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Textile industry to record steady growth this year

19
Mar '07
The establishment meeting of the Research Institute of listed textile companies was held on March 10 in Xiamen. The meeting pointed out that '10th Five-Year Plan' period was the fastest-growing five years of textile industry, showing a two-digit growth rate. Investment was a major factor stimulating the development of the industry.

The overall estimation on the industry's future development is that from the beginning of 2007, domestic textile industry will record steady growth as against rapid development earlier.

Combined pressures from internal and external are the main factors leading to a slowdown in industrial growth. Meanwhile, it will also reflect the rough nature being covered in the earlier rapid growth.

It will ultimately improve the overall development environment of the industry, and enhance industrial competitiveness through technological innovation, brand building, marketing channels to realize industrial restructuring and upgrading.

Before 2008, the textile industry will face a decline in profit growth, and an internal process in which the fittest will survive and the inferior will be eliminated.

Fibre2fashion, News Desk - China


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