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Competitiveness of the textile sector on the rise
Jun '11
Vice-President of China Textile Industry Association, Sun Rui Zhe said yesterday, China's textile enterprises above annual revenue of 20 million Yuan achieved 55.4 billion Yuan in profits in the first quarter of this year, up 53.57 percent year on year.

Overall competitiveness of the textile industry is still on the rise this year, exports and domestic sales are both good, growth rate is expected to be more stable in the second half of this year.

But he also pointed out that the textile industry will inevitably have to face high production costs, especially the SMEs will have to bear relatively large pressures.

Customs statistics showed that China's total textile and apparel exports registered US $68.5 billion from January to April 2011, an increase of 27.4 percent year on year.

The analysis of export prices in the first quarter showed that average price of yarn exports rose by 27 percent, average price of fabric exports grew over 20 percent and export price of apparels increased 20 percent.

China is relatively short in terms of resources, as it has to import a quarter of its cotton consumption from abroad and now China is looking for alternative sources of fiber and it will be an important goal to solve resource balance of textile and garment industry in the "Twelfth Five Year Plan", said Sun Rui Zhe.

Fibre2fashion News Desk - China

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