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Zhejiang Reports Profit Surge in Textile
Source: China Chamber of Commerce for Import & Export of Textiles Date: 2006-03-29
The textile industry in east China’s Zhejiang Province reaped 18 billion yuan (US$2.25 billion) in profit last year, 25.6 percent more than that of the previous year.
Despite foreign trade barriers and price increases for raw materials, the province exported US$24.4 billion worth of garments in 2005 and remained the largest exporter in China, followed by southern Guangdong Province.
The garments exported accounted for 21.24 percent of the country’s total in 2005.
Observers said that Zhejiang textile makers achieved the results by upgrading machines and adopting state-of-the-art technologies.
