China'S Textile And Apparel Exports Reached US $171 Billion 170 Million In 2007.
In 2007, China launched a series of policies, including high-quality cotton subsidies and policy insurance. According to the 11th Five-Year plan (2006-2010), China plans to invest 750 million yuan in the Xinjiang Uygur Autonomous Region to build high-quality cotton production bases. These plans have raised the enthusiasm of farmers to grow cotton flowers. The National Bureau statistics show that China's total cotton planting area in 2007 reached 5 million 590 thousand hectares, an increase of 3.3% over the past year. Cotton production reached 7 million 600 thousand tons in that year, and the annual increase was 12.6%.
In 2007, China imported 2 million 460 thousand tons of cotton, an annual reduction of 32.5%, mainly for the following three reasons:
1) cotton production increased.
2) the growth of China's textile and clothing exports has slowed down. In 2007, China's textile and apparel exports amounted to US $171 billion 170 million.
3) the price of imported cotton is rising. In 2007, the average price of China's imports of cotton was 1415 US dollars per ton, an annual increase of 5.6%, which was mainly impacted by some factors, including the abolition of cotton export subsidies by the United States, the expected reduction in cotton production in the global market and the sharp rise in global agricultural prices.
According to the statistics of China's National Bureau of statistics, in 2007, China's spinning production reached above 19 million 940 thousand tons, with an annual increase of 14.6%, or an increase of 2 million 540 thousand tons, with a scale of over 5 million yuan. According to the cotton spinning process rate calculated by 55% (the lowest rate in the industry), cotton consumption in China may be 10 million 960 thousand tons, and the gap may be 1 million tons.
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