Chinese Textile Firms Post Profit of RMB 104.2 bln in Jan-Nov
[2009-01-12]
Profits of Chinese textile enterprises began to drop since the second half of last year due to the shrink external demands amid the global financial crisis, sources reported.
Profits of major textile firms in the first 11 months of 2008 was RMB 104.2 billion, down 1.77% year-on-year, and the growth rate declined 38.76 percentages points from a year earlier, according to the National Bureau of Statisitics.
Losses of textile firms surged 99.85% to RMB 22.75 billion during the period, compared with that of a year ago.
It is estimated that China's exports for textiles and apparels would drop 30% in the first quarter of 2009.
Source: alibaba
Keywords: Textile
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