Foreign Firms Account For 1/3 of China’s Textile Exports
Source: CCPIT TEX Date: 2006-04-07
The export of textiles by foreign-funded enterprises accounts for over one third of China’s total textiles export, said recently Bo Xilai, minister of the Ministry of Commerce of China.
He said that 70 per cent of the textiles export without quota were made by foreign-funded enterprises in 2005.
The minister made the remarks at an economic forum on global textiles held recently in Beijing, saying China has imported US$18.8 billion worth of textile equipment over the past five years.
China imported US$23.5 billion worth of textile machinery and equipment, cotton, wool, dyeing stuff and chemical fibers in 2005, including 12.87 million tons of textile raw materials and products and 2.57 million tons of cotton. He noted that China alone imported 1.2 million tons of cotton from the United State in the year.
He predicted that China will import four million tons of cotton by 2010.
He said that China’s per-capita consumption of fibers stood at 14 kilograms in 2005 as against 7.5 kilograms in 2000; the country’s expenditure on clothing rose from 337.5 billion yuan in 2000 to 682.6 billion yuan in 2005, with an annual growth of over 15 per cent.
According to the 11th Five-Year program (2006-2010), Chinas per-capita GDP will reach US$2,700 by 2010. By then, the per-capita consumption of fibers will be 18 kilograms, which will provide more business opportunities and profits to textile producers all over the world.
