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Chinese garment enterprises revenue up in Jan-Aug '19
14 Oct '19
1 min read
Pic: Shutterstock
Large-scale garment enterprises in China registered an increase in their revenue in the first eight months of 2019, according to the official data. However, their output, export, and total profit showed a decline. In China, large-scale garment enterprises are those with annual business revenue of more than 20 million yuan (about $2.82 million).
The 13,660 large-scale garment firms in China together earned revenue of 1.073 trillion yuan ($152 billion) during the January-August 2019 period, up 2.1 per cent year-on-year, according to the Chinese ministry of industry and information technology (MIIT).
However, the total profit of these enterprises declined 1.1 per cent year-on-year, whereas their output also fell 1.7 per cent.
In contrast, online sales posted a robust growth of 19.7 per cent during the period under review.
Meanwhile, China total apparel and accessories export dropped 4 per cent in the first eight months of this year, MIIT data showed.
Fibre2Fashion News Desk (RKS)
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