Authorities Say It Remains To Be Seen When China'S Textile Industry Will Reach Its Bottom.

Faced with the plight of China's textile industry and textile machinery industry, Gao Yong, vice president of the China Textile Industry Association, today admits: "when will China's textile industry reach its bottom?"

In this ceremony, the China Textile Industry Association held the title of "China Textile Machinery famous city" to Jinzhong, Shanxi (Yuci).

According to Gao Yong, China's textile production accounts for half of the world's total output and exports to 1/4 of the world's total.

The annual output of China's textile machinery is sixty billion yuan, and has become an important base for the world's textile machinery.

However, influenced by the world and domestic economic environment, China's textile industry is showing signs of slowing down. Gao Yong also believes that the "sharp decline" will appear in the second half of this year, and when to reach the bottom of the valley remains to be seen.

The enormous test that the textile industry is facing has a direct impact on the textile machinery market.

According to the statistics released by the China Textile Industry Association, as of the end of May this year, the total profit of China's textile machinery and equipment industry dropped by nearly 19% compared with the same period last year, with one hundred and ninety-eight loss making enterprises and twenty point five percent loss making. From January to May this year, the export of Chinese textile equipment decreased by thirty-one point six three percentage points from the same period last year, and the export volume of the first export large market in India dropped by more than 30% over the same period last year.