Home / Knowledge / News / Textiles / Chinese textile sector beats all odds, keeps growth momentum
Chinese textile sector beats all odds, keeps growth momentum
25
Jul '11
In spite of facing several challenges, the production of China's textile industry has registered a year-on-year growth of 30 percent to touch 2.39 trillion Yuan or US$ 370.7 billion during the initial six months of the current year, according to the Ministry of Industry and Information Technology.

Output of the value-added industry grew by 9.9 percent over last year's output, which was 2.3 percent below corresponding period's rate of growth in 2009. Textile exports too grew by 28.8 percent to US$ 45.9 billion during the first half of the year.

During the January-May period, the overall earnings of the textile companies hiked to 97.7 billion Yuan, registering a year-on-year rise of 42.9 percent.

A number of challenges confronted the Chinese domestic textile industry during the first six-month period of 2011, which included the high variations in cotton prices, rise in production cost following an increase in labour cost, hike in interest rates and appreciation in the value of Yuan.

Further, some of the small and medium textile firms even suffered financial crunch owing to the tightening of the monetary policy by the Government.

The Ministry expects the output to plummet in the second part of the year due to many roadblocks. While high inflation in the country would hold back local consumption of garments and textiles, elevated cost of raw inputs and difficult credit would raise the pressure on domestic firms.

The Ministry also expects the overseas demand to fall due to regional political problems, Euro debt crisis and the US's huge fiscal deficit.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search