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Textile GDP shows remarkable growth in 2007
01
Jan '08
The latest data released by statistics center of China Textile Industry Association showed that 2007 economy operation of China's textile industry has achieved healthy growth.

According to revised report, above-scale enterprises in textile industry are expected to complete a total industrial output value of 3.05 trillion yuan, up 21.9 percent year on year.

The data showed that above-scale enterprises of the whole textile industry are expected to realize a total profit of 115.2 billion yuan, up 32 percent from the previous year. Import volume will reach 18.9 billion yuan, an increase of 4.4 percent on year.

Experts said that China's textile industry has shown steady growing trend in production, sales, exports and efficiency starting this year, however, some resistance in operation could not be evaded.

Firstly, the price rise in international crude oil has increased the production cost pressure of chemical fiber enterprises.

Secondly, the implementation of new slide-tax policy has indirectly enhanced production cost of cotton spinning enterprises.

Thirdly, continued rise in wool price has been the biggest problem wool textile industry encounters this year.

Moreover, coal, oil, electricity sectors have maintained steadily growing trend, especially the rapid growing trend of labor cost has become the main cost pressure of textile enterprises. At the same time, continued appreciation of RMB has been the biggest problem encountered by textile export enterprises.

In the context of this background, industrial experts expect that the basic profitability of China's textile industry will remain stable in 2008. It will probably maintain the current level and unlikely to show a marked decline.

Fibre2fashion News Desk - China

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