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Chemical fibre & machinery sectors record excellent growth
06
Apr '10
According to data from the Statistics Center of China Textile Industry Association, 53,300 Chinese major textile enterprises accumulatively realized an industrial output value of 567.32 billion Yuan from January to February this year, up by 27.05 percent year on year, which is an indicator that situation is gradually getting better.

The chemical fiber industry and the textile machinery industry realized the most significant growth in January-February. The chemical fiber industry achieved a 49.21 percent increase in industrial output value, while the textile machinery sector completed a growth rate of 71.04 percent in industrial output value.

The main factors restricting the growth of industries include, rising employment costs, appreciation pressure on RMB exchange rate, costs of raw materials are increasing faster and the domestic as well as foreign demand has not yet picked pace. When considering wage increases, it has been learnt that in some coastal areas, wages have gone up by 30 percent.

Customs figures reveal that Chinese textile and apparel exports totaled US $28.242 billion in the first two months of this year, up 28.98 percent year on year. China imported 221,000 tons cotton in February, up 137.6 percent year on year. As production and export situation of domestic textile enterprises has improved, it has boosted demand for cotton.

Fibre2fashion News Desk - India

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