In the first half of 2014, the profits of the textile industry increased by 11.8% year-on-year

In the first half of 2014, the gross profit of textile enterprises above designated size nationwide was 147.76 billion yuan, a year-on-year increase of 11.8%. The profit rate of corporate sales was 4.8%, 0.2% higher than the same period of last year, and profitability was improved. It is expected that in the second half of the year, the growth rate of indicators such as production, sales and exports will also increase.

This reporter learned from the press conference on the economic situation of the textile industry in the first half of the year held by the China Textile Industry Federation on the 15th.

In the face of sluggish domestic sales, rising comprehensive costs, and widening domestic and overseas cotton price gaps, China’s textile industry performed smoothly in the first half of the year, and the company’s main business revenue reached 311.385 billion yuan, an increase of 8.5% year-on-year. 0.2% in the quarter. A total of US$136.39 billion was exported to textiles and clothing, which was a 4.2% year-on-year increase and a 3.7 percentage point increase from the first quarter. In addition, the profitability of the company has been improved and industry restructuring has achieved results.

Gao Yong, deputy chairman of the China Textile Industry Federation, said that among the many factors, the impact of cotton prices on the industry is still at the forefront. As of August, the cotton used by domestic enterprises for production was all from the state reserve cotton. Due to the rapid downturn in international cotton prices, the difference between China's reserve cotton and international cotton prices has once again widened. In August, the spread was more than 5,500 yuan per ton. In addition to the high prices, the quality of the State Reserve Cotton is still outstanding, leading to the difficulty of meeting the demand for cotton used by enterprises, and the production costs have risen sharply. These issues will continue to affect the textile industry in the second half of the year.