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Chinese units see their profits rise

From January to September, profits in China’s industrial enterprises above a designated size saw a year-on-year rise of 14.7 per cent. Textile industry profits were up 2.7 per cent year-on-year. Profit of the garment and accessories sector saw year-on-year growth of eight per cent.

From January to September, the main business income of China’s industrial enterprises above a designated size increased by 9.4 per cent compared with the same period of the previous year. Their main business cost saw a year-on-year rise of 9.1 per cent. Their profit margin was 6.44 per cent.

While China remains the world’s largest apparel exporter, its market shares measured by value fell from 38.6 per cent in 2015 to 33.7 per cent in 2017. Its market shares in the world’s top three largest apparel import markets, the United States, EU, and Japan, also indicate a clear downward trend in the past five years.

However, China is playing an increasingly important role as a textile supplier for apparel-exporting countries in Asia. For example, measured by value, 47 per cent of Bangladesh’s textile imports came from China in 2017, up from 39 per cent in 2005. Similar trends can be seen in Cambodia, Vietnam, Pakistan, Malaysia, Indonesia, Philippines and Sri Lanka over the same time frame.