Situation Still Grim, Company Confidence Return
Analysis for Entrepreneur Questionaire
To better understand the current situation of China textile industry and the enterprises demand, China Textile Entrepreneur Association joined hands with China Textile Statistics Center to make a questionaire survey on the executives of textile mills and manufacturers at the end of Dec. 2008. More than 100 questionaries were returned by the end of Jan. 2009. 123 of them were reviewed and analyzed. Here below is the key points:
Situtation is still grim
The survey reveals that the company profit in 2008 plunged. The company profits in the survey dropped 87.14% to the previous year, while prime operating profits dropped 92.35%. Referring to the confidence, 27.9% of the entreprenuers mentioned bad operation situation in their companies in 2008 and 46% believe the situation is going to worsen in 2009.
This grim situation could be refected in the production statistics of mid & large textile companies (whose turnover beyond five milion yuan per year) of 2008. The accumulated production value of textile industry of the state in 2008 were 3478 billion yuan, up 13.73% to previous year, but the growth rate decreased 8.84 points.
Regarding the profit, the mid & large companies realized profit 104.2 bilion yuan in the first 11 months, down 1.77%. Two thirdth of them were in the red or close to be in red. For those companies, the deficit value were 22.75 billion yuan, up 99.85%.
There are still uncertain factors to effect the textile industry in 2009. The international financial crisis is extending. External demand is shrinking. And the trade protectionism is growing.
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