In the third quarter of 2010, Chinese textile industry kept moving forward, while the pace of growth of major economic index turned to minor decline. Based on the recent release data, the gross textile industrial output from Jan. to Sep. reached 3365.674 billion yuan, rising 26.04% from the same period last year, and being 18 percentage pionts higher than the growth rate a year ago. The sales revenue were 3288.941 billion yuan, rising 26.36%, and being 18.49 percentage points higher. Both the output value and sales revenue were just next to historic high in first nine months of 2005. The pace of growth were declining from Feb. to July, but it turned to rise again in Aug. and Sep. The industrial output value of every section of this industry were growing, especially machinery and hemp & ramie textile. The contribution rate of cotton textile industry to the gross textile industrial output growth ranked No. 1 at 28.74%, followed by garment industry 24% and chemical fiber industry 11.96%.
With the favorable policies and meatures in home and abroad, the world economy and Chinese economy both stepped into recovery. The macro economic situation is good for textile industry, but there are still some negative impacts. First, the foreign exchange rate remained the key impact of Chinese textile and garment export. Second, the cost of labor and raw material kept growing and the manufacturers had to take more cost pressure. It is anticipated that the production will keep stable in the rest months this year, while the profit growth pace might slow down.