The textile sector of China registered stable revenue growth in the first half of 2022, said the official data.
According to the Ministry of Industry and Information Technology, the textile companies with an annual main business income of at least 20 million yuan (about $3 million) raked in 2.52 trillion yuan in revenue in the first six months of 2022, up 5.7% year on year,
During the period, the total added value of these companies rose 0.9% year on year.
Moreover, the combined sales of the main retailers amounted to 8.12 trillion yuan in the January-June period, fetching a 0.8% y-o-y growth, data showed.
During this period, the country’s garment exports amounted to $156.5 billion, registering a growth of 11.7%.
However, the data also showed a 17% year-on-year decline in total profits of these companies and slight drops in yarn, cloth and garment output along with the textile sector’s employment levels also went down mildly.