The output value of China's textile industry increased 29% year-on-year in the first three quarters

In the first three quarters of this year, the output value of China's textile industry increased by 29% year-on-year to 3.9558 trillion yuan ($523 billion), the Ministry of Industry and Information Technology said on Friday.

This growth rate is 1 percentage point lower than the growth rate in the first half of this year, according to the statement of the Ministry of Industry and Information Technology website.

Among the major products, in the first three quarters of this year, yarn production reached 20.95 million tons, an increase of 11.3% year-on-year; cotton and apparel production increased by 13.3% and 9.5% year-on-year, reaching 44.9 billion meters and 183 respectively. Billion pieces.

In the first eight months of this year, the profits of large-scale textile companies totaled 167 billion yuan, up 36.4% year-on-year, the statement from the Ministry of Industry and Information Technology said.

In the first nine months of this year, the total export value of China's textile and clothing companies reached US$186.1 billion, an increase of 24.3% year-on-year.

The Ministry of Industry and Information Technology hopes that the domestic market demand will maintain a relatively rapid growth, because the cotton price is stable. In addition, the declining demand in the international market will affect exports, and the growth of the textile and clothing industry will be similar to last year.