China’s consumer goods industry has witnessed substantial growth over the past 10 years with the sector’s profits and operating revenues jumping by 64.5 per cent and 35 per cent during the period, respectively.
China’s exports of light industry and textile products have exceeded 30 per cent of the world’s total, according to an official of China’s ministry of industry and information technology. China’s consumer goods industry has witnessed its profits and operating revenues jump by 64.5 per cent and 35 per cent over the past decade, respectively.
“The added value of the industry accounts for 27.9 per cent of all industrial sectors,” He Yaqiong, head of the ministry’s department of consumer goods industry, was quoted as saying by various Chinese media reports.
He emphasised that the consumer goods industry was among China’s long-standing advantages and that it played a crucial role in enhancing people’s wellbeing, pushing the economy, developing exports, and generating employment.
“Looking forward, efforts will be made to promote the sector’s digital and green transition to better satisfy consumers’ varied demands and reinforce its competitive edge,” added He.
Fibre2Fashion News Desk (NB)