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Investor confidence in China's textile sector dips

12
Sep '12
It seems that the investor confidence in China’s textile industry has taken a dip as the growth rate of new investment has slowed down this year.
 
From January to July 2012, China’s textile sector attracted total investment of 416.4 billion Yuan in fixed assets for projects above 5 million Yuan, according to the data of the National Bureau of Statistics.
 
The investment in textile sector grew at 16.9 percent year-on-year, showing a decline of 19.5 percent over the same period of 2011.
 
There were 7945 textile projects that attracted investment during the seven-month period, registering a year-on-year fall of 9.4 percent, a decrease of 6.3 percent compared to the same period last year. 
 
Experts attribute the decline in investments in new projects in the Chinese textile sector to the ongoing slowdown in the industry.
 

Fibre2fashion News Desk - India


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