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China’s textile sector profits decline, loss rises rapidly
Source: Fibre2fashion News Desk - China Date: 2012-04-10
Big and major Chinese textile companies achieved income of 726.2 billion Yuan in January-February 2012, up 19.6 percent year on year. Their total profits reached 33.4 billion Yuan, down 2.3 percent year on year.
Of which, profits of cotton spinning & processing industry fell 5.1 percent and those of chemical fiber manufacturing fell 52.4 percent year on year.
In the same period, total losses of loss-making enterprises increased by 95.9 percent year on year.
Among them, the number of loss-making enterprises in chemical fiber manufacturing grew by 91.1 percent year on year.
