The whole situation of textile industry turned to be good, with noticeable growth in both the output and profit. Most economic indicators saw double-digit growth, which made a sound foundation for the development of the 2nd half year.

Production of major products maintained steady growth
Production and sales maintained steady growth, although the growth velocity slowed down. For the first six months of 2010, the gross industrial output value reached 2117.114 billion CNY, rising by 25.94% year-on-year which is 19.55 percentage points higher than the same period of the previous year. The sales turnover reached 2066.179 billion CNY.

Growth of major products was also slow and steady. Chemical fiber output went up 13.43% with growth velocity rising by 2.86 percentage points year-on-year. The growth velocity, however, kept going down for four consecutive months since early this year. Yarn output grew by 16.96% with growth velocity rising by 7.56 percentage points year-on-year. Fabrics output grew by 16.40% with growth velocity rising by 16.24 percentage points year-on-year.

Fixed asset investment and employment situation picked up
Both investment and employment saw recovery. The investment accumulated to 165.256 billion CNY, up 22.61% year-on-year over the first six months of 2010 which is 16.26 percentage points higher than the same period of last year.

About 4,491 new programs were kicked off over the first half year, rising by 14.27% year-on-year. The growth velocity, however, was 7.77 percentage points lower as compared to the precedent year. Geographically, the investment of middle and western provinces respectively witnessed 46.72% and 59.97% of growth.

Export rebounded
The export of textile products gradually recovered to the level of 2008 when the economic crisis hasn´t yet broken out. According to the statistics from the National Bureau of Statistics, the export of textiles and garments reached US$ 88.878 billion over the first six months, rising by 22.04% year-on-year. The growth velocity was 33.10 percentage points higher than the same period of 2009. Of which, the textile export was 35.652 billion USD, up 32.31%; clothes export 53.226 billion USD, up 16.02%.

Domestic market demand shored up the whole advancement of textile industry
Domestic sales over the first six months of 2010 rose 28.26% with growth velocity increasing 17.55 percentage points year-on-year. The domestic sales accounted for nearly 82% of the overall turnover. According to the top 100 department stores statistics, the sales of clothes and knitted goods over the first five months of 2010 respectively grew by 23.84% and 14.79% from the first five months of 2009.

Source: China Textile Leader