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Chinese textile machinery firms' income grows in Q1
May '13
The income of Chinese textile machinery enterprises improved in January to March 2013, according to the data from the National Bureau of Statistics.
During the first quarter, Chinese textile machinery industry realized main business income of 24.605 billion yuan, showing an increase of 7.54 percent year-on-year. However, their total profits decreased by 59.06 million yuan to 1.43 billion yuan.
Among the loss making enterprises, textile machinery firms suffered loss of 225 million yuan, which is an increase of 107 million yuan. The loss rate of these companies increased by 1.82 percent over the lass made during the same period of last year.
From January-March 2013, textile machinery exports from China rose slightly, while imports declined narrowed. The operation of new projects increased due to a significant increase in fixed asset investment.

Fibre2fashion News Desk - China

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