Influenced by the accelerated spread of international financial crisis and the impact of world economic growth slowdown, Shandong's textile production and sales fell sharply in 2008 with the loss rate of medium and big textile and garment enterprises reaching 7.76 percent while the total loss amounted to 901 million Yuan.
2009 is expected to be the worse and a more difficult year than that was encountered in 2008. Shandong's textile industry has set a growth target for next year, taking in to account the current situation, according to which growth of large-scale textile enterprises will be above 12 percent while profits and exports are expected to rise by 10 percent.
Shandong's textile industry will focus on key parameters like pushing forward the strategic adjustment of industrial structure, extending clothing and textile industry chain, improving equipment level of textile industry, building industrial clusters, creating ecological chain, vigorously developing domestic and foreign markets, so as to ensure stable development of the textile industry in 2009.
Fibre2fashion News Desk - China
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