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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
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Major Chinese apparel companies post 4% profit growth in Jan-Jul 2022
11 Sep '22
1 min read
Pic: Shutterstock
Profits of major Chinese apparel firms witnessed steady growth during the first seven months this year, increasing by 4 per cent from a year ago, according to official data. The country's 13,067 major apparel companies raked in profits of 37 billion yuan ($5.35 billion) during the period, according to the ministry of industry and information technology.
Exports of garments and accessories increased by 12 per cent to $80.2 billion dollars during the period, the ministry said.
Revenues of the companies rose by 3.9 per cent year on year to 815.9 billion yuan during the period, official Chinese media reported.
Fibre2Fashion News Desk (DS)
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