China sees growing investment in textile industry
Source: ctei Date: 2009-12-18
Dec. 10, 2009 (China Knowledge) - Investment in China's textile industry grew 8.71% year on year to reach RMB 219.8 billion in the first nine months of this year, said Xu Wenying, vice chairman of China Textile Industry Association.
In the period from January to September, 5,815 new projects kicked off construction, 21.5% more than the same period of last year. 3,418 projects completed construction during the period, up 74% from a year ago.
The exports value of textile products and garments fell 11% year on year to RMB 124.7 billion during the nine-month period. However, the exports value to Japan grew 1.6% from a year earlier.
In the first ten months of this year, the exports value in the textile industry fell 12.08% to US$ 131.2 billion, due to the decreasing demand during the economic downturn.
Jiangsu Province, the second largest exporter among Chinese provinces, saw the exports value of textile products and garments in the Jan.-Oct period fell 15.5% and 6.3% year on year to US$8.58 billion and US$13.66 billion, respectively.
