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China's cabinet announces three-year stimulus plan for textile sector
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19:29, April 24, 2009

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China's State Council, or cabinet, Friday unveiled a detailed, three-year support plan for the textile industry.

The Council said the plan was intended to ensure stable development in the industry and upgrade its structure.

The plan said the annual production of large textile enterprises (with annual revenue of more than 5 million yuan or 732,000 U.S dollars) was expected to rise to 1.2 trillion yuan by 2011 from 850 billion yuan in 2008.

Since January, China has announced stimulus plans for 10 industries, including vehicles, steel, shipbuilding, textiles, machinery, electronics and information technology.

Source: Xinhua



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