In the first three months of this year, China's chemical fiber production was up 6.87 per cent year-on-year. Imports of chemical fibers were up 11.44 per cent year-on-year and exports were up 2.96 per cent.

Earnings of the chemical fiber industry were up 84.68 per cent, the fastest growth among all sectors of the textile industry. In this period, the profit rate of prime business revenue stood at 5.22 per cent, improving 1.97 percentage points over the same period of last year.

In the first quarter of this year, China’s chemical fiber industry saw improved operating quality and profitability while investment rebounded. Influenced by fluctuation of oil price, the prices of main chemical fibers first rose, then declined, with the average price higher than that in the same period of last year, but still in a downward trend.

China’s chemical fiber industry accounts for 70 per cent of global production. The industry covers a range of products from conventional chemical fiber to high-performance chemical fiber to bio-based chemical fiber. Chemical fiber is an important basic raw material industry, involving aerospace, defense, automobile, health and other industries.

Turkey, the United States and Pakistan are the main buyers of China’s chemical fiber.