In 2006, textile and apparel exports to South Korea, ASEAN, Africa, Canada, Mexico, Turkey and other countries increased more than 25 percent in general. Due to trade frictions and imperfection of export quota mechanism, exports to Europe and North American regions suffered substantial drop, while exports to non-restricted regions increased rapidly.
Due to the state's macroeconomic control measures, in 2006, the investment growth in fixed assets declined noticeably. The whole industry completed 202.971 billion yuan of investment in fixed assets, an increase of 27.09 percent, representing 8.36 percent drop in growth rate from that in 2005. Investment growth in central and western areas accelerated, industry transferring trend increased obviously.
China Textile Industry Association decided after thorough analysis, that under sound development of the national economy, textile industry is expected to remain healthy, stable and relatively fast growth in 2007.
Production value and exports will maintain the growth rate of about 20 percent. Production of yarn, fabrics, clothing and chemical fiber will grow by more than 10 percent. Investment growth in fixed assets is estimated to reach 20 percent. Above-scale enterprises will achieve a total profit of more than 100 billion yuan in 2007.
Fibre2fashion, News Desk - China
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