China's textile and apparel industry has witnessed a steady growth in recent years, but now it appears that there might be a slowdown.
During the first three quarters of the current year, China's textile industry achieved more than 30 percent annual growth in output. The sales value of large textile enterprises also saw a rise of 29 percent year-on-year.
Similarly, China's textile and apparel exports registered US$ 186.19 billion from January to September, up 24 percent year-on-year. However, Chinese apparel export prices were affected due to rising costs and structural adjustment of exported products.
Some of the reasons that may lead to a slowdown in China's textile industry are the bleak global textile market, volatile prices of textile materials, appreciation of the Renminbi, power crisis in China, and the increasing cost of labour.
Exports play a dominant role in the growth of Chinese textile industry. China's export of textile and garments is affected owing to the worsening debt crisis and budget deficit in developed countries.
It appears that all these reasons will together contribute to a slowdown in Chinese textile and apparel industry in the coming months.
Fibre2fashion News Desk - China
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