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Investments in Chinese textile sector witness growth

17
Nov '09
Vice-President of China Textile Industry Association, Mr Xu Wen Ying said at the inaugural meeting of the Textile and Garment Industry Association in Inner Mongolia on November 12, that investment in the textile industry has grown, but exports have declined.

He said that, investment in the textile industry in the country touched 219.8 billion Yuan from January to September this year, an increase of 8.71 percent year on year. 5,815 new projects were set up, up 21.5 percent year on year of which 3,418 projects were completed.

Overall, the investment of textile industry in central and western regions grew rapidly, while investments in eastern region recorded negative growth.

From January to September this year, China's exports of textile and apparel realized US $124.7 billion, down 11.1 percent year on year. Exports to Japan increased by 1.6 percent, while exports to all other countries and regions showed negative growth.

Among the countries and regions to which exports from the textile and apparel industry witnessed negative growth, were the United States which fell 0.01 percent, exports to European Union declined by 8 percent and exports to Hong Kong reduced by 16.6 percent.

Fibre2fashion News Desk


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