Monday, April 12, 2021

Major Chinese textile companies will see revenue decline in 2020

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Official data showed that major Chinese textile companies reported lower revenues and profits in 2020.

The revenue of major textile companies shrank 8.8 percent year-on-year to about 4.52 trillion yuan (about 698 billion US dollars) last year, according to data from the Ministry of Industry and Information Technology.

The profits of these companies decreased 6.4 percent to 206.5 billion yuan from the previous year.

The major textile enterprises refer to those with an annual turnover of at least 20 million yuan.

The article, major Chinese textile companies seeing revenue decline in 2020, was written in the Stock Exchange newspaper.

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