China’s textile sector shows stable expansion from January to June

Par :| Key words : China, industrial textile| Updated on 13-08-2022

China’s textile industry showed steady revenue growth in the first half of the year, official data showed.

Textile enterprises with annual main business income of at least 20 million yuan (about 3 million U.S. dollars) earned 2.52 trillion yuan in revenue in the first six months of 2022, up 5.7 % on an annual basis, according to the Ministry of Industry and Information Technology.

The total value added of these companies increased by 0.9% year-on-year during the period.

Combined sales of major retailers amounted to 8.12 trillion yuan in the January-June period, up 0.8 percent year on year. The country’s apparel exports totaled $156.5 billion, an increase of 11.7%.

But the data also showed a 17% year-on-year drop in total profits for these companies and a slight decline in the production of yarns, fabrics and garments. Employment in the textile sector also fell slightly.

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