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| Above 7.5 Mln Textile Workers In Job Insecurity Due to Financial Crisis |
The China Textile Industry Association released its " Annual report of social responsibility of China's textile and garment industry from 2008 to 2009" on June 29 in Beijing, the report says that above scale textile enterprises in China have been hardly hit by this round of financial crisis, widespread losses of the enterprises have caused more than 7.50 million textile workers in the state of job insecurity.
This is the third annual report on corporate social responsibility released by the China Textile Industry Association. China's textile enterprises create more than 20 million direct jobs, which are indirectly relating to the livelihood of 100 million people.
Business environment of China's textile enterprises has been deteriorating since 2008,industry profits rapidly decline. The industry for the first time saw a negative growth since 2003, in January to February 2009 alone, the number of loss-making textile enterprises (above-scale) reached 12,644, an increase of a 13.54 percent year-on-year, loss coverage was as high as 25.17 percent.
According to the report, as of November 2008, shrinking situation of the industry employment became quite obvious, employment of large-scale enterprises fell by 1.24 percent year-on-year, loss-making enterprises (above scale) involved employment of more than 7.5 million people, this figure does not include small and medium-sized textile enterprises that have been even more seriously hit, thus, leading to a great employment pressure on practitioners within the textile industry.
According to the latest data, China's textile industry showed improvement over the first quarter, but the industry still stays at the bottom. From January to May this year, exports of textile products declined 1.42 percent year-on-year, while the drop in the first two months was as high as 17.18 percent, employees in large-scale enterprises decreased by 225,000 people compared with the end of November 2008.
But the financial crisis also promotes the upgrading of the textile industry, pushes the adjustment of its industrial chain, enhances product value for the industry to gain more profits. |
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