China : Export of textiles to rise 15-20% in 2007

At China Textile Round Table Forum held in Beijing on January 30, 2007, Sun Jiwen, Deputy Director, Foreign Trade Department, Ministry of Commerce, informed the media that exports of local textile products will increase 15-20 percent this year.

Textile goods worth $174 billion were exported in 2006, which was 25 percent higher than that in 2005.

Jiwen opined that as global economy remains steady, rising per capita income will ensure double digit growth of textile industry.

But profit margins, which are already low, could be further reduced by factors like heavy costs of oil, cotton and other raw materials as well as increase in worth of Chinese currency.