China's garment industry sees lower revenues in 2020

Saturday, 6 February 2021

China's garment industry registered lower profits and revenue in 2020, data from the Ministry of Industry and Information Technology has shown.

Profits of the country's major garment enterprises came in at 64.04 billion yuan (about 9.9 billion US dollars) last year, down 21.3 per cent year on year, the ministry said.

Meanwhile, the combined operating revenue of these companies fell 11.3 per cent from a year ago to 1.37 trillion yuan.

The output of China's garment sector reached 22.37 billion pieces in 2020, down 7.7 per cent year on year, according to the ministry.