China textile export growth dependent on U.S.
The value of China’s textile imports grew more than 20 percent in the first 10 months of 2007, based largely on increasing volumes to the United States.
The loosening of textile quotas has helped China’s exports grow 20.1 percent, Xinhua news agency reported Monday, even as the government tried to rein in runaway export figures through tighter export control measures.
The growth has largely come from textiles exported to the United States, China’s second-biggest textile export market after the European Union. The value of exported textiles to the United States rose 23.3 percent to $21.1 billion, while the value actually went down 0.4 percent to the EU, where China sold $23.3 billion worth of textiles in the first 10 months of last year.
China textile export growth dependent on U.S.
