Zhejiang reports profit surge in textile (Xinhua) Updated: 2006-03-16 16:14
The textile industry in east China's Zhejiang Province reaped 18 billion yuan
(US$2.25 billion) in profit last year, 25.6 percent more than that of the
previous year.
Despite foreign trade barriers and price increases for raw materials, the
province exported US$24.4 billion worth of garments in 2005 and remained the
largest exporter in China, followed by southern Guangdong Province.
The garments exported accounted for 21.24 percent of the country's total in
2005.
Observers said that Zhejiang textile makers achieved the results by upgrading
machines and adopting state-of-the-art technologies. (For more biz stories, please visit Industry Updates) |