Recently, Xu Wen Ying, Vice President of China Textile Industry Association said at 2007 denim industry annual meeting held in Shunde, Guangdong Province, that the industry should accelerate industrial restructuring and improve brand contribution to cope with RMB appreciation and export tax rebate rate cut.
It is reported that from January to August this year, above-scale enterprises of textile industry completed an industrial output of around 1.85 trillion yuan, an increase of 22.8 percent over the same time last year, and a total profit of 21 billion yuan.
Textile and garment exports reached US $111.7 billion, a growth of 19.4 percent, showing a year-on-year decline of 5.2 percent. Among them, denim exports marked 260 million meters, down 3.9 percent. Export growth slowed down.
Vice President of China Textile Industry Association Xu Wen Ying pointed out, under the impact of domestic macroeconomic policies and international anti-dumping activities, domestic denim industry has been facing growing competition this year, and entered a 'non busy in midseason, lower in off-season' era.
Enterprises met many adverse factors, such as expanded inventories, enlarged production environmental pressure, excessive appreciation of the RMB and other such challenges.
Fibre2fashion, News Desk - China
marketing@alchempro.com
