China imported US$2.69 billion worth of textile machinery in the
first seven months of this year, a growth of 28 percent on the same
period of last year, according to the General Administration of
Customs.
The growth rate was 8.8 percentage points higher than that for
the whole of last year.
Of the total arrivals, foreign-funded companies made up US$1.22
billion worth, or 45.4 percent, private businesses accounted for
US$740 million worth, or 27.6 percent, and state-owned enterprises,
US$590 million worth, or 21.8 percent.
A majority of 78.4 percent of the textile machinery arrivals
came from the European Union and Japan, with the former providing
US$1.26 billion worth, or 46.8 percent, and the latter, US$850
million worth, or 31.6 percent.
Jiangsu, Zhejiang and Guangdong provinces were the top three
importers, accounting for 71 percent of the total arrivals.
Customs sources attributed the fast growth in textile machinery
imports to growing domestic demand for better equipment to used for
production upgrading.
(Xinhua News Agency October 20, 2007)
