Chinese textile enterprises profits the past 10 years is the first negative growth

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China Textile Network editor-in-chief Wang forward that this is China's textile industry for the first time in 10 years of negative growth. (More info: http://www.jihsin.com/news/clothing_textiles_cloth...)

The China National Bureau of Statistics data show that last year's 1-11 months, Chinese textile enterprises realized a total profit of 104.2 billion yuan (about 500 billion yuan NT), than the same period in 2007 declined 1.77 percent. Experts point out that this is China's textile industry for the first time in 10 years of negative growth.
Beijing "Beijing Times" reported that last year, 1-11 months, China's large-scale textile enterprises realized a total profit growth over the same period in 2007 dropped 38.76 percentage points; Among them, the loss-making enterprises amounted to 22.7 billion loss of 50 million yuan, representing an increase over the same period in 2007 99.85%.

China Textile Network editor-in-chief Wang forward that this is China's textile industry for the first time in 10 years of negative growth.

He expects a profit last year, the textile industry will be flat in 2007, or even negative growth, while China's textile industry in 2007 profit growth as high as 37.79 percent.

China's textile exports for this year's situation, the Chinese Ministry of Commerce, "Textile Business Week," said editor-in-chief FAN Min, from the current situation, the world economy has not improved signs, external demand may shrink further deterioration.

He pointed out that the textile industry from the second half of 2008 orders, the 104th China Import and Export Fair (Canton Fair) and the status of business failures in 2008, the 2009 Q1 China's textile and garment export growth rate has dropped 30% a foregone conclusion.

China's Bureau of the latest data show that January-November 2008 large-scale textile enterprises realized a total profit of 104.2 billion yuan (RMB, the same below), than the same period in 2007 fell 1.77 percent, the growth rate over the same period in 2007 dropped 38.76 points . In which a loss of loss-making enterprises amounted to 22.75 billion yuan, representing 99.85 percent increase over the same period. Experts said the situation in textile exports in 2009 are still not optimistic.

Branches of industry, the first 11 months of the textile industry profits of 67.5 billion yuan to complete than the 2007 growth of 9.28 percent over the same period, the growth rate over the same period in 2007 dropped 21.99 percentage points; clothing, hats, footwear industry than the 13.02 percent increase over the same period, the growth rate dropped 14.1 percentage points; chemical fiber industry completed 3.402 billion yuan of profits over the same period dropped 74.89 percent, the growth rate fell sharply 184.16 points.

This is China's textile industry for the first time in 10 years of negative growth, China's first editor-in-chief Wang forward Textile Network expects full-year 2008 profits of the textile industry will be flat in 2007 or even negative growth, while in 2007 the industry profit growth as high as 37.79 %.
In global economic growth is expected to be more pessimistic background, the 2009 textile export situation, the Chinese Ministry of Commerce, "Textile Business Week" FAN Min said editor-in-chief, has always been referred to foreign trade and exports of wind vane - Fair also reflects substantial orders shrunk. In addition, the Sino-US textile agreement and the China-EU textile bilateral arrangements is about to expire, in 2009 China-US, China-EU textile trade will be is uncertain what kind of policy, together with the exchange rate, making it difficult for some companies to prevent the resulting the risk of a last resort taken by the exchange rate agreed in advance with clients the way to negotiate, so that customers can not accept, resulting in reduced turnover.

(More info: http://www.jihsin.com/news/clothing_textiles_cloth...)

FAN Min said that from the current situation, the world economy does not turn good signs of shrinking external demand is likely to deteriorate further. Enterprises from the second half of 2008 orders, the 104th Canton Fair, as well as business failures in 2008 the status quo, the 2009 first quarter decline in textile and apparel exports increased 30 percent is a foregone conclusion.