In the first five months of this year, around 880 textile-equipment manufacturers, together, touched the sales income of 21.258 billion yuan, up 27.07 percent than the same period, accounting a total profit of 1.18 billion yuan, showing a rise of 57.89 percent.
Of the whole lot of textile machinery, around 372 sewing machine manufacturers earned about 10.871 billion yuan during this period, showing a growth 17.69 percent than the same period of last year, accounting a total earning of 705 million yuan.
Sewing machine manufacturers in China mainly produce home sewing machines. Competition in this sector is severe in low and middle grade market. Observing the opportunity in the upper-grade market, more and more producers have started focusing on this area and it is estimated that the profit will go up quickly.
Experts analyzed the reason behind this growth. Firstly, according to the new policy, textile and clothing enterprises have upgraded their equipments to be at par with the prevailing international trade standards. Secondly, most of the enterprises shifted their manufacturing base from the east to the central and west China and the overseas, so as to lower their production cost.
In the first quarter of this year, the machinery import of China was US $1.13 billion, a boost of 21.6 percent than the same period of last year, whereas, exports were $1.64 billion, 61 percent rise can be seen.
Fibre2fashion News Desk - China
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
