CHINA: Textile Machine Industry Receives Sales Boost In 2000
Statistics from the China Association of Textile Machinery and Appliances have revealed that during the year 2000, the industry attained 13.584bn yuan (US$1.64bn) in sales income and 566m yuan in profits, reports Asia Pulse. Since 1990 the textile machine building industry has experienced a roller coaster ride with sales peaking around the 12bn yuan mark between 1993 and 1994. However, in 1998 the industry had dropped to sales of just 278m yuan, the worst it had seen since 1949. The drop had been blamed on difficulties in operation and a national reduction in spindles.
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