Textile machinery import mounts up in Jan & Feb

19 Apr '08

2 min read

According to Customs Statistics, during first two months of 2008, the import of textile machinery in China reached nearly US $720 million, a growth of 12.9 percent over the same period of last year.

In January and February 2008, textile machinery imports in general trade were worth $420 million, up by 10.9 percent, accounting for 57.8 percent of the total value when compared to same period of 2007.

Foreign-funded enterprises invested almost $220 million for imports of equipment, a slight rise of 1.8 percent.

Imports by foreign-funded companies grew substantially, while that of state-owned enterprises decreased in this period. Units with foreign-investment imported machinery worth $380 million, witnessing a growth of 20.4 percent, which accounted for 48.3 percent of total trade.

The private sector invested $200 million on equipments, which saw a boost of 8 percent, accounting for 28.2 percent of collective trade value. While the state-owned enterprises expended $120 million on these commodities, observing a fall of 4.4 percent.

In the first two months of this year China mainly imported machinery from EU and Japan. The import value from EU reached $380 million, depicting a growth of 19 percent, which contributed 52.6 percent to total trade value. Where as from Japan, eqwuipments worth $220 million were imported registering a hike of 34 percent, accounting for 30.8 percent to overall trade of the nation.

Fibre2fashion News Desk - China

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