China's textile industry has set a record by importing
Source: CCPIT TEX Date: 2006-09-30
China's textile industry has set a record by importing three million tonnes of cotton during the first eight months of the year.
As of August, China imported 3.03 million tonnes of cotton, up from the 2.57 million tonnes that were imported in all of last year, vice minister in charge of the National Development and Reform Commission (NDRC), Bi Jingquan said.
China's cotton producers supply almost two thirds of the country's needs. Last year, China produced 5.7 million tonnes of cotton and the NDRC predicts that figure will grow 10.5 per cent.
This year 13.02 million acres have been planted to cotton, an increase of 494,200 acres, according to data of the National Bureau of Statistics.
China's cotton imports have been on rise since 2002. The NDRC says in 2002 China imported only 180,000 tonnes. The rapid rise in imports started after China entered the World Trade Organisation in 2001 and the quotas on textiles were abolished last year, Bi was quoted as saying by Xinhua news agency.
The industry exported 115 billion U.S. Dollars worth of textiles last year, up 20.6 per cent over 2004.
The NDRC, says the country needs to adopt measures to support domestic cotton production to avoid big price fluctuations.
