The textile industry of China witnessed a strong expansion in 2021 as its revenue and profits recorded a double-digit growth, according to the Ministry of Industry and Information Technology (MIIT). Textile firms with annual operating revenue of 20 mn yuan ($3.16 mn) and above recorded profits of 267.7 bn yuan in 2021, up 25.4 percent year on year (YoY).
The total operating revenue of the firms increased by 12.3 percent YoY to reach 5.17 trillion yuan in 2021, as per official data. Additionally, China’s garment exports grew 8.4 percent YoY to reach a record high of $315.5 bn in 2021.
