China’s industrial profits for the first two months of this year declined 4.2% year-on-year to CNY 745.24 billion (US$ 121.5 billion), in which, profits of main textile businesses surged 6.4%.

During the first two months of 2015, 30 of the 41 sectors surveyed reported year-on-year profit increases, with profit of textile sector surging 8.8% year-on-year, that of chemical raw materials and products rising 1.1%.

Major financial data of above-scale industrial enterprises (with annual revenue exceeding CNY 20 million) show that in the first two months of this year, the prime business revenue of textile sector grew 6.4% year-on-year to CNY 524.70 billion; the total profits stood at CNY 25.37 billion, up 8.8% year-on-year; the prime business revenue of textile garment & accessories sector stood at CNY 17.14 billion, up 10.4%. Meanwhile, the prime business revenue of leather, fur, feather & down and their made-up products and shoe-making sector grew 8.2% year-on-year to CNY 187.86 billion; and the total profits surged 11.7% year-on-year to CNY 11.51 billion.

Source: China Textile Leader Express