A survey of 186 textile machinery manufacturing firms carried out by The China Association of Textile Machinery and Appliances has found that sales for the year 2000 reached a record high $1.64bn, with a net profit of $68m. According to data published on yarnsandfibers.com, China's textile machinery manufacturing industry reached a sales peak in 1993-4 of $1.45bn. Since then, the situation has been far from positive due to operational difficulties and a national shortage of spinning spindles. The sector suffered a $33.6m loss in 1998.