Top Textile Firms Endure Tough 2002

New figures on Wednesday revealed profits at China's 45 leading textile firms fell 11 per cent in the first seven months of 2002 to $139.7 million from the year-ago period.

According to figures from the State Economic and Trade Commission, lower prices led to the enterprises’ combined profit falling 8.5 per cent to $178m from 2001, with revenue up 1.1 per cent at $4.4 billion compared to 11 per cent growth in the prior year.

It added exports for the first seven months climbed 4.3 per cent to $824m

Source: just-style.com