China's textile exports to grow 15% in 2007
Source: CCPIT TEX Date: 2007-01-09
It is reported by Reuters that China's textile exports are set to increase 15 percent this year to reach $161 billion, despite export caps set by Washington and Brussels, Xinhua news agency reported on Wednesday.
The industry would benefit from greater technological sophistication and production capacity, Xinhua quoted Cao Xinyu, deputy director of the China Chamber of Commerce for the Import and Export of Textiles, as saying.
The United States and the European Union separately negotiated growth caps on exports of Chinese textiles after a surge in sales followed the abolition of global quotas and sparked a political outcry. Cao said the agreements had benefitted China.
