CHINA: Yarn output to top 15.6 million tons

BEIJING: NDRC released a notification to accelerate the infrastructure reform and the upgrade of the textile sector. A meeting recently convened by NDRC has provided an outlook for 2006 textile production.

Zhang Li, the inspector of the department of economy performance of NDRC, noted that domestic textile industry continue to see a blind overexpansion. For the 10th five year, investment growth for textile industry achieved a 40% annual increase.

Spinning capacity reached 75 mil spindles, a 120% expansion from the year 2000. MMF production rose to 18 mil tons, 13 mil above the level of 2000. For the first quarter of 2006, investment for cotton and spinning industry gained another 41% year on year increase. A survey shows that 35% of the participants assume their expansion as a medium level in China. Due to an increasingly limited resource of raw materials, such an expansion will bring more market risks.

Zhang predicted that Chinese textile industry will maintain a steady and fast development in 2006. This year in the first year for the implementation of the 11th five year plan. In 2006, the he governmental controls will benefit the macroeconomic environment.

The textile industry is expected to enter into a period of comprehensive infrastructural reform and the effect of controls will gradually surface. As a result, the economic performance of the textile industry will sustain a certain expansion in 2006 but the growth will be somewhat lower. It is projected that the production value of the textile enterprises (annual revenue above 5 mil RMB) will reach 2.4 trillion yuan in 2006, an increase of 20% from 2005. MMF production is estimated to reach 18 mil tons, 10% above 2005.

Yarn production is pegged at 15.6 mil tons, a surge of 8% from year ago level. The profit of textile production will exceed 70 bil yuan. Export value is forecast at 130 bil USD, 12% higher than 2005.

Chinese Yarn Import / Export from Jan-March '06
Yarn Imports
Yarn Exports

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Added: June 6, 2006 Source: CN Cotton
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