China’s fixed asset investment in the textile and apparel industry is continuing to expand. January through April 2007 cumulative investment has reached 51.03 billion yuan (over 6.65 billion U.S. dollars), which represented 28.0 percent year-on-year growth. What makes this investment level even more impressive is that the growth came on top of last year’s record levels of 39.86 billion yuan during the same period. 34.09 billion yuan of the 2007 investment occurred in textiles and 16.94 billion yuan in the apparel, footwear and headwear industries. The investment in the apparel groups is showing 37.7 percent year-on-year growth.
The rate of growth has major ramifications for the future development in cotton consumption, which is now likely to make strong gains through 2008.
source: globecotnews
