A deceleration has been noted in the growth rate of China’s textile industry since beginning of the current year.
According to the National Development and Reform Commission, the slowing down in growth rate is mainly due to fall in demand in both domestic and international markets.
Registering a year-on-year rise of 11.81 percent, the total output value of China’s textile industry reached 2.14 trillion yuan during the first five months of the current year, indicating an 18.34 percentage point fall in the growth rate.
The total sales value of the Chinese textile industry for the January-May 2012 period reached 2.09 trillion yuan, showing a year-on-year rise of 11.35 percent, but a fall of 18.5 percentage points in the growth rate.
Cotton yarn and chemical fibre output for the five-month period grew by 14.1 percent and 15.16 percent, respectively, over output achieved during the same period of last year, to 12.28 million tons and 15.51 million tons.
Fibre2fashion News Desk - China