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China to export US$100b of textiles in 2005
(Xinhua)
Updated: 2005-04-16 09:26

China will export US$100 billion of textiles in 2005, US$5 billion more than in 2004, said a document issued by the Ministry of Commerce (MOC) in Guangzhou, capital of South China's Guangdong Province Friday.

The white paper that the ministry released yesterday analyzes the domestic and overseas trade environment of China's textiles.

According to the white paper, China's textile industry will face the following problems in 2005: The United States and the European Union will further restrict China's exports, malignant competition tends to spread in domestic market and China still suffers from shortages of power and energy supply.

However, it says, though difficulties remain, as the international market still needs China's textile and clothing, exports will grow steadily.

Lu Jianhua, director of the MOC's foreign trade sector, said the ministry is researching on setting more regulations to prevent the orderless competition among textile producers.

Cao Xinyu, vice-chairman of China Textile Import and Export Chamber, said that according to the survey that the chamber made, most companies hopes the government issues such regulations for a better market order.

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