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China's textile industry bids farewell to low-cost era
04
Jan '11
The output value of China's big textile enterprises will exceed 4 trillion Yuan in 2010, exports are expected to surpass US $200 billion, profits are expected to exceed 200 billion Yuan and profit growth is expected to reach 40 percent, according to preliminary estimates.

In face of these unprecedented results, the industry does not show any ecstasy, because there are a lot of real worries behind this high growth.

Industry sources say that the main constraint of energy saving, growth in labor costs and abnormal price fluctuations of cotton, chemical fiber and other raw materials in 2010, reveal that, the rise in raw materials and labor cost is a foregone conclusion.

China's textile industry has bid farewell to the low-cost era. China's textile industry must seize the advantage of changing consumer tastes and speed up industrial upgrading in order to climb up the value chain and churn out high value-added textile products.

Fibre2fashion News Desk - China

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