Textile industry reports stable growth

China's textile industry posted stable growth in the first four months of the year, official data show.

The total value-added output of textile companies with an annual main business revenue of at least 20 million yuan ($2.79 million) went up 4.2 percent year-on-year during the January-April period, according to the Ministry of Industry and Information Technology.

Textile companies generated 1.49 trillion yuan in revenue during the period, representing a 0.5 percent year-on-year decrease.

Meanwhile, combined sales of the sector's leading retailers totaled 6.4 trillion yuan, representing a 5.9 percent increase from the previous year.

During the first four months, the country's textile and garment exports totaled $90.5 billion, an increase of 1.1 percent year-on-year.

Experts said that although international market volatility has intensified and domestic challenges persist, the textile industry, as a traditional sector, still possesses significant scale, broad market demand and strong employment capacity. It maintains its role as a vital pillar of the economy and securing the livelihood of the people.

Many textile enterprises, under the pressure of international circumstances, are increasingly investing in research and development of new materials and are actively moving toward the high end of the international industrial chain, according to an industry insider.

Xinhua - China Daily