Chinese textile industry has experienced dramatic changes in the external environment

Chinese textile industry as to absorb the labor force of about 20,000,000 traditional labor-intensive industries in recent years has just taken industrial upgrading and restructuring the pace, but had to suffer the dramatic changes in the external environment: a significant slowdown in external demand.

Customs on October 13 published data show that January-September this year, Chinese textile and apparel exports last year, a total of 8.12 percent year-on-year growth, export growth continued to slow. Another statistics is that the January to August this year, the textile industry, industry-wide total profit growth of only 3.2 percent over the same period of last year’s 37.39 percent decline in the full 34.19 percent.

“Economic cycle and market-oriented competition can trigger escalation of textile enterprises in transition, a transition in the globalization of industry under the inevitable way out.”