Despite increasing international trade disputes, China's textile exports may reached to 116 billion US dollars during this year. It is expected to grow 19.21 percent year on year and however this year it is expected to reach US dollars 116 billion.
According to China National Textile and Apparel Council's prediction, China? textile exports are expected to grow 19.21 percent year on year. China's textile export last year totaled 97.3 billion US dollars.
During the first ten months this year, sales revenue and output of large-sized Chinese textile enterprises grew 26.33 and 26.28 percent year on year respectively.
Meanwhile certain Chinese textile products are expected to triple their market share in America over the next few years.
This may happen after last month's US-China textile agreement, which will allow to increase in imports of major textile and apparel products from China -- by 10 to 15 percent in 2006, 12.5 to 16 percent in 2007, and 15 to 17 percent in 2008.
According to the Ministry of Commerce (MOFCOM), the deal will boost the market share of 21 categories of Chinese textile products in the United States.
Their market share will rise to 19.8 per cent by 2008 from 6.7 per cent in 2004.
Chinese cotton shirts are expected to take 7.7 per cent of the market by 2008 from 0.9 per cent in 2004. Cotton trousers will increase to 17 per cent by 2008 from 1.5 per cent in 2004.
The United States and China signed a three-year agreement on textile and apparel trade.
After seven rounds of marathon talks, Chinese Minister of Commerce Bo Xilai and US Trade Representative Rob Portman signed a memorandum of understanding on trade in textile and apparel on November 8 in London.
This memorandum of understanding on trade in textile and apparel will impose quotas on Chinese textile products but clearing a major obstacle to bilateral trade.
According to the agreement between the US and China, increase in imports of major textile and apparel products from China -- by 10 to 15 percent in 2006, 12.5 to 16 percent in 2007, and 15 to 17 percent in 2008.
As part of the agreement, the United States committed to granting customs clearance to all Chinese textile products currently blocked at the American ports. In the meantime, the US also agreed to refrain from limits on textile products not covered by the agreement.
But a total of 21 types of clothing and textiles had been placed under the import restrictions, including cotton trousers.
