China's textile industry maintains steady growth
Friday, 14 September 2007
BEIJING, Sept 13 (CEIS): China's textile industry will maintain sustained growth amid structural adjustment in the coming decade, according to the latest survey report of China Textile Economy Research Centre.
The industry reported faster development in production and better operational quality and economic return despite the appreciation of Renminbi, the reduction of export rebates, the tightening of monetary policy and the rise in the costs of raw materials and labor force as well as the expiration of the agreement on Sino-European textiles at the end of this year.
China is one of the world's largest textile producers and exporters.
Statistics show that the net value of textile enterprises' fixed assets in the first five months of this year went up 12.65 per cent year on year, sales value up 24.3 per cent, and profits up 43.85 per cent to 39.193 billion yuan.
The industry reported faster development in production and better operational quality and economic return despite the appreciation of Renminbi, the reduction of export rebates, the tightening of monetary policy and the rise in the costs of raw materials and labor force as well as the expiration of the agreement on Sino-European textiles at the end of this year.
China is one of the world's largest textile producers and exporters.
Statistics show that the net value of textile enterprises' fixed assets in the first five months of this year went up 12.65 per cent year on year, sales value up 24.3 per cent, and profits up 43.85 per cent to 39.193 billion yuan.