Textile Industry Profitable in East China Province
HANGZHOU, February 20 (Xinhua) -- Zhejiang Province, east China,made a net profit of 8.69 billion yuan (1.04 billion U.S. dollars)from its textile industry in 2001.This was 21.52 percent above the previous year and made up 32.3 percent of the national total for 2001, according to the latest statistics. The excellent performance of the province's textile industry has been attributed to technical upgrading.
Statistics show that in 2001, Zhejiang's textile manufacturers spent more than 12.9 billion yuan (1.55 billion U.S. dollars) in upgrading their production skills and the technical level of their equipment. This is 11.53 percent more than during the previous year.
For example, the number of shuttleless looms now exceeds 70,000,or 40 percent of all the province's looms.
Customs statistics show that Zhejiang exported 9.026 billion U.S. dollars-worth of textile products in 2001, a rise of 20.1 percent on yearly basis making it second among all China's provinces, municipalities and autonomous regions.
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