Revenues and profits of China’s garment enterprises reported stable increases in in the first half of the year, shows official data from the Ministry of Industry and Information Technology.
As per a Macau Business report, the combined revenue of around 13,000 main garment enterprises surged by 4.5 percent year on year to 688.5 billion yuan (about $102 billion), in the first six months of the year.
The companies’ profits rose by 4 per cent to 30.7 billion yuan during the January-June period, from a year ago. The proportion of loss-making enterprises in the sector declined by 0.9 percentage points to 27 per cent.
Meanwhile, their combined output edged down 1.5 per cent Y-o-Y to 11.3 billion pieces. The exports of garments and accessories rose by 12 per cent to $80.2 billion.