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Jiangsu textile machinery imports soar in April

22
May '07
According to the data from Nanjing Customs, during January-April this year, total imports of textile machinery and accessories in Jiangsu ports reached US $210 million, up 40.5 percent over the same period last year.

Imports of textile machinery and accessories by private sector marked $38.14 million, an increase of 4.5 times over the same period last year, accounting for 19 percent of the total value of textile machinery imports by Jiangsu.

The main reasons for this substantial growth in textile machinery imports are as follows:

First, China abolished the management system of automatic import license on 23 categories of textile machinery since March.

Second, under the premise of Sino-EU textile trade agreement, the development of China's domestic industry, especially private enterprises, indicates good prospects. They put more efforts in technical revolution by introducing textile machinery with advanced technology from foreign countries.


Source:

Fibre2fashion, News Desk - China


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