CHINA’S textile industry posted stable growth in the first four months of the year, official data showed Monday.
The total value-added output of textile companies with an annual main business revenue of at least 20 million yuan (about US$2.8 million) went up 4.2 per cent year on year during the January-April period, according to the Ministry of Industry and Information Technology.
Textile companies generated 1.49 trillion yuan in revenue during the period, representing a 0.5 per cent year-on-year decrease.
Meanwhile, the combined sales of the sector’s leading retailers totalled 6.4 trillion yuan, representing a 5.9 per cent increase from the previous year.
During the first four months, the country’s textile and garment exports totalled US$90.5 billion, an increase of 1.1 per cent year on year.
Experts analyze that although international market volatility has intensified and domestic challenges persist, the textile industry, as a traditional sector, still possesses significant scale, broad market demand, and strong employment capacity. It maintains its role as a vital pillar of the economy and the livelihoods of its people. Many textile enterprises, under the pressure of international circumstances, are increasingly investing in research and development of new materials and are actively moving toward the high end of the international industrial chain, according to an industry insider.
Xinhua
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