China : Textile exports drop in Oct.

BEIJING, Dec. 7 (Xinhuanet) -- China exported 10.349 billion US dollars of textiles in October, down 13.64 percent from September,said the Ministry of Commerce on Wednesday.

Although China's monthly textile export volume exceeded 10 billion US dollars for the consecutive five months this year, its year-on-year growth rate has slowed down, according to the ministry.

The abolishment of the global textile quota at the beginning of this year as well as China's textile production capacity expansion led to the sustained growth of China's textile exports, but the Renminbi appreciation policy and trade frictions with the United States and European Union have affected China's textile exports inthe latter half of this year, the ministry said.

The European Union and the United States have respectively signed textile deals with China this year after tough talks, setting quotas on China's textile exports to the two markets for acouple of years. Enditem

Xinhuanet.com