In the recent releasing Textile Industry Invigorating Plan, giving attention to both domestic and overseas markets is put into a key position. Under a series policies, such as increasing the tax rebate rate for textile and garment exports, and granting loan for SME, the further development of this industry is expectative. Otherwise, we should know that it costs time for demand driving. This need our patients. The only questionis how much time we have to wait.
Industry Reviving under Watching
According to latest statistics, China economy was reviving since the fourth season of last year. China Manufacturing Purchase Manager Index (PMI) read 45.3% in Jan., up 4.1% to previous month. While the resident consumption price index (CPI) increased 1.0% to the same period of last year. This reflects that the macro-economy control is working.
But in the overall reviving process, textile industry is much deladyed. In the 20 industries under the PMI scope, textile industry ranked the last one at less than 30%. The demand situation is not clear till now.
International Market Not Optimistic
According to China Customs, the export of textile and garment in 2008 were 189.624 billion USD, up 7.98%. The growth rate drop to the lowest in five years. There are many factors for the international demand slowing down. The global economy crisis undoubtedly effects the market demand a lot.
