According to a survey conducted by a foreign organization, the prices of textile material and yarn increased by 44%-65% shortly from the end of last year to the beginning of this year. The price of acrylic ranks top on the price increasing list with a growth of 80%.
What's more, the price of silk has hit record high of last 15 years.
The price of cotton rises by 70% since November, 2008. Some attribute this growth to the declining production of yarn.
It is undeniable that most textile materials are made from oil. As a result, monopolizing oil enterprises have a big say in price fixing. However, they seldom realize that the surge of material price will lead to the sluggish textile and apparel market. At the same time, profit of related industry will be damaged.
Some experts warn that the China's economy still faces the risk of double dip.
