Come textile quotas, sanctions, restrictions, the Chinese textile jaugernaut will just on roll on!
Touching a figure of 3.3 trillion yuan (US $408 billion) Chines textile sales in 2005 recorded an impressive 115.7 percent surge from 2001, as per recently released National Development and Reform Commission report.
It reported that apparel exports climbed $116 billion in 2005, again galloping by 118.9 percent over five year back figure.
Leading textile enterprises compounded sales reached 485.6 billion yuan ($60.7 billion) in 2005, which is up 119.1 percent.
Adding to this performance these enterprises almopst doubled profits in the 2001-2005 period in face of growing trade disputes particularly with the US & the EU, coupled with rising crude prices and last but not the least the most vexxed issue of RMB revaluation.
NDRC reports states that textile companies of China provide jobs to over 19 million, with more than 70 percent among them hailing from interiors within the country.
The report goes on to eugolise textile industry as impetus provider for other sectors like trade and commerce, agriculture, animal husbandry and petro-chemical industries.
marketing@alchempro.com
