In the first half of 2007, sales revenue and export scale of China Textile Machinery Group grew enormously over the same period last year.
Sales of clearing/combing/combined machines increased by 30 percent, automatic winders gained 68 percent and combers grew by nearly 70 percent. Trades of high-grade textile machinery also showed a significant rise compared to last year.
In addition, export of different machineries doubled during this period, especially clearing/combing/combined machinery sales, which saw huge increase.
However, experts are not optimistic about the development of textile machinery industry in the second half of this year. Macroeconomic policy adjustments will adversely affect the textile industry. Trade frictions and uncertainty is leading the textile industry to suffer many losses.
With the adjustments in bank's loan rate and import tariffs to be implemented in the second half of this year, coupled with continuing appreciation of RMB, the investment scale of textile machinery enterprises may be affected.
Fibre2fashion News desk - China
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