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Investment in chemical fiber fixed assets, rebounds

31
Mar '07
The third council meeting of the Chinese chemical fiber associations was held, recently in Tongxiang, Zhejiang. During the meet, the President of China Chemical Fiber Industry Association, Zheng Zhiyi said, the growth rate of investment in fixed assets of the sector rebounded in the past two years.

Statistics show that the investment growth-rate in 2004 was as high as 44.1 percent. But it dropped two percent in 2005, increased three percent in the first quarter of 2006, and 3.2 percent in January-May 2006. In January-June 2006, the growth rate speeded up to 18.1 percent, bounced back to 23 percent by October and soared as high as 33.8 percent by November. Though, by December the growth rate reduced by 10.9 percent, it was still as high as 22.9 percent.

From the industrial sectors, man-made fiber industry performed well. It actually completed an investment of 5.77 billion yuan in 2006, up 10.2 percent, with 49 new projects, less 24 projects than the corresponding period of the previous year.

Growth rate of investment in fixed assets of synthetic fiber industry was faster, it actually completed an investment of 15.63 billion yuan, up 28.4 percent, accounting for 73.1 percent of the total investment of chemical fiber industry, with 169 new projects, increasing 30 items over the same period of the previous year.

This rapid recovery in investment is expected to bring a huge impact on the operation of industry, especially after this year.

Fibre2fashion, News Desk - China


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