Output Value of China`s Textile Industry to Grow 20 percent in 2007
Source: Sinocast LLC Date: 2007-07-06
In 2007, China’s textile industry is estimated to enjoy a 20% hike in gross output value, a 15% rise in export and a 25% jump in investment, according to Zhang Li, inspector of the National Development and Reform Commission.
Presently, the domestic textile industry is mainly bolstered by the market demand of China and the world, especially the domestic market which takes a 75% share for now, said Ms. Zhang.
In 2006, the country’s public consumption increased 13.7%, with the growth exceeding the 10.7% of GDP for the first time. Meanwhile, the rural consumption with a growth of over 12.6% also boosted the textile market largely.
The above-designated enterprises engaged with wholesale and retail of dresses have achieved a 17.5% annual growth in turnover during 2000 and 2006. From January to April of 2007, their turnover hiked by 26.2%, and that of professional wholesale market and county-tier retailers have already doubled.
Additionally, the enlarged production capacity, the structural adjustment, the technical innovation, and the birth of new brands will all help improve the development of the textile industry.
