China's textile sector shows strong performance in Q1 2021

The combiner operating revenue of large-scale textile firms expanded by 26.9 per cent year-on-year to about 1.05 trillion yuan during the three-month period, the MIIT data showed. These firms earned 43.4 billion yuan worth of profits, registering a surge of 93 per cent over same period of previous year, when the country saw lockdown periods due to the spread of COVID-19 pandemic.

Meanwhile, the exports of garments from China in January-March 2021 totalled $33.3 billion, an increase of 47.7 per cent year-on-year. Online retail sales of clothing products too grew by 39.6 per cent during the period under review.

Fibre2Fashion News Desk (RKS)