Net Profits Of Major Chinese Textile Firms Grows 7.2% In 2023
Net profits of major Chinese textile companies rose 7.2 percent year on year to Yuan 180.2 billion in the previous year.
“The collective operating revenue of these textile enterprises amounted to Yuan 4.70 trillion in 2023, down 0.8 percent over 2022,” data of the Ministry of Industry and Information Technology informed.
In the previous year, Chinese textile and apparel exports totaled US $293.6 billion, falling by 8.1 percent over 2022.
However, the data informed that the textile and clothing exports turned around in December 2023 and rose 2.6 percent from a year ago quarter to $25.3 billion.
