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'Transition pains extremely obvious' - Mr Yuzhou, CTIA
26
Dec '08
China Summit Forum of Garment Industry 2008 was held in early December in Wuxi City, Jiangsu Province. At the forum, Chairman of China Textile Industry Association Mr. Du Yuzhou said, “In the face of the financial tsunami sweeping through the world, China's textile and garment industry must urgently accelerate scientific and technological innovation, if the industry wants to break out of the crisis.”

He added by saying, “Since the beginning of the new century, China's textile industry has maintained rapid development. From 2002 to 2007, total industrial output value of enterprises increased 1.78 times, profits grew 2.7 times, employment grew 41 percent, exports rose 1.79 times and trade surplus of the whole industry increased 2.22 times. Trade surplus of textile industry is the largest among all industries, which is the main reason; the government should pay great importance to textile industry.”

He further said with a tinge of concern that, “99.4 percent of the enterprises in the textile industry are regarded as SMEs which is a serious imbalance. Since the beginning of 2008, most of the small and medium enterprises have faced great difficulties due to insufficient preparation, being impacted by international economic environment, domestic inflation, rising labor costs and other restrictive factors.

He apprehensively ended by saying that, “2008 has been the most difficult year for the textile industry in the new century and currently the textile industry as a whole is in the crucial period of industrial upgrading, implementing scientific concept of development, coupled with an external financial crisis with the transition pains extremely obvious.”

According to the China Textile Industry Council, despite August average profit margin of the industry improving over the same period last year, there are still serious structural problems in the overall industry structure. One-third of the enterprises employ 32 percent of the workers in the industry and their profits account for 89.2 percent of the total profits. More than 7500 enterprises are loss-making enterprises with cumulative losses amounting to Yuan 11.6 billion.

According to relevant statistics, per capita value of the textile industry is 9800 Yuan of which industrial value created by one-third of the industry is 24,800 Yuan per capita while industrial value created by the rest two-thirds of the industry is only 1600 Yuan per capita.

Fibre2fashion News Desk - China

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