Domestic Sales Becomes Main Driving Force of China's Textile Industry

According to China Textile Industry Association, the market share of China's domestic market sales reached new highs in recent two years, becoming the main driving force of China's textile industry.

Sun Ruizhe, vice president of China Textile Industry Association said the international experience shows that economic growth of large countries mainly relies on domestic demand. In domestic textile and apparel field, since the financial crisis in 2008, demand from foreign major markets was shrinking, the proportion of China's domestic textile demand showed a clear upward trend. In the first nine months in 2010, China's domestic output value of textile and garment industry witnessed an increase of approximately 29% year-on-year and the proportion of domestic sales increased to 81.14%, up by 0.15% over the previous year. From 2005 to 2010, annual growth of China's domestic fiber consumption per capita averaged 4.24% and average annual growth of clothing consumption per capita reached 12.51%.

In addition, the retail clothing sales in the first three quarters this year was up by 25.4%, 12% higher than the same period last year. The cumulative growth rate kept at 25% or more, much higher than last year.
　
Sun Ruizhe predicted that China's domestic market is brewing a new round of profound growth.

source:CCFGroup.com