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China's textile sales reach a record 407 bln dollars in 2005
In 2005, China's textile sales reached 3.3 trillion yuan (407 bln dollars) surging 115.7 % from 2001, the official Xinhua news agency reported. Apparel exports reached 116 bln dollars in 2005, up 118.9 percent from five years ago, Xinhua said, citing Chi...more
by Textile Intelligence
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In 2005, China's textile sales reached 3.3 trillion yuan (407 bln dollars) surging 115.7 % from 2001, the official Xinhua news agency reported. Apparel exports reached 116 bln dollars in 2005, up 118.9 percent from five years ago, Xinhua said, citing China's key economic planning body, the National Development and Reform Commission (NDRC). China's textile exports surged after the abolition of a global quota system on January 1, 2005. The US and EU have blamed China for flooding their markets with low-cost goods and have imposed curbs on clothing and fabric

imports from China. In September, the EU had to renegotiate the terms of a deal with Beijing to limit Chinese textile imports after quotas originally agreed by the two sides in June rapidly filled, leaving millions of Chinese-made garments stranded at EU customs points. The US and China hammered out a deal which provides for a progressive increase in Chinese imports until 2008 but still caps their growth at far less than that in 2005. Some imports, such as cotton trousers, had surged by more than 1,000 %. China had over 19 million textile workers in 2005 and over 70 percent of them had migrated from the countryside. 



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