US and EU take bulk of China’s textile exports

CHINA’S TEXTILE industry achieved an estimated 20% rise in revenue, profits and exports in 2005 despite trade rows with the US and the EU, according to a report from the China Chamber of Commerce for Import and Export of Textiles. A report by Just Style reveals that sales revenue for the year totalled US$250bn. The chamber said the increases had been driven by investment in fixed assets and technological innovations. Combined exports to the US and the EU leapt 62.7% during the first ten months of the year, making up 34.09% of all Chinese exports, statistics said.