The overseas market for textile and garment is going to shrink this year. The situation is grim for export companies. With the relative domestic demand extending policies released by the government, the domestic market is expecting to remain stable development and make further contribution to the growth of China textile idnustry. The statistics-worth textile enterprises (whoes annul outturn beyond five million yuan) reported their domestic sales proportion increased from 67% in 2000 to 77% last year.
According to Gao Yong, the Vice President of CNTAC, textile industry is the first one suffured from the financial crisis. After the Spring Festival, the chemical fiber market witnessed some rebound. If this trend continues till April, the chemical fiber industry will get through the valley. Referring to the home textile, no matter domestic or overseas, the market is persperous. Thus, the related machinery manufacturing industry is expected to revive. Since the government is investing lots of money on the infrastructure project, the relative industrial texitle is also going to revive.
