Industrial Value-added of China’s Textile Industry down 2.5% in August

According to the National Bureau of Statistics, in August, China’s value-added industrial output above designated size actually increased by 5.3% year-on-year (the growth rate hereinafter refers to price-adjusted actual growth rate), increased by 11.2% compared with that of 2019. The two-year average growth reached 5.4%. It edged up 0.31% from the previous month. And it rose by 13.1% in January-August. The two-year average growth was 6.6%.

Industrial output, officially called industrial value added, is used to measure the activity of certain large enterprises with annual turnover of at least CNY 20 million (about US$ 2.9 million).

The manufacturing output increased by 5.5% year-on-year in August and 14.0% in January- August period. In August, the textile industry’s value-added output declined by 2.5%, while it increased by 5.2% in January-August period. By product, in the first eight months, the production of 323 out of 612 kinds of products increased year-on-year. In the output of main products, the output of fabric rose 4.0% year-on-year to 3.4 billion meters in August and increased by 11.8% to 25.3 billion meters in January-August period, while the output of chemical fibers grew 9.2% to 5.86 million tons in August and rose 15.6% to 45.20 million tons in January-August.

And the sales-output ratio of industrial enterprises was 97.8%, down 0.4 percentage points year-on-year.

Source: CHINA TEXTILE LEADER Express