BUSINESS China's textile industry posts stable growth

BUSINESS

China's textile industry posts stable growth

Xinhua

14:26, January 05, 2020

BEIJING, Jan. 5 (Xinhua) -- China's textile sector reported stable development in the first 11 months of 2019, data from the National Development and Reform Commission showed.

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Photo: CGTN

Value-added output of enterprises above designated size rose 2.5 percent year on year, with output in the sub-sectors of fiber, industrial textiles and garment up 11.8 percent, 7.1 percent and 1 percent, respectively, according to the commission.

Domestic retail sales of apparel and knitwear stood at 1.2 trillion yuan (about 172.4 billion U.S. dollars), up 3 percent year on year.

Online garment sales continued to expand nationwide, with the turnover reporting a 16.5-percent yearly growth and new sales modes such as live video streaming attracting consumers, the data showed.

From January to November 2019, China's textile and garment export declined 2.6 percent year on year to 246.9 billion dollars, with the pace of drop decelerating 0.1 percentage point from one month earlier.

Textile firms over designated size generated combined operating revenue of 4.03 trillion yuan from January to October 2019, up 0.2 percent year on year, while the total profit dropped 8.7 percent year on year to 168.8 billion yuan.

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