Data shows that in the first five months of this year, nearly 30 percent of enterprises in China’s textile industry operated at a loss, and the total profit of enterprises decreased by nearly 20 percent compared with the same period last year.
According to data released by China National Textile and Apparel Council this month, from January to May this year, nearly 27 percent of China’s textile enterprises above a designated size suffered losses, down 6 percent than the same period last year; the total profit of the enterprises was 73.4 billion yuan (about $11 billion), showing a year-on-year decrease of nearly 20 percent.
