Data shows that in the first five months of this year, nearly 30 percent of enterprises in China’s textile industry operated at a loss, and the total profit of enterprises decreased by nearly 20 percent compared with the same period last year.
According to data released by China National Textile and Apparel Council this month, from January to May this year, nearly 27 percent of China’s textile enterprises above a designated size suffered losses, down 6 percent than the same period last year; the total profit of the enterprises was 73.4 billion yuan (about $11 billion), showing a year-on-year decrease of nearly 20 percent.
At the same time, the output of yarn and textiles of enterprises above a designated size decreased by 3.2 percent and 1.3 percent respectively year-on-year, and the output of clothing and chemical fiber was basically the same as that of the same period last year. The average number of workers employed in the industry was 5.54 million, a decrease of 2.3 percent over the same period of the previous year….