Textile companies in China see decline in international orders as COVID19 rages globally
"It will be a tough year for the textile industry," Hu Qinhua, owner of Shaoxing Hongyutong textile company told the Global Times Wednesday. As the COVID-19 pandemic rages overseas, some textile companies in China are suffering a continuing economic loss on foreign trades following the impact of the domestic outbreak.
Hus company is located in the China Light & Textile Industrial City in Keqiao of East Chinas Zhejiang Province. As the largest textile distribution center in Asia, the textile city achieved a turnover of 252.689 billion yuan on its online and offline markets in 2019.
But the 2020 prospects are hazy due to the COVID-19 pandemic. According to a recent industry survey, over 78 percent of textile companies in the city feel they are losing orders, and about 65 percent said their customers have canceled orders.
Last Update 2020-03-31