China reins in rapid growth of textile export
China's exports of textiles, clothing and accessories in January grew 18.55 per cent year-on-year, but the growth rate was much lower than in previous months.
By TNN |
BEIJING: China's exports of textiles, clothing and accessories in January grew 18.55 per cent year-on-year, but the growth rate was much lower than in previous months.
It was 12.3 percentage points lower than the growth rate in November, 12.2 percentage points lower than that in December and 6.7 percentage points lower than that of last year, statistics from the General Administration of Customs said.
China's textile exports reached $4 billion in January, up 11.6 per cent year-on-year. Clothing and accessories exports totalled $8.14 billion, up 22.3 per cent. Chinese textile and clothing companies enjoyed sustained rapid export growth following its accession to the World Trade Organisation (WTO) in 2001, Xinhua news agency reported.
However, Chinese textile and clothing exports have encountered criticism from the key markets of Europe, the United States and even some African countries. The US government filed a complaint with the WTO in early February, alleging that China is using export subsidies to help its companies, including those in the clothing sector, to compete in world markets.
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