Sun: Overall competitiveness of China's textile industry still on rise this year

Vice president of China Textile Industry Association Sun Rui Zhe said yesterday, China's textile enterprises above designated size (annual revenue of main business above 20 million yuan) achieved 55.4 billion yuan of profits in the first quarter of this year, an increase of 53.57 percent year on year. Overall competitiveness of the textile industry is still on the rise this year, exports and domestic sales are both good, growth rate is expected to be more stable in the second half this year.

But he also points out that the textile industry will be inevitable to face production at high cost, especially SMEs have to bear relatively large pressures.

Customs statistics showed that China's total textile and apparel exports registered US $68.5 billion from January to April 2011, an increase of 27.4 percent year on year.

The analysis of export prices in the first quarter showed that average price of yarn exports rose by 27 percent, average price of fabric exports rose over 20 percent, export price of apparel increased 20 percent.

China is relatively short in terms of resources, such as 1 / 4 of cotton is imported from abroad, now China is looking for alternative sources of fiber, it will be an important goal to solve resource balance of textile and garment industry in the " Twelfth Five Year Plan", said Sun Rui Zhe.