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Textile machinery sector marks sluggish trend
26
Jul '08
According to the China Textile Machinery Association statistics, in the first five months of this year, the industry has recorded a weakening trend.

While total output value of textile machinery industry stood at 21.895 billion yuan, down 0.61 percent than the same period of last year, total profit was marked at 909 million yuan, representing a fall of 18.96 percent.

Reportedly, over 198 enterprises incurred loss, with average loss amount touching about 232 million yuan, up 159.48 percent.

Among all the provinces, Jiangsu province topped the export of textile machines, earning around 6.932 billion yuan, and accounting from 32.85 percent of the total income of Chinese textile machines industry. Export value reached 743 million yuan, accounting for nearly 30 percent of industry's income.

Other major export areas of the industry include Guangdong, and Zhejiang province as well as Shanghai and Beijing city, together accounting for 80.33 percent of the total export of Chinese textile machines industry.

Fibre2fashion News Desk - China

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