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China’s Technical Textile Industry Reports Drastic Profit Increase

2020/7/29

China’s technical textile industry has witnessed a significant increase in production, sales, profits and exports during the first five months of the year, due to soaring demand caused by the COVID-19 epidemic, official data showed.


Profits of technical textile companies with annual revenues of more than CNY 20 million (about US$ 2.86 million) skyrocketed 189.08 percent year on year to CNY 12.69 billion from January to May, according to data from the Ministry of Industry and Information Technology.


Their revenues jumped 13.25 percent from a year ago to CNY 103.92 billion.


During the first five months, China exported US$ 34.29 billion worth of technical textiles, including US$ 22.56 billion of masks and US$ 2.19 billion of protective clothing. (Xinhua)


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