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Chemical fibre sector eliminates huge backward capacity
24
Feb '10
As per details emanating from an economic forum of the textile industry recently held by China Textile Industry Association, China's chemical fiber industry totally eliminated 1.37 million tons of backward production capacity in 2009.

In 2009, China's chemical fiber industry sped up structural adjustment, positively changed its growth mode, and promoted the industry's technological advances and equipment upgrades under powerful market control.

At the same time, new equipment, new technology, low energy consumption, capacity-intensive industry also created conditions to help the industry get out of the woods and lows.

The chemical fiber industry overcame the unfavorable factors brought about by the financial crisis and went out of the lows in 2009. The chemical fiber industry realized an industrial output value of 354.37 billion Yuan from January to November.

Its main business income registered 344.73 billion Yuan, an increase of 2.37 percent year on year, the growth rate of industrial added value fetched 10.6 percent and the industry achieved economic benefits significantly in 2009.

Fibre2fashion News Desk - China

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