The China National Textile Industry Council reported that the textile processing volume increased by 19.58% in 2004 from the previous year to 24 million tons. Sales also showed a sharp rise of 22.79% to 2,640 billion yuan.
The significant sales growth is because enterprises endeavored to raise their prices as high cotton prices and the sharp rise in petrochemical materials increased production costs. In addition, efforts were made to upgrade the value and quality of products. Nevertheless, the rise in unit price was still insufficient to entirely cover high material costs, and earnings worsened in real terms.
As for production by item, manmade fibers jumped 20.29% to 14.24 million tons. The increase in polyester filament was sharp, and was a factor causing oversupply sentiments in the international market. Spun yarn rose by 18.54% to 10.94 million tons. While the production share of polyester/cotton blended yarn increased in the first half due to high cotton prices, cotton yarn production grew in the second half as high cotton prices calmed down.
Woven fabric production grew by 18.0% to 4.17 million meters, and that of apparel by 21.0% to 4.18 million units. However, apparel suffered difficulties as intensifying competition in the retail market caused the sales unit price to fall.
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