Industrial textiles led the growth of textile industry in China during the first half of this year, a meeting of the executive council of the China Textiles Industry Association was told.
From January to June 2013, industrial textiles sector in China registered a growth of 14.4 percent year-on-year, ranking first in the textile industry.
The main business revenue and profit of large-scale enterprises increased 18.83 percent year-on-year and 23.4 percent year-on-year, respectively, during the six-month period.
The profit margins of the whole industry grew by 5.23 percent year-on-year, during the period, whereas industry losses declined by 7.74 percent year-on-year to 250 million yuan, which shows further improvement in economic efficiency of enterprises.
Exports of industrial textiles increased slightly during the period under discussion. Coated fabrics, healthcare textiles, and sail class fabric were the top three industrial textile export items. Imports remained flat compared to last year.
The huge domestic market remains the main driving force behind the growth of the industrial textile sector in China. It is because the increase in infrastructure construction, environmental management, health care and other inputs provide a vast domestic market for industrial textiles. As investments in these areas increase further, the demand for industrial textiles is likely to go up as well.
In 2013, the industrial textile sector is expected to continue to post a double-digit growth and lead the entire textile industry growth rate.
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