Textile Industry: Capacity Expansion Accelerates Transition to Value Growth

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The soaring and plummeting cotton prices have made the textile industry miserable, and the industry is even more difficult than in 2008.

In 2011, the pace of the textile industry slowed down.

First look at the industry situation. Data show that in the first 10 months of this year, the growth rate of fixed asset investment in the textile industry decreased compared with the same period last year; excluding price factors, the actual growth rate of textile and clothing exports was only 1.14 percent; the growth rate of social clothing retail sales and retail volume decreased by 1.31 percentage points and 8.16 percentage points respectively compared with the same period last year.

Look at the current state of business. Although the industrial added value of textile enterprises above designated size has maintained a double-digit growth rate this year, since the second half of the year, the situation of tight funds and increased inventory of textile enterprises has become increasingly serious. At the end of September, among the 35600 textile enterprises above the national scale, 4218 were loss-making enterprises, with a loss of 11.9 percent, and the loss-making enterprises lost 10.55 billion billion yuan, an increase of 51.2 percent over the same period last year. Especially since the third quarter, enterprises generally reflect the poor market environment and operating conditions, small and micro enterprises shut down more.