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Chinese textile industry predicts slowdown in 2012

28
May '12
At a recent meeting of the Chinese textile sector stakeholders, it was concluded that, production and exports have experienced negative growth in recent months.

Data revealed that China's textile industry was on a slowing trend between January and April.

Stakeholders also concluded that the industry continues to face high external risks in the first half of 2012. Risk control and response will have to be a top priority.

The industry experienced slowdown in investment and investments in new projects saw a decrease of 5.6 percent year on year.

In the period, textile and garment exports registered US $68.81 billion, an increase of only 0.5 percent year on year.

Saving grace has come from growth in the domestic market. In the first four months of 2012, retail sales of big and major clothing firms rose 15.6 percent year on year.

Domestic sales of big and major textile enterprises too increased by 14.8 percent year on year.

On trends in 2012, the group concluded by saying that, in a situation of poor external demand, the space for companies to resolve a variety of cost and risk factors will be smaller.

Fibre2fashion News Desk - China


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