The textile industry in Jiangsu Province earned sales revenue of near CNY 1.29 trillion in 2013, accounting for 20% of the national total, ranking the first place, according to the development and reform commission of Jiangsu Province.

In January-December of 2013, the local textile industry handed over CNY 194.17 billion worth of textile products for export, up 8.8% year-on-year, improving 5.5 percentage points from the previous year, accounting for 21.9% of the national textile industry’s total. The delivery to export in value term is 8.3 percentage points higher than local industries’ total and 1.6 points higher than the national textile industry’s total.

Confronted with negative effects such as price difference of cotton between home and abroad, quota, rising production costs and RMB appreciation, the textile industry is loosing its competitiveness on conventional textile export markets and the capacity utilization rate of the cotton sector nationwide is lower than 80%. Nevertheless, some backbone cotton textile enterprises in Jiangsu Province achieved promising economic results thanks to the efforts made to developing high value-added products. In 2013, the textile, apparel and accessories industry realized a gross industrial output of CNY 386.24 billion, up 12.5% year-on-year, 1.7 percentage points higher than local industries’ average and 3.5 points higher than the textile industry’s average. However, some small-sized, processing trade-based and OEM enterprises operated in difficulties as they relied more on price competition at low end of the value-added chain.

Source: China Textile Leader Express