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(From Thai Press Reports)
Section: Regional News - Among all industries in China, textile industry is the first one to feel the hit by Yuan appreciation. Export has kept fuelling growth of China's textile industry in the past. In 2004, exports of China's textile and garment amounted to US$96 billion, up 20% year-on-year and accounting for 30.25% of textile industry's total output value. The 30% export dependence rate has make China's textile industry highly sensitive to Yuan appreciation.
According to the analysis outcome from research institution in China, each 1% appreciation in Yuan value will cause the profit margin of textile industry decline by 2-6%. …