CHINA: January-May Textile Profits Reach $1.15bn
Efficiency improvements, its entry to the WTO, and growth in the domestic garment market pushed China's textile profits to 9.53 billion yuan ($1.15 billion) in the first five months, up seven per cent from the same period last year. And on the basis of current trends, the State Economic and Trade Commission (SETC) yesterday said total profits for the first half could climb 10 per cent to 12.5 billion yuan ($1.51 billion dollars).
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