Monday, November 7, 2011

Chinese textiles profits up 25%

China's large textile businesses took in 133.15 billion yuan (19.57 billion U.S. dollars) in profits in the first 11 months of last year, according to figures released by the China Textile Industry Association.The profits were up by 25.39 percent year on year, 36.40 percentage points more than that in the Jan.-Feb. period. The industry posted a total production value of 3.43 trillion yuan and 3.35 trillion yuan in sales value, each up by 9.71 percent and 9.82 percent as all major products saw production rise. The industry also witnessed a slow recovery in export. In the 11 months, garment export fell by 11.02 percent to 154.1 billion U.S. dollars, but the drop narrowed by 0.19 percentage points compared to the first 10 months. By contrast, domestic sale accounted for 79.89 percent in the total sales, up by 3.15 percent.


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