China's domestic sale growth of knitted products exceeds overseas sales
Source: CCPIT TEX Date: 2006-02-22
It is reported by Xinhua that in 2005, the growth rate of Chinese-made knitted products in its domestic market reached 31.1 percent, 10.5 percentage points higher than that in the overseas market, according to the latest figures from the China Textile Network.
Since 2005, although the world's textile quota was finally eliminated, China found its textiles including knitted products hard to grow fast due to increasing international trade disputes with the United States, the European Union and other trade partners.
To make full use of the country's huge textile manufacture capacity, China has made an all-out effort to expand its domestic consumption market as well as tap the potential of the overseas market.
The Chinese government has decided to include the domestic consumption stimulation into its next Five-Year Plan.
In 2005, the fixed asset investment in China's knitted product industry jumped 41.7 percent year on year to 12.33 billion yuan (1.5 billion U.S. dollars), and the total output in this industry grew 25.49 percent to 209.47 billion yuan.
