Synthetic fiber, as one of China's most important textile raw materials, has been developing fast successively for 27 years, since the reform and opening up, with an average annual growth of 16.2 percent.
Man-made fiber production was 16.29 million tons in 2005, accounting for 42.8 percent of world production; man-made fiber consumption was 17.10 million tons, accounting for 65 percent of all the fiber consumption in domestic market; man-made fiber textile and apparel export reached US $45.35 billion, accounting for 36 percent of the total export amount of textile industry.
Man-made fiber and its lower processing chains have already emerged as the main profit-gaining sections in textile industry.
However, in the past two years, the performance of synthetic fiber industry has not been so good. It has entered its ninth periodical bottom since 1975. But the situation improved in the first half of 2006.
In the first half year, man-made fiber industry realized profits of 2.857 billion yuan, significantly rising 51.5 percent from the same period of last year, having reversed the situation of falling 20.6 percent in the first quarter.
The deficits of those lost enterprises reduced 18.71 percent; the industry-wide loss was 23.84 percent, down 2.95 percent from the same period of the previous year.
Fibre2fashion, News Desk - China
marketing@alchempro.com
