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In 2008 China's textile machinery industry received its first negative growth in industrial output value and sales revenue in nearly 10 years, the downward trend did not change in the first half of 2009.
According to comprehensive business statistics on 1020 state-run enterprises by the China Textile Machinery Equipment Industry Association, the industry completed an industry-wide output value of 21.867 billion Yuan in the first half, down 6.40 percent year-on-year, other economic indicators also declined, Chinese textile machinery industry became the only industry that achieved negative growth among all professional sectors of the textiles industry.
The state launched ??restructuring and revitalization plan of the textile industry?? and tariff adjustment on textiles at the beginning of the year, the measures have increased profitability of textile exports to certain extent and enhanced confidence in development of the textile industry, but policy effects will be visualized later.
Under the influence of global financial crisis and other negative factors, market conditions of domestic and international textiles have not improved in the third quarter of 2009; market demand for textile machinery is still sluggish, which greatly impact production and sales of enterprises.
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