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Chinese textile industry recorded double-digit growth in 2021
01 Mar '22
1 min read
Pic: humphery / Shutterstock.com
The textile industry of China witnessed a strong expansion in 2021 as its revenue and profits recorded a double-digit growth, according to the Ministry of Industry and Information Technology (MIIT). Textile firms with annual operating revenue of 20 million yuan ($3.16 million) and above recorded profits of 267.7 billion yuan in 2021, up 25.4 per cent year on year (YoY).
The total operating revenue of the firms increased by 12.3 per cent YoY to reach 5.17 trillion yuan in 2021, as per official data.
Additionally, China’s garment exports grew 8.4 per cent YoY to reach a record high of $315.5 billion in 2021.
Fibre2Fashion News Desk (KD)
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