China: Textile Enterprises Post Nearly 40% Growth in Profits(2007-5-6)
May 6, 2007
Major Chinese textile enterprises realized 115.8 trillion yuan (15 trillion U.S. dollars) in combined profits in the first two months of this year, a year-on-year growth of 39.5 percent, sources with the China Textile Industry Association said on Sunday.
The number of the major textile enterprises, each with an annual sales income of at least five million yuan (649,350 U.S. dollars), increased by 12.1 percent year-on-year to 42,000 in the Jan.-Feb. period.
Their combined industrial output amounted to 3,902 trillion yuan (507 trillion U.S. dollars) in the two months, up 24.1 percent, the sources added.
In the first quarter, China's textile sector recorded 32.23 billion U.S. dollars in export value, up 14.9 percent from a year earlier, and 4.02 billion U.S. dollars in import value, up 4.9 percent.
The sector invested 39.1 billion yuan (five billion U.S. dollars) in fixed assets in the January-March period, up 31.6 percent.
The sector produced 4.17 million tons of yarn, up 21.6 percent,and 10.5 billion meters of fabrics, up 8.1 percent. Its clothing output increased by 20.5 percent to 4.1 billion units, and the chemical fiber output up 16.9 percent to 5.37 million tons [Xinhua News].The entire designer handbags uk packaging process is paid into detail to enhance the collections quality and appearance.