According to the National Bureau of Statistics, in the first two months of 2020, China’s value-added industrial output above designated size actually decreased by 13.5% year-on-year (the growth rate hereinafter refers to price-adjusted actual growth rate). It declined 26.63% from the previous month. Industrial output, officially called industrial value added, is used to measure the activity of certain large enterprises with an annual turnover of at least CNY 20 million (about US$ 2.9 million). By region, in January-February, the value-added industrial output decreased 16.9% year-on-year in eastern regions, 16.7% in the central regions, 7.6% in the western regions and 11.5% in the northeast. By product, in the first two months, the production of 79 out of 612 kinds of products increased year-on-year. And the sales-output ratio of industrial enterprises was 97.4%, 0.7 percentage points lower than the same period of last year.

In January-February period, the manufacturing output decreased by 15.7% year-on-year. And the textile industry’s value-added output declined by 27.2%. In the output of main products, the output of fabric dropped by 36% year-on-year to 4.2 billion meters in January-February, while the output of chemical fibers fell by 13.6% to 7.27 million tons.

Source: CHINA TEXTILE LEADER Express