BEIJING, Aug. 9 (Xinhua) -- China's major textile companies reported lower revenues and profits in the first half of this year, official data showed.
Revenues of major textile companies shrank 16.4 percent year on year to 1.93 trillion yuan (about 278.07 billion U.S. dollars) from January to June, according to data by the Ministry of Industry and Information Technology.
Profits of these companies dropped 19 percent from a year earlier to 73.1 billion yuan.
Value-added output of the enterprises went down 6.7 percent year on year, narrowing 9.8 percentage points from the pace of decline in the first quarter, data showed.
However, the industrial textiles sector saw robust growth of 57.8 percent in value-added output with a surge in demand for COVID-19 prevention and control supplies in the first half.
Major textile companies include those with an annual turnover of at least 20 million yuan. Enditem
