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Chinese textile industry production surges
Nov '11
The value of textile industrial production in China has surged 29 percent year-on-year to US$ 623 billion during the first nine months of 2011, according to the data released by the Ministry of Industry and Information Technology (MIIT).

Product-wise, yarn production increased by 11.3 percent year-on-year to 20.95 million tons during January-September period. Fabric output rose by 13.3 percent y-o-y to 44.9 billion metres, while apparel production grew by 9.5 percent y-o-y to 18.3 billion pieces.

According to data, profits of major textile companies surged by 36.4 percent y-o-y to 167 billion yuan in the first eight months of the current year.

During the first three quarters of 2011, Chinese textile and garment enterprises exported goods worth US$ 186.1 billion, up 24.3 percent y-o-y.

MIIT has forecasted a comparatively rapid growth in the domestic demand owing to stability in cotton prices. On the exports side, the Ministry does not expect the growth to better last year's performance as there is a slowdown in international demand.

Fibre2fashion News Desk - China

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