China's textile industry reports moderate growth (Xinhua) Updated: 2006-04-30 09:17
The first quarter results show China's textile industry maintained moderate
growth in the first quarter, though the growth of export to the EU and the
United States recorded a sharp drop.
China's export of garment in the
first quarter grew 22.16 percent year on year to 27.99 billion U.S. dollars, the
Economic Information Daily quoted sources with China Textile Industry
Association as saying on Saturday.
The growth rate is 3.17 percentage
points higher than that of the same period last year, Sun Huaibin, the
association's spokesman told the newspaper.
China's textile exports to
the United States and European Union which set quota limits reached 8.37 billion
U.S. dollars, growing only 9.7 percent increase, which is 47 percentage points
lower than the growth rate for the same period of last year.
Meanwhile,
Chinese mainland's textile exports to Japan, Hong Kong, the Republic of Korea
and the Association of Southeast Asian Nations, which have no quota
restrictions, jumped 28.38 percent, up 23.32 percentage points higher than the
growth in last year's same period.
Sun expected China's textile output
to grow 20 percent and exports to grow 15 percent this year, the newspaper
said. (For more biz stories, please visit Industry Updates) |