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Textile industry in China posts stable growth

Textile industry in China posts stable growth

China’s textile sector had stable development in the first 11 months last year, according to the National Development and Reform Commission. Value-added output of firms above a designated size rose 2.5 per cent year on year, with output in the sub-sectors of fibre, industrial textiles and garment up 11.8 per cent, 7.1 per cent and 1 per cent respectively.
Domestic retail sales of apparel and knitwear stood at 1.2 trillion yuan ($172.4 billion), up 3 per cent year on year, according to an official news agency.

Online garment sales continued to expand nationwide, with the turnover reporting a 16.5 per cent yearly growth and new sales modes like live video streaming attracting consumers, the data showed.

From January to November 2019, China’s textile and garment export declined 2.6 per cent year on year to $246.9 billion, with the pace of drop decelerating 0.1 percentage point from a month earlier.
Textile firms over designated size generated combined operating revenue of 4.03 trillion yuan from January to October 2019, up 0.2 per cent year on year, while the total profit dropped 8.7 per cent year on year to 168.8 billion yuan.

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