Jiangsu textile sector enters a new 'Index era'

19 Sep '13

2 min read

The China Eastern Silk Market, the Chinese textile materials trading centre and the Stonebridge International Textile City have for the first time jointly prepared ‘China Shengze silk fibre index’, ‘Chinese textile materials price index’, and ‘Chinese textile index’ for the Jiangsu province.

At a meeting, Xie Ming of Jiangsu Province Textile Industry Association said this is the first index in the province, issued jointly by the three participating published indices.

At the meeting, each of the three indices released units for the first half of 2013 as a base index operation, combined with the prevailing textile environment, a detailed analysis of the indicators of the trend in order to predict industry trends and to provide a scientific and rational basis to facilitate the government, industry and business to more objectively and accurately grasp the market situation.

From January to June 2013, Jiangsu textile industrial output value was 634.67 billion yuan, showing an increase of 11.6 percent year-on-year. The total profit of textile enterprises rose by 12.72 percent year-on-year to 26.71 billion yuan. The total textile sector exports from Jiangsu grew 6.66 percent year-on-year to US$ 20.42 billion. This data reflects the same trend as shown by the indices.

Xie Ming said the new indices are significant as they are composed of textile materials like silk, chemical fibre and other textiles, the basic apparel trend and the trend of the market, which helps in making a judgment.

The indices would serve as a direction indicator and a barometer of economic operation, and will analyze and predict a positive impact on the economy, Xie Ming said.

Fibre2fashion News Desk - India

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