ups and downs of cotton prices, and increasing labor and power costs.

The industry has shifted from high speed growth to medium speed growth and entered into a new phase of deepening restructuring and accelerating transformation and upgrading.

There has been a 6.34 per cent decline of garment exports in the past eight months. In the same period the output of chemical fibers increased 10.24 per cent year-on-year with the output value rising 11.4 per cent. The textile industry’s fixed asset investment grew 15.7 per cent year-on-year.

Benefiting from the sharp price drop of bulk commodities, especially crude oil price, in the international market, for the chemical fiber sector, the cost of raw materials declined faster than the prices of chemical fibers.

 
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