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Textile machinery sector sales still sluggish
31
Aug '09
After, mid-2008 China's textile machinery industry received its first negative growth in industrial output value and sales revenue in nearly 10 years and the downward trend continued in to the first half of 2009.

According to comprehensive business statistics on 1,020 state-run enterprises, the industry completed an industry-wide output value of 21.867 billion Yuan in the first half of 2009, down 6.40 percent year-on-year.

Other economic indicators associated with the textile machinery sector have also witnessed a decline. The state launched “restructuring and revitalization plan of the textile industry” and tariff adjustment on textiles at the beginning of the year.

These measures have increased profitability of textile exports to a certain extent and enhanced confidence in development of the textile industry, but policy effects will be visualized later.

Under the influence of global financial crisis and other negative factors, market demand for textile machinery is still sluggish, which greatly impacts production and profitability of textile machinery manufacturing enterprises.

Fibre2fashion New Desk - China

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