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CNTAC suggests textile enterprises to go slow on operations
20
Jun '08
The looming depression in Chinese textile and clothes industry has forced enterprises to refrain from making new investments in the sector.

Statistics for the first four months of this year shows that the total investment made in the sector reached 67 billion yuan, up by 17.66 percent than the same period last year. However, despite a surge in capital inflow, the growth rate of the garment and textile went down by 8.08 percent.

Of the total, investment in the Chinese textile industry was 38.67 billion yuan, up by 13.4 percent and down by 10.3 percent in terms of growth rate. On the other hand, investment in apparel, footwear and accessory industry touched 20.28 billion yuan, up by 19.7 percent nonetheless dipping by 10 percent with regard to growth rate.

Experts from China National Textile and Apparel Council (CNTAC) also strongly believe that it is not advisable to enlarge operations on a large scale during this phase. It would be safer to wait until 2010 as situation is expected to improve then.

Nevertheless, a comparison between areas would reveal that there is still a rapid growth rate of investments in central and western China.

Fibre2fashion News Desk - China

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