Textile, Apparel Industry Profits to Surge 35% in 2007

Profits of China's textile and apparel industry will grow 35 percent year-on-year to 112.5 billion yuan (US$14.8 billion) in 2007, China National Textile and Apparel Council (CNTAC) announced on Tuesday.

The CNTAC predicted the total output of the industry would rise 20 percent on last year to 3.02 trillion yuan (US$397.4 billion) this year.

The council predicted that yarn production would rise 20 percent, fabric production would increase 12 percent, chemical fiber up 13 percent and clothing up 14 percent in the second half.

It also forecast foreign sales of textiles and apparel would amount to 170.5 billion yuan (US$22.4 billion) this year, up 16 percent on last year.