BEIJING: China struck a positive note yesterday about the chances of a deal with the United States over its surging textile exports even as the European Union wrestled with proposals to unblock 80 million Chinese garments piling up at EU customs posts. A wave of textile exports since the abolition of global quotas on January 1 has underlined China's prowess as the world's cheapest mass manufacturer and sent politicians on both sides of the Atlantic scrambling to placate endangered domestic pro

Largest integrated energy and chemical companies, China Petroleum & Chemical Corporation (Sinopec Corp) announced its financial results for the first half of fiscal year 2005. Under IFRS, the turnover and other operating revenues of the Company totaled RMB 368.45 billion (US$44.50 billion), an increase of 31.85% over the first half of 2004. Profit attributable to equity holders of the parent amounted to RMB 19.65 billion (US$2.37 billion), an increase of 17.36% over the first half of 200

Czech statistical office presented the retails sales results for June 2005.Seasonally adjusted retail sales (CZ-NACE 52) grew by 0.1% m-o-m at constant prices. The trend component rose by approx. 0.2% m-o-m, its growth remained roughly at the level of May.Not seasonally adjusted sales at constant prices have been increasing y-o-y for last nineteen months, and the growth in June reached the same level as the average for last 12 months (3.0%). Sales of non-food goods were up by 3.5% and of food, b

LONDON -- The European Union (EU) Trade Commissioner Peter Mandelson said on Sunday that he will on Monday propose to end a trade dispute which has stopped millions of items of Chinese clothing from entering Europe. "I'm making proposals, the Commission is making proposals to our member states... to begin the proceedings to unblock all the goods currently held at customs," Mandelson said in an interview with the BBC News 24. "And if they cooperate I believe that we will be able to unblock all th

China and the United States will kick off the fourth round of talks over the overheating textile disputes in Beijing on August 30 and 31, China's Ministry of Commerce (MOFCOM) said over the weekend. It will be held just before the US Government is due to make a decision on whether to impose new caps on additional Chinese textile products at the end of this month. The previous three rounds of Sino-US textile consultations failed to solve disputes between the two countries. The ministry said in a

According to the National Bureau of Statistics, in July the fabric output increase rapidly and steadily. The monthly fabric output was 3,150 million meters and the output from Jan. to July was 20.388 bil-lion meters, surging 19.36% year on year. The cotton fabric of Jan. to July was 10.787 billion me-ters, climbing 25.52% on the previous year. The cotton fabric output accounts for 53% of the total fabric output. Shanghai and Jiangsu are the biggest weaving provinces. From Jan. to July, Shangdong

Weaving machine maker Sultex Limited is going to participate at ITMA ASIA 2005.At the second ITMA Asia, to be held in Singapore from 17 to 21 October 2005, Sultex will be exhibiting a representative selection from its comprehensive product portfolio ?two Sulzer Textil P7300HP projectile weaving machines and one Sulzer Textil G6500 rapier weaving machine. Sultex is participating in the world? most important textile machinery trade fair to present advanced solutions for the weaving facilities of t

Australian Wool Innovation Limited announced that textile and fashion designers of the future from Italy, China and Australia are spending week learning about the qualities and properties of Australian Merino wool, as part of efforts by Australian Wool Innovation Limited (AWI) to build relationships that will increase demand in the future.The 2005 Wool Study Tour students are travelling through Victoria and New South Wales, following the wool pipeline from farm to fabric. The group is a mix of n

China has stopped issuing permits for certain textile products exported to the European Union (EU), an official with the foreign trade department of China's Ministry of Commerce (MOFCOM) said over the weekend. "The move is to prevent enterprises from suffering further losses (for products being blocked at the EU customs)," he said adding the ministry was calculating the quotas left over in the agreement reached with the EU. Women's blouses last week hit the ceiling following sweaters and trouser

Sinopec Shanghai Petrochemical Company Limited announced the unaudited interim results of the Company and its subsidiaries (the Group) for the six-month periods ended June 30, 2005 (the Period). Under the International Financial Reporting Standards, turnover for the Period increased by 23.11 percent over the corresponding period last year to approximately RMB21.886 billion; profit before tax was RMB2.158 billion, an increase of 18.57 percent over the corresponding period last year; profit attrib