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Textile sector to face high uncertainties in 2008
30
Jan '08
After the rapid growth last year, China's textile enterprises are facing increased external pressures in 2008, such as rising prices of resources, international trade frictions and RMB appreciation.

"In 2008, China's textile industry is facing a relatively grim situation," China Textile Industry Association Vice President, Xu Kunyuan, said at Round-table Forum 2008 organized by China Textile Association on January 25.

But Xu Kunyuan pointed out that while China's textile industry grew rapidly in 2007, it showed obvious differentiation. Nearly 70 percent of enterprises shared only 10 percent of industry-wide profits, with average profit margin only slightly higher than 0.4 percent.

He said that the survival of 2/3 textile enterprises in 2008 would be challenged due to increased external pressures.

Some participating experts and scholars also believed that having experienced rapid growth in 2007, many hidden problems in textile industry would float out onto the surface this year.

Fibre2fashion, News Desk - China

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