China's Q1 Textile Industry Profit Growth Hits 24.4%
China's textile and clothing industry recorded improved profit growth in the first quarter of 2009, which hit 24.4 per cent, up from the 17.6 per cent in the January-February period, according to statistics released by the National Bureau of Statistics Thursday.
Egytex News Desk
Source: Manufacturing Business Technology
Wang Qianjin, chief editor from webtextiles.com, said that some textile enterprises did enjoy recovered business, boosted by the country's stimulus measures. However, the industry's current excess capacity may hinder its development, especially at the moment when external market demands are shrivelling.
The industry's investments have maintained double-digit growth for many years, resulting in a large amount of excess production capacity and lowered the industry's profitability.
Wang noted that the industry's recovery depends on increasing margins, a revived environment abroad and rising market prices.
Source: Manufacturing Business Technology
From the Egytex news archive, first published on 17 May 2009. Figures and names are as reported at the time.
