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China's industrial textiles sector grows 14.4% in h1 2013

China's industrial textiles sector grows 14.4% in h1 2013 Source:
Date: 05-08-2013
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In the first half of this year, Chinese industrial textiles sector grew at 14.4 percent year-on-year, posting the highest growth rate among the various sectors of the textile industry, according to the China National Textile and Apparel Council.
Investment in the industrial textiles sector grew by 21.13 percent year-on-year to 19.19 billion yuan.
From January to May 2013, the main business income of large scale industrial textile enterprises rose by 19.76 percent year-on-year to 89.87 billion yuan, while profits increased by 27.04 percent year-on-year to 4.7 billion yuan.
During the five-month period, Chinese industrial textiles exports grew by 6.16 percent to US$ 7.97 billion.
In 2013, China’s economic growth continued to slow down, due to sluggish recovery in major economies abroad, and industrial textiles industry faces complex situation.
However, the positive factors supporting development of the industrial textiles still exist. The huge domestic market is the main driving force to promote the industry’s growth. The increase in infrastructure construction, environmental management, health care and other inputs provide a vast domestic market for industrial textiles.
In the future, investments in these areas will be further increased, which is expected to boost demand for industrial textiles.
According to a survey by the China National Textile and Apparel Council, market demand for industrial textiles continues to grow, and both production and sales are witnessing rapid growth, stimulating more investment in the industry than last year.
On the export side, if the industry can consolidate its position in traditional markets, and increase exports to emerging market, the annual industrial textile exports can maintain a growth rate of about 10 percent.
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