China's textile products losing competitiveness - state media |
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Published
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Fri, 09 Feb 2007 06:20
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BEIJING (XFN-ASIA) - Textile products from China are losing competitiveness as export tax rebates are reduced and the yuan rises, the Beijing Morning Post reported.It cited a statement from the National Development and Reform Commission as saying the whole industry will lose strength in overseas markets if the yuan rises too much,.A growing number of anti-dumping cases against Chinese textiles filed by trading partners also makes conditions tougher for the industry, the statement said.It said the average profit margin of the textile sector was now under 3.7 pct, or about two thirds of the average national industrial profit margin.Profits in the industry meanwhile totaled 88.3 bln yuan in 2006, the statement said.afp
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China's Hu, Wen urge greater financial reform 