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| Textile industry witnesses rapid growth in 1st 9 months |
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| www.chinaview.cn
2006-11-14 18:58:27
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BEIJING, Nov. 14 (Xinhua) -- China's textile industry grew rapidly in the
first three quarters thanks to buoyant domestic demand, according to the China
National Textile and Apparel Council.
From January to September, industry sales reached 1,725.8 billion yuan (216
billion U.S. dollars), an increase of 22.69 percent on the same period of last
year, and profits rose to 60.1 billion yuan, up 23.69 percent.
Meanwhile, the industry's added value grew 15.29 percent to 465.3 billion
yuan.
The council said the profits of the cotton textile sector grew 43.23 percent
year on year, taking the industry top spot, while the chemical fibre sector's
profits reached 5.125 billion yuan, up 38.2 percent on the same period
last year.
Industry data show the export volume of textiles and garments amounted to
107.73 billion U.S. dollars in the January-September period, up 24.12 percent
year on year, similar to last year.
However, the council said China's textile exports to the United States and
the European Union had declined drastically due to import barriers and quotas.
As a result, the United States and the European Union, which accounted
for 34 percent of China's total textile exports in January-September 2005,
only represented 26.59 percent in the first nine months of 2006.
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