The first eight months of 2009 have seen 2,364 out of the overall 13,859 over-scale companies(with annual marketing revenue over five million RMB) of some specific sectors in textile industry including cotton spinning, chemical fiber manufacturing and dyeing & finishing companies facing loss, which means that over 17% of the companies are running on the verge of bankruptcy .

Overall marketing revenue of these three sectors reached up to 761.2 billion RMB of the first eight months, increased by 7.64% year-on-year. Overall manufacturing net cost reached up to 6,837 billion RMB, increased by 7.31% year-on-year. Tax revenue reached up to 26.2 billion RMB, increased by 2.89%.

Total assets of these three sectors amounted to 822 billion RMB, increased by 7.38% but the overall debt liabilities amounted to 492 billion RMB, increased by 4.86%.

Source: China Textile Leader