China’s textile output reaches RMB3.96 trillion in first nine months
According to the statistics of the China National Textile & Apparel Council (CNTAC) Statistics Center, during January to September this year, the total production output of Chinese above-scale enterprises (firms with an annual sales volume of RMB20 million) amounted to RMB3.96 trillion (about US$621 billion), up by 28.98% year on year. Excluding the dyeing and finishing sector, other sectors of the textile and apparel industry saw over 20% of growth in production output.
During the same period, the entire industry gained operational revenue of RMB3.84 trillion (about US$603 billion), up by 29.43% year on year, with double-digit growth rate in every sector of the industry. Particularly, the linen spinning sector witnessed the fastest growth rate in operational revenue, reaching 38.41%.
During January to September, Chinese above-scale firms’ rate of products sold was 97.76%, up by 0.18 percentage points year on year. Of the different sectors in the industry, cotton spinning saw the highest rate (98.39%), while linen spinning witnessed the highest year-on-year growth in the rate of products sold, up by 0.96 percentage points year on year.
Besides, during January to September, China’s above-scale firms reached a cumulative profit of RMB190.03 billion (about US$30 billion), up by 32.54%, showing a better capacity to make profit compared with the same period of last year.
In the first nine months of this year, the profitability rate of Chinese above-scale firms in the entire textile industry was 5.63%, up by 0.13 percentage points year on year. Among its sectors, the profitability rates of textile machinery, garment and finished items were 7.53%, 6.40% and 5.68% respectively, while those of chemical fiber, knitting, and dyeing and printing did not exceed 0.3%. In terms of profitability rate, linen spinning registered the highest growth (+1.36 percentage points).
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China’s textile output reaches RMB3.96 trillion in first nine months