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Slowdown in growth of revenues from textile & garment sector
13
Oct '08
From January to August this year, large-scale textile enterprises realized total revenues of Yuan 2.09 trillion and total profits of Yuan 72.66 billion, representing a year-on-year growth of 15.34 percent and 5.34 percent, respectively, their lowest growth levels since 2002.

Amongst them, apparel industry realized revenues of Yuan 523.2 billion with total profits of 21.12 billion, indicating a year-on-year growth of 18.4 percent and 11.03 percent, respectively.

Textile industry achieved revenue of Yuan 1.31 trillion and total profits of Yuan 46.83 billion, representing a year-on-year growth of 16.47 percent and 13.7 percent, respectively.

Revenues from the chemical fibre industry touched Yuan 265 billion with total profits amounting to Yuan 4.713 billion, up 4.93 percent in revenue, but a year-on-year decline of 46.2 percent in total profits.

Future industrial growth is expected to decline due to slowdown in domestic and export sales.

Fibre2fashion News Desk - China

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