China's textile industry produced 4.8 million tons of cotton yarn in the first nine months of this year and the total annual output is expected to reach 6.5 million tons, Asia Pulse reported today. The planned target is 5.57 million tons.

The annual target for chemical fibre was met in the first nine months of this year and the annual total is expected to reach 6.8 million tons.

Exports may reach $53bn in 2000, just short of the annual target of $55bn.

The textile industry expects to generate 25bn yuan ($3.02bn) profits this year, with 5bn yuan from state-owned firms. It ended six consecutive years of loss in 1999 and expects sharp profit growth this year.