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Wenchuan earthquake unsuccessful in quivering textile sector
14 May '08
1 min read
Wenchuan County in Sinchuan Province, China witnessed a M7.6 Richter scale earthquake at 14.28 minutes, on May 12, 2008.
Although, this devastating calamity incurred huge loss of life and property, experts believe that it will only have a limited impact on China's economy.
Heavy snowfall early this year led to hike in food prices and inflation and this earthquake has brought similar worries to investors.
However, polyester factories in Wenchuan County like Sichuan Polyester, Huvis Sichuan and Sichuan Yibin were not affected severely by the earthquake.
On the other hand, textile enterprise Yida in Foshan immediately shut down production for about half an hour and evacuated some 4,000 employees.
Since, the epicenter was located in remote mountainous areas where industrial and agricultural production is in small scale, China's macroeconomic industry is unlikely to suffer serious consequences.
Although, this devastating calamity incurred huge loss of life and property, experts believe that it will only have a limited impact on China's economy.
Heavy snowfall early this year led to hike in food prices and inflation and this earthquake has brought similar worries to investors.
However, polyester factories in Wenchuan County like Sichuan Polyester, Huvis Sichuan and Sichuan Yibin were not affected severely by the earthquake.
On the other hand, textile enterprise Yida in Foshan immediately shut down production for about half an hour and evacuated some 4,000 employees.
Since, the epicenter was located in remote mountainous areas where industrial and agricultural production is in small scale, China's macroeconomic industry is unlikely to suffer serious consequences.
Fibre2fashion News Desk - China
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