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China’s textile sector profits decline, loss rises rapidly

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Big and major Chinese textile companies achieved income of 726.2 billion Yuan in January-February 2012, up 19.6 percent year on year.

Their total profits reached 33.4 billion Yuan, down 2.3 percent year on year.

Of which, profits of cotton spinning & processing industry fell 5.1 percent and those of chemical fiber manufacturing fell 52.4 percent year on year.

In the same period, total losses of loss-making enterprises increased by 95.9 percent year on year.

Among them, the number of loss-making enterprises in chemical fiber manufacturing grew by 91.1 percent year on year.
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