According to statistics of Chinese Statistics Bureau, the gross profit of Chinese textile industry touched 10.09 percent in the first eight months of this year.
Although, the earnings of clothing, shoes and caps industry reached 13.85 percent, most Chinese enterprises were unable to fetch any profit and around 17.9 percent of Chinese textile enterprises and 21.7 percent clothing enterprises faced losses.
Experts analyzed the reason behind these losses. Lack of funds, RMB appreciation, labour shortage and the severe competition of other countries led to the plunge in exports of Chinese textile and clothing industry.
However, quick rise in the domestic sale made up for this downfall and balanced the overall exports figures for January to September. The sales of Chinese domestic clothing, shoes, caps and textile products in this period increased by 24.7 percent with a rise rate more than 20 percent.
Fibre2fashion News Desk - China
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