In the third quarter of 2010, Chinese textile industry kept moving forward, while the pace of growth of major economic index turned to minor decline. Based on the recent release data, the gross textile industrial output from Jan. to Sep. reached 3365.674 billion yuan, rising 26.04% from the same period last year, and being 18 percentage pionts higher than the growth rate a year ago. The sales revenue were 3288.941 billion yuan, rising 26.36%, and being 18.49 percentage points higher. Both the output value and sales revenue were just next to historic high in first nine months of 2005. The pace of growth were declining from Feb. to July, but it turned to rise again in Aug. and Sep. The industrial output value of every section of this industry were growing, especially machinery and hemp & ramie textile. The contribution rate of cotton textile industry to the gross textile industrial output growth ranked No. 1 at 28.74%, followed by garment industry 24% and chemical fiber industry 11.96%.
Regarding the three major elements driving the industry development, firstly, the investment in textile industry kept stable growing and reached 276.291 billion yuan from Jan. to Sep., rising 25.66% from a year ago. The new projects grew 11.26%. The regional difference was clear. Middle and west China regions continue leading in the investment, with paces of growth at 42.61% and 56.12% respectively during this period. The share of investment in those regions also grew, and accouting for 36.12% and 9.95% respectively of the total investment. Secondly, both textile and garment export increased steadily, with a minor decline in Sep. The total export of textile and garment reached 149.82 billion USD from Jan. to Sep., rising 23.14% from a year ago. The pace of growth was 34.25 percentage points higher than that of last year, but 0.78 points lower from that of first eight months. The export of textile from Jan. to Aug. rose 32.23% on a yearly basis, with growth rate 46.72 points up; while the export of garment rising 19.02%, 29.1 points up. The export growth of textile was obviously faster than that of garment. The demands from the US, EU and Japan all grew, while the export growth to developing countries was faster than that to developed countries. Thirdly, the domestic consumption became the key support of textile industry development. The domestic sales grew 28.8% from Jan. to Sep., 16.65 points higher from a year ago. The proportion of domestic sales rose to 81.14% of the total sales. That��s 0.15 points higher than that of last year.
Referring to the quality of industry development, the proft growth stayed at the historic high point. The industry profit accumulated to 128.649 billion yuan from Jan. to Aug., rising 52.42% from a year ago, and 40.14 percentage points higher than that of same period last year. The constribution of cotton textile to the whole profit of textile industry ranked No. 1, followed by garment and chemical fiber industry. The profit of cotton textile industry were 37.075 billion yuan in first three quarters, rising 30.92%. Other key economic figures include that labor productivity grew 23.28%, leading by machinery and hemp & ramie textile industry; the industrial profit rate was 4.56%, up by 20.45%; employment grew 1.90%, rising 3.19 points.
With the favorable policies and meatures in home and abroad, the world economy and Chinese economy both stepped into recovery. The macro economic situation is good for textile industry, but there are still some negative impacts. First, the foreign exchange rate remained the key impact of Chinese textile and garment export. Second, the cost of labor and raw material kept growing and the manufacturers had to take more cost pressure. It is anticipated that the production will keep stable in the rest months this year, while the profit growth pace might slow down.
