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China's textile industry profit growth slows in Q1
17
May '14
The profit growth of textile industry in China slowed down a little bit in the first quarter of the current year, although the profits of large-scale textile enterprises continued to expand, according to the China Textile Industry Association.
 
In the first quarter, the performance of China’s textile industry was generally stable and operating efficiency improved compared to the same period last year. Growth was seen in industrial production, exports, domestic sales, investments as well as profits, but there are still many risks in the future.
 
In the first three months, China’s textile industry saw a total increase in profit of about one percent year-on-year, a slowdown of nearly 5 percent compared to 2013 full year profit growth rate.
 
During the same period, Chinese textile industry’s investment in fixed assets grew by around 13 percent year-on-year, which was 3.65 percent lower than the investment growth rate of 16.65 percent registered a year earlier. In terms of regional investment structure, the growth rate of investment in the eastern part of China was significantly higher than the central and western regions.
 
Industry experts point out that the risk remains in the future as the growth rate of production, domestic demand, exports and investment has slowed down on the one hand, while international competition has intensified, which can be seen from the fact that China’s share in the US and European markets has declined.
 

Fibre2fashion News Desk - India

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