China's textiles industry has posted stable revenue growth in the first half of this year, official news agency Xinhua has reported quoting official data.
Industry growth: Textile companies with an annual main business income of at least 20 million yuan (about $3 million) raked in 2.52 trillion yuan in revenue in the first six months of 2022, up 5.7% year-on-year, according to the Ministry of Industry and Information Technology.
- The total added value of these companies rose 0.9% year-on-year during the period.
Retail sales: The combined sales of main retailers amounted to 8.12 trillion yuan in the January-June period, up 0.8% from a year earlier. The country's garment exports amounted to $156.5 billion, an increase of 11.7%.
- The data also showed a 17% year-on-year decline in total profits of these companies and slight drops in yarn, cloth and garment output.
- The textile sector's employment levels also went down "mildly."
