Xinjiang Textile Industry Momentum Maintains In Q1 2016

Market News

Xinjiang Textile Industry Momentum Maintains In Q1 2016

Fixed assets investment of textile and apparel industry reached around 31.79 billion yuan in 2015 in Xinjiang, up 231% on the year. Around 382 new textile and apparel companies were set up, employing 97,000 people. In the first quarter of 2016, textile and apparel industry continued to perform well. According to related statistics, fixed assets investment of textile and apparel industry totalled around 2.691 billion yuan in Xinjiang (including 0.568 billion yuan in Xinjiang Corps) in the first quarter of 2016, up 4.54 times compared with the same period of last year. As many as 108 textile projects were attracted to invest, and capital available reached 2.167 billion yuan, up 3.35 times compared with the corresponding period in 2015.

Industrial added value grew by around 29.7%, yarn production increased 61.3%, fabric output rose by 73.2%, and chemical fibre production was up 17.7%. Textiles and apparel exports amounted to 5.44 billion yuan, up 30.9%, textile machinery imports hiked 20 times, and textile and apparel tax rose by 48.8%. By end March, loan balance of textile and apparel in Xinjiang touched 11.29 billion yuan, up 2.14 billion yuan compared with the beginning of 2016, and up 103.3% on annualised basis.