As per China's Ministry of Industry and Information Technology (MIIT) report, China's textile industry will maintain steady growth in the year 2014. The report added that a series of fine-tuning of policy measures gradually turned up the growth rate of industrial production in the second half of 2013.
Business conditions have improved and there is a significant increase in market confidence, due to steady rise in industrial economy development, which has laid a good foundation for stable and healthy development of the national economy. However, the production of textile industry was sluggish in 2013. From January to November 2013, China’s textile sector grew by 8.5 per cent year-on-year. The production of yarn, fabric and apparel increased by 8.3 per cent, 5.6 per cent and 0.7 per cent, respectively, which were all lower than the increases in production, registered in 2012.
However, textile export growth was stable. In the first 11 months of 2013, textile industry exports grew by 7.2 per cent, which was about 4.7 per cent higher than the growth rate observed last year. In the first, second and third quarters, China’s textile exports increased by 6.3 percent, 8.5 percent and 6.1 percent, respectively, followed by an increase of 5.9 percent and 8.1 percent in October and November 2013.
