Textile Sector Severe in the First Quarter...7/22/2003
    According to the Industry Operation Forecast of the Fist Quarter in 2002 newly released by the Bureau of Economic Operation of State Economic and Trade Commission, China’s textile sector in the first quarter of 2002 is under severe circumstances.

During the interim period, the country’s textile sector is able to enlarge export by way of “integrated proportion”, “extra growth-rate” and “flexible terms”, and meanwhile, the decrease of raw material prices and tariff will help textile enterprises to lower production cost. China’s textile sector, as a whole, is to run better than the previous year in 2002, but to face difficult situation in the first quarter. On the basis of a survey to some major textile export enterprises, the number of export orders in the first quarter is about 5-10% lower than the same period last year, and the prices are to encounter a decrease of 10-15%. Textiles and garments export is valued at 11 bln US dollars, slightly lower than the same period last year.