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Chinese textile machinery sector registers growth
25
Nov '09
In the first three quarters of this year, total industrial output value of China's textile machinery industry achieved 38.80 billion Yuan, an increase of 2.21 percent year on year and sales revenue touched 38.742 billion Yuan, an increase of 1.53 percent year on year.

The total profits realized by the textile machinery sector reached 1.385 billion Yuan, down 147 million Yuan and exports in the period under review completed US $875 million, an increase of 31.42 percent year on year.

Due to the financial crisis, which emerged in the previous year, production and sales of textile machinery industry experienced a negative growth, but the situation started to improve in the second half of 2009 and has displayed a recovery trend.

Entering into 2009, market demand of textile machinery continued to focus on high-end equipment which has led to expansion in demand for chemical fiber machinery, computerized flat knitting machine, rapier loom, warp knitting machine and some other categories of products.

Market demand for printing and dyeing equipment with energy-saving and emission reducing functionalities has also gradually strengthened and demand for non-woven equipment too has achieved a faster growth.

Vice President of China Textile Industry Association and Chairman of the Association of China Textile Machinery Equipment Industry, Gao Yong said, “Future development of China's textile industry will mainly reflect two aspects, one is the renovation of traditional textiles and industrial upgrading, second is to develop industrial textiles with more efforts and textile machinery industry should focus on these two areas in the future to expand efforts in product development”.

In the nine years preceding 2008, China's textile machinery industry almost witnessed a double-digit growth every year, but the financial crisis in 2008 dealt a heavy blow. The industry was able to sell 6.46 million spinning spindles, down 33 percent from the previous year.

Fibre2fashion News Desk

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