The added value of China's textile and apparel industry increased 6.7 percent year on year in January and August this year, outgrowing the average of domestic manufacturing sector, according to Gao Yong, deputy director of China National Textile and Apparel Council.
Gao also predicted China's textile and apparel output value is expected to exceed 9 trillion yuan in 2015. He attributed the increase mainly to the growth of chemical fiber, which saw its industrial added value jump 10.24 percent year on year in the first half of this year and its output reach 30.88 million metric tons (tonnes) in January and August.
"The cost of chemical fiber industry has decreased thanks to the drop of global oil price. Both output and profit of chemical fiber industry rose in the first eight months", said Gao. Meanwhile, the apparel industry produced 19.2 billion pieces of clothes in January and August, up only 0.81 percent year on year due to sluggishness of internal demand, a rather low growth in the whole textile and apparel industry.
Export of textile and apparel reached 189.1 billion US dollars in the first eight months of 2015, down 4.45 percent, declining for three straight months. The fixed asset investment of the whole textile and apparel industry increased 15.7 percent year on year in January and August, indicating the investment in this field has bottomed out.
Gao estimated that the textile industry would keep steady growth if the industrial investment maintained such a pace during the 13th Five-Year Plan period (2016-2020).
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