Financial Crisis Has Led To Blocked Exports Of Chinese Textile Products.

China's textile and clothing exports have been blocked by the recession of foreign market demand caused by the world financial crisis. The latest authoritative statistics show that China's textile and clothing exports increased by only five point nine percent in October compared with the same period last year, down thirteen point eight four percentage points from the same period last year, the lowest in nearly six years.

According to the reaction of textile enterprises, the orders in the first half of next year are basically lined up, but many enterprises' orders are not yet available.

Reporters today learned from the China Textile Industry Association that the current difficulties in the textile industry were mainly due to the fact that the financial crisis was the most serious after the Great Depression of the last century, and it had a huge impact on the economies of the world.

Because now is the era of globalization, the interdependence between countries is becoming more and more closely related, and the economic recession in developed countries will have a far-reaching impact on developing countries.

Du Yuzhou, President of China Textile Industry Association, said that as the biggest textile producing and processing power, the impact of China's textile economy is also enormous.

From the domestic market, although the overall situation is fairly healthy, it has also been greatly affected.

The depression of the market is bound to put great pressure on the textile enterprises.

At the same time, for enterprises, the pressure not only exists, but also other factors, such as the impact of exchange rate changes, the increase of labor costs, and the rise of raw materials and energy prices, which make the whole industry in a more difficult period.

At present, 2/3 of enterprises in the industry are losing money or losing money, and the problems such as tight funds and backlog of products are more serious.

Du Yuzhou stressed that although most enterprises encountered difficulties, 1/3 of Chinese textile enterprises still maintained better development.

In view of its solid industrial foundation and huge market, and now with timely and effective policy support, he believes that China's textile industry will be able to tide over the difficulties.

Yang Jing: editor in charge