Textile industry benefits most after entry to WTO

12 Dec '06

2 min read

Textile industry is one of the most benefited industries after China's accession to WTO.

According to realistic data, China's textile exports in 2001 was US $53.44 billion, but in January-October 2006 alone, China's import and export value of textiles and clothing reached US $135.031 billion. Meanwhile textile industry also realized a trade surplus of $107.557 billion.

It should be noted that behind these figures there would be followed by some problems including trade frictions, RMB appreciation, lowered export rebate rate, etc. Obviously, after the accession to WTO for five years, China seems to be facing a more complicated trade situation in post-quota ear.

However, it does not allow the textile industry to review the ups and downs in the five years. Now they have to worry about the trade situation for the second half of next year.

In any case, the textile industry, which has already blended into the world economy, is still facing some troubles.

It is reported that in the ten years before China's entry into the WTO, China encountered eight anti-dumping cases, but after the accession to WTO, the annual anti-dumpling cases averaged at 6-8.

For textile enterprises, in addition to coping with the complexity of foreign trade situation, their own development also faces many problems.

Being confronted with frequent trade frictions, China's textile enterprises have accumulated a lot of experience, becoming more familiar with anti-dumping measures and other trade relief means as how to protect their rights and interests.

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