Vice minister of commerce Gao Hucheng said at the Dalian International Garment Textile Fair on the 9th March, “Textile trade has entered a period of steady, rapid and healthy development. At present, China has a normal growth in textile exports. Under the background of international trade, country will continue to maintain an annual growth rate of 20-30 percent. China will readjust export tax rebate rate in accordance with market conditions.”

China is the world’s major country in textile production, consumption and exports, textile production accounts for one third of global output. China’s textile exports in 2006 reached US $144 billion, an increase of 25.2 percent, and imports amounted to $18.1 billion, rising 5.6 percent.

Per capita labor productivity of Chinese textile industry in 2006 increased 17.5 percent on year-on-year basis; export price gained 10.14 percent over the previous year.

Gao Hucheng reckoned that the growth momentum of China’s trade surplus in the first quarter would be slowed down from the first two months.