China's textile output growth slows in Jan-Nov

BEIJING - Growth of China's textile industry slowed in the first 11 months of 2011, with textile enterprises posting a combined industrial output value of 4.95 trillion yuan ($785.6 billion) in the period, according to latest statistics from the country's top economic planner.

The National Development and Reform Commission (NDRC) said in a report on its website that the annual growth rate in the January-November period of 2011 stood at 27.5 percent, which was 2.5 percentage points lower than that in the first half of last year.

Profits of textile enterprises rose 29 percent year-on-year to reach 215.56 billion yuan in the first 10 months of 2011, with an average profit margin of 5 percent.

The growth rate of profits was 12.3 percentage points lower than those in the first half of last year, according to the NDRC.

China's statistical pool of the industry covers 35,900 large textile enterprises where business revenues reach 20 million yuan or above.