China's FAI in textiles slows down in first seven months

BEIJING, Aug. 31 (Xinhua) The fixed asset investment (FAI) in China's textile and apparel industry kept slowing down in the past seven months. brThose projects with a fixed asset investment size of above 5 million yuan each have realized an accumulative 153.410- billion- yuan investment in this period, up 13.14 per cent year on year, with the growth rate 12.60 per centage points lower than 2007. The new projects going into production totaled 3,796, down 10.47 per cent from the year- ago period, according to data released by China National Textile & Apparel Council (CNTAC). brAccording to WebTextile.com, a professional textile website in China, the manufacturers earn only 10 per cent of the entire profit, while the other 90 per cent goes to brand owners, wholesalers, distributors and retailers. This is part of the reason why the fixed asset investment growth kept declining. brThe textile sector 's FAI rose 6.81 per cent on year to 86.501 billion yuan, the clothes, shoes and hats sector climbed 20.03 per cent to 47.229 billion yuan, the chemical fiber sector achieved a growth of 31.24 per cent to 16.288 billion yuan, and the equipment manufacturing sector increased 18.86 per cent to 3.392 billion yuan. brShangdong, Jiangsu and Zhejiang are the top three provinces leading FAI in textiles in China, taking about 45.43 per cent of the country's total. (US$1=6.84 YUAN)