After a sluggish run for couple of years, investment in textile industry has gradually began steady growth around 2006, and machinery imports indicate a corresponding process from rise to decline.
China's total imports of textile machinery reached US $4.37 billion and $4.5 billion respectively in 2003 and 2004, set historical peaks. But in 2005, imports declined to $3.41 billion, down 24.4 percent from the previous year. Imports of textile machinery bounced back in 2006.
According to customs statistics, imports of textile machinery in 2006 hit $4.06 billion, an increase of 19.2 percent over the previous year. In the first seven months of 2007, China's imports of textile machinery further accelerated to $2.69 billion, increase by 28 percent over the previous year (same below), 8.8 points higher than the full year of 2006.
The first seven months, China's imports of knitting machines and stitch bonding machines were 17,000 units, up 19.1 percent, worth of $710 million, an increase of 37.6 percent, accounting for 26.2 percent of total imports of textile machinery for the same period.
Imports of foreign-invested enterprises ranked the first, while imports of private sector represented a rapid growth.
The EU and Japan were the main source of imports. In the first seven months, China's imports of textile machinery from the EU marked $1.26 billion, up 32.6 percent, accounting for 46.8 percent.
Of these, imports from Germany amounted to $750 million. Imports from Japan reached $850 million, a surge of 28.8 percent, accounting for 31.6 percent. Imports from the EU and Japan together accounted for 78.4 percent of the total imports for the same period.
Jiangsu, Zhejiang, Guangdong were the top three importing provinces in the same period.
Fibre2fashion, News Desk - China
marketing@alchempro.com
