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Large-scale Chinese home textile firms fare well in 2013
30
Dec '13
Large-scale home textile firms in China performed well this year. From January to September 2013, the 1788 large-scale firms realized main business income of 187.34 billion yuan, showing an increase of 7.6 percent year-on-year, according to the National Bureau of Statistics.
 
These firms together earned 46.94 billion yuan from exports, showing a year-on-year growth of 7.49 percent. They earned a total profit of 9.91 billion yuan, registering a rise of 11.5 percent year-on-year, showing a steady growth.
 
During the first three quarters, the 1788 large-scale home textile firms invested 35.1 billion yuan, which is a rise of 16.7 percent, showing a good growth in investment in both new projects and extension of existing units.
 
According to Customs statistics, the cumulative total exports of home textiles from China stood at US$ 29 billion from January to September 2013, showing an increase of 8.1 percent year-on-year. Of this, the US market accounted for US$ 6.75 billion, up 5.3 percent y-o-y, while the EU contributed US$ 4.46 billion, up 2.3 percent y-o-y.
 
However, China’s home textile exports to Japan declined by 5.3 percent y-o-y to US$ 2.92 billion. The rest of the world accounted for US$ 14.86 billion, up 14.5 percent y-o-y.
 
China’s home textiles’ exports to the emerging markets were significantly higher than the average level of exports, showing the growing trend of export market diversification. China’s home textiles’ exports to Bangladesh, Asean, Pakistan and Russia grew at 42.1 percent y-o-y, 34.2 percent, 29.8 percent, and 27.7 percent, respectively.
 
In the Chinese domestic market, towels showed good growth momentum, while bedding items showed sluggish growth during the nine-month period, according to the statistics of Textile Association.
 
In recent years, extensive media publicity has been carried out guiding consumers to adopt a healthy lifestyle, which has resulted in stable growth of towel sales in the domestic market.
 

Fibre2fashion News Desk - India

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