Hebei Textile Enterprises Suffered Huge Losses In The First Quarter.
From the information conference of the key industries in Hebei in the first quarter of 2008, it was learned that under the influence of various unfavorable factors, the output and economic benefits of Hebei textile industry decreased significantly in the first quarter.
Since entering 2008, the textile industry of Hebei province is facing an unprecedented grim situation. Due to the subprime mortgage crisis in the United States, the market demand in Europe and the United States has been degraded, and the labor contract law has led to a significant increase in labor cost of labor-intensive industries. In 1~3, the textile enterprises in the province suffered huge losses, and the deficit of loss making enterprises increased by more than 60% over the same period last year.
SRC
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