国产人人色I色婷婷综合久久中文字幕雪峰I奇米色777欧美一区二区I久热久热aV爽青青在线I国产av喷水I国产伦精品一区二区三区免.费I高潮av在线Iww欧美一级I91天天看I黄a在线91I九一无码中文字幕久久无码色…I丰满国产精品视频二区

   

Half of cotton firms want to quit amid rising costs

(Xinhua)
Updated: 2008-04-02 15:11

BEIJING  -- Rising costs and an appreciation of the yuan currency are squeezing Chinese cotton textile companies, making nearly half of them wanting to quit, a new industry survey reveals.

The survey, conducted by the China Cotton Textile Association, covered cotton textile companies in 17 provinces. In total, 49.2 percent of the companies surveyed said they wanted to quit and restart in other businesses.

About 27.3 percent said the pressure they felt from the yuan appreciation had become unbearable, while 44.4 percent started selling some export-oriented products on the domestic market.

The companies also cut investment in cotton textiles by an average of 15.5 percent last year because of the yuan appreciation, lowered tax rebates and soaring costs in both labor and raw materials.

The companies said they made more investment in the real estate sector, equity markets and other businesses.

A recent survey by the China National Textile and Apparel Council showed the industry's profit margins averaged 3.9 percent last year. Two-thirds of the companies surveyed reported an average profit margin of only 0.62 percent.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours