China’s garment industry reported earnings valued at 688.5 billion yuan (around $102 billion), which is a 4.5 per cent year-on-year increase in the first half of 2022. The total profits reaped by the country’s main 13,000 garment firms added up to 30.7 billion yuan from January-June 2022 — a 4 per cent rise from last year, as per a report by China’s ministry of industry and information technology.
The ministry’s data also revealed that the proportion of garment businesses facing losses had gone down to 27 per cent.
Moreover, exports of garments and accessories from the country went up to 12 per cent, amounting to $80.2 billion.
Post time: Aug-16-2022