Chemical Fiber Industry ................................................................................................13
Chapter One: Classification of chemical fiber products.....................................................13
1.1 Definition of chemical fiber .........13
1.2 Classification of chemical fiber industry and products .........13
Chapter Two: Economic operation of chemical fiber in 2006 .....14
2.1 Chemical fiber industry maintains good momentum of development ...14
2.2 Profitability of chemical fiber industry gets improved ....15
2.3 The industry presents favorable sales ratio and healthy operation of funds .15
2.4 The industry shows stronger ability of short-term payment and liquidity ...16
2.5 Exports of textiles and apparels made of chemical fiber undergo rapid increase and the imports also grow slightly.........16
2.6 Fixed assets investment in chemical fiber industry rallies notably ...17
2.7 Concentration level of the industry is enhanced further .....18

Chapter Three: Characteristics of chemical fiber industry in China ....19
3.1 As the largest chemical fiber producer, China’s output takes up 51% of world total in 2006.........19
3.2 Polyester fiber industry presents fast growth .....19
3.3 The industry is sophisticated and monopolistic .....20
3.4 Products of the industry are substitutional and complementary ....21
3.4.1 Chemical fiber can be adopted as a substitute for natural fiber ...21
3.4.2 The complementary relationship between chemical fiber and natural fiber.21
3.4.3 Substitution between different synthetic fiber .....22
3.5 Integrity of the industry is low and the import dependency of feedstocks lowers moderately in 2006 .........22
3.6 Demand of the industry fluctuate greatly........23
3.7 Frequent trade frictions are reported ........23
3.8 Import duty for chemical fiber is much lower than the raw materials ...24
3.9 Seasonal features of sales and procurement of the industry ..24
3.9.1 Seasonal features of the sales ......24
3.9.2 Seasonal features of the procurement .....24

Polyester Fiber.........25
Chapter One: Industry overview.........25
1.1 Characteristics of the industry........ 25
1.2 Production process of polyester fiber.........25

Chapter Two: Polyester fiber market review in 2006........26
2.1 World oil market review.......26
2.2 PX market review.............29
2.3 PTA market review..........31
2.4 MEG market review.......35
2.5 Semi-dull PET chip market review.........38
2.6 Direct-spun polyester staple fiber 1.4×3.8mm market review ....41
2.7 Polyester filament yarn market review .........45
Chapter Three: Economic operation of China’s polyester industry in 2006..49
3.1 Development of polyester industry is favorable.........49
3.2 Profit of polyester industry increases slightly......49
3.3 High feedstock cost is the major reason for lower gross margin....50
3.4 The industry presents favorable sales ratio and healthy operation of funds..51
3.5 The industry shows good ability of short-term payment and liquidity ...52
3.6 Supply and demand in polyester industry remains strong ......53
3.7 Concentration level of the industry is high ......55
3.8 Fixed assets investment in polyester industry is favorable .....56

Chapter Four: Supply and demand .........56
4.1 PX production and consumption in China and Asia......56
4.1.1 PX production.......56
4.1.2 PX demand........59
4.1.3 PX import........60
4.2 PTA production and consumption in China and Asia....61
4.2.1 PTA production .........61
4.2.2 PTA demand.........63
4.2.3 PTA import..........65
4.3 MEG production and consumption in China and Asia......66
4.3.1 MEG production ........66
4.3.2 MEG demand.......68
4.3.3 MEG import........69
4.4 PET production and consumption......71
4.4.1 PET capacity.......71
4.4.2 PET production..........72
4.4.3 PET import/export and apparent consumption in China....72
4.4.4 PET capacity expansion in 2006-2008.....73
4.5 Polyester staple fiber capacity, production and import/export in 2006..76
4.5.1 Production and consumption increase continuously......76
4.5.2 Import declines and export grows obviously......78
4.5.3 Consumption of polyester staple fiber in 2006....80
4.6 Polyester filament yarn capacity, production and import/export in 2006..86
4.6.1 Operating rate increases on strong demand and higher profit.....86
4.6.2 Import continues to decline and export grows significantly ...87
4.6.3 Polyester filament yarn capacity and application.....89
4.6.4 Consumption of fiber grade PET chip in different region....91
4.6.5 Polyester filament capacity expansion in 2006.....92
Chapter Five: Development trend.......95
5.1 Overall trend...........95
5.1.1 Development of polyester industry is faster than other chemical fiber
industries...........95
5.1.2 Prices move up slightly, but the development of upstream and downstream industries is in imbalance ......96
5.1.3 Demand for feedstocks remains strong and the shortage is large..98
5.1.4 The profit rate declines.........100
5.1.5 Import drops quickly and the export amounts greatly...101
5.1.6 The sales of polyester filament yarn is highly concentrated, while the polyester
staple fiber is dispersive. Export of PET chip increases largely..102
5.1.7 Sales ratio of PET chips and polyester filament yarn hikes, but the ratio of polyester staple fiber goes down. The inventory of polyester products drops further.........103
5.1.8 Development of high value added products keeps fast...105
5.1.9 The profit of conventional polyester products tends thinner and prices of functional products stay high.......105
5.1.10 Industrial polyester products will become driving force for the industry...105
5.2 Correlation..........106
5.2.1 Overview..........106
5.2.2 Prices changes of upstream and downstream products .....107
5.3 Periodicity.........107
5.3.1 WTI oil spot.........108
5.3.2 Asian PX price (FOB Korea)......108
5.3.3. China-made PTA.......108
5.3.4 China-made MEG..........109
5.3.5 Semi-dull PET chip........109
5.3.6 Direct-spun polyester staple fiber ......110
5.3.7 Polyester filament yarn DTY 150D .......110

Nylon ..... ..... .......111
Chapter One: Development of nylon industry ........111
Chapter Two: Properties of nylon ........ .111
Chapter Three: Production process of nylon .....111
Chapter Four: Nylon market review ........ ...112
4.1 CPL market review ........ ....112
4.2 Semi-dull nylon chip market review.......114
4.3 Nylon DTY 30D market review........117
Chapter Five: Economic operation of China’s nylon industry in 2006..120
5.1 Development of nylon industry keeps good trend.....120
5.2 Profit of polyester industry grows a little .......121
5.3 The industry presents favorable sales ratio and healthy operation of funds ...121
5.4 The ability of short-term payment and liquidity enhance from 2005 ...122
5.5 Concentration level of the industry is high .......123
5.6 Fixed assets investment in polyester industry is favorable.....124
5.7 Capacity expands fast against eased demand growth....125
Chapter Six: Supply and demand of nylon market....125
6.1 Supply and demand of CPL......125
6.1.1 Supply and demand of CPL in 2006 and outlook.....125
6.1.2 Concentration level of import origins and destinations is high, but the structure changes ..........126
6.2 Supply and demand of nylon chip.......128
6.2.1 Supply and demand of nylon 6 and nylon 66 chips.......128
6.2.2 Import and export of nylon chip.....128
6.3 Supply and demand of nylon filament yarn.......130
Chapter Seven: Development trend.......131
7.1 Overall trend .........131
7.1.1 Nylon filament yarn grows rapidly, but the proportion in chemical fiber industry is still small..........131
7.1.2 Prices of nylon products are in downtrend in 2006.......132
7.1.3 Demand for feedstocks remains strong and the shortage is still large despite a higher capacity..............133
7.1.4 Import and export increase greatly and the import dependency changes little............134
7.1.5 The sales of nylon filament yarn is concentrated, and the export increases significantly........135
7.1.6 Sales ratio of nylon filament yarn changes little, and the inventory hikes further.........136
7.1.7 The profit of nylon drops influenced by feedstocks prices.....136
7.2 Correlation..........138
5.2.1 Overview..........138
5.2.2 Prices changes of upstream and downstream products......139
7.3 Periodicity...........140
7.3.1 Asian benzene price (FOB Korea)......140
7.3.2 CPL in East China..........141
7.3.3. Nylon DTY 30D.........141
7.3.4 Nylon DTY 70D........142
7.3.5 Nylon FDY 70D.....................142
7.3.6 Nylon FDY 40D........142

Acrylic.........143
Chapter One: Development of acrylic industry.....143
Chapter Two: Properties of acrylic.......143
Chapter Three: Acrylic market review.......143
3.1 China and Asia’s ACN market review........143
3.2 Acrylic staple fiber market review........146
3.3 Acrylic top and tow market review.......148
Chapter Four: Economic operation of China’s acrylic industry in 2006.....150
4.1 Growth rate of acrylic industry increases, but the loss is greater...150
4.2 Profit of acrylic industry decreases significantly.....151
4.3 The industry presents favorable sales ratio and healthy operation of funds....151
4.4 Concentration level of the industry is high.....152
4.5 Fixed assets investment in acrylic industry is modest....153
Chapter Five: Supply and demand of acrylic industry ......154
5.1 Supply and demand of ACN in China.....154
5.1.1 ACN production, import and demand.......154
5.1.2 Concentration level of import origins and destinations is high...155
5.2 Supply and demand of acrylic fiber in China.....156
5.2.1 Demand is dwindling........156
5.2.2 Import and export.......156
Chapter Six: Chapter Seven: Development trend......158
6.1 Overall trend.........158
6.1.1 The development of acrylic industry is slower then other chemical fiber industry, and the proportion is small......158
6.1.2 Prices of acrylic products are in uptrend in 2006.....158
6.1.3 ACN industry grows rapidly in China and the import dependency rate declines........160
6.1.4 Import of acrylic fiber increases slightly and export increase greatly .161
6.1.5 The sales of acrylic fiber is concentrated....161
6.1.6 Sales ratio of acrylic fiber changes little, and the inventory hikes greatly...162
6.1.7 The profit of acrylic fiber deteriorate influenced by higher feedstocks prices ........163
6.2 Correlation..........164
6.2.1Overview...........164
6.2.2 Prices changes of upstream and downstream products .....165
6.3 Periodicity...........165
6.3.1 Asian ACN price ........165
6.3.2 Imported acrylic tow 3D........166
6.3.3. Acrylic staple fiber 3D×64mm.......166
6.3.4 Acrylic staple fiber 1.5D×38mm.....167

Viscose ............168
Chapter One: Properties and variety of viscose fibers .....168
1.1 Properties of viscose..........168
1.2 Variety of viscose............168
1.2.1 Viscose staple fiber .............168
1.2.2 Viscose filament yarn............168
Chapter Two: Production process of viscose ............168
Chapter Three: Viscose market review..............169
3.1 Second cut market review............169
3.2 Viscose staple fiber 1.5D×38mm and viscose filament yarn 120D market review...............171
Chapter Four: Economic operation of China’s acrylic industry in 2006........175
4.1 Growth rate of viscose industry increases steadily, and the export expands greatly.........175
4.2 Profit of viscose industry increase significantly..........175
4.3 The industry presents flat sales ratio and healthy operation of funds in 2006..176
4.4 The industry shows good ability of short-term payment and liquidity....177
4.5 Concentration level of the industry is high ........177
4.6 Fixed assets investment in viscose industry hikes slightly.........178
Chapter Five: Supply and demand ..........179
5.1 Viscose staple fiber..........179
5.1.1 Supply and demand ..........179
5.1.2 Import continues to drop and export expands greatly.....179
5.2 Viscose filament yarn...........182
5.2.1 Supply and demand remains modest........182
5.2.2 Import continues to drop and export expands greatly.......183
Chapter Six: Development trend.........185
6.1 Overall trend...............185
6.1.1 The development of viscose industry is slower then other chemical fiber industry, and the proportion is small. ............185
6.1.2 Prices of viscose fibers are different ........185
6.1.3 Cotton pulp prices fluctuate greatly and the output and consumption increase steadily ...........186
6.1.4 Import dependency of viscose staple fiber drops .......187
6.1.5 The sales of viscose filament yarn is highly concentrated, while the viscose staple fiber is dispersive. ..........188
6.1.6 Sales ratio of viscose changes little, and the inventory hikes greatly....189
6.1.7 The profit of acrylic fiber begins to increase gradually ...190
6.2 Correlation..............191
6.3 Periodicity..............192
6.3.1 Staple fiber grade cotton pulp.........192
6.3.2 Viscose staple fiber 1.5D×38mm........193
6.3.3 Viscose filament yarn 120D.........193

Spandex ................194
Chapter One: Development of spandex industry ......194
Chapter Two: Properties of spandex..........194
Chapter Three: Production process of spandex .........194
Chapter Four: Spandex market review..........194
4.1 Pure MDI and PTMEG market review.........194
4.2 Spandex 40D (for air-covered yarn) market review.....196
Chapter Five: Supply and demand of spandex market .........199
5.1 Capacity development of China’s spandex industry in 2006 ...199
5.2 Supply and demand of spandex market in China ......201
5.3 Regional distribution of spandex trade has undergone some changes, but it remains concentrative..........202
Chapter Six: Development trend of the industry..........204
6.1 General tendency of the industry...........204
6.1.1 The industry witnesses fast growth, though it takes a small part in chemical fiber industry ............204
6.1.2 The growth of demand has lagged behind capacity expansion recent years .. ...........205
6.1.3 Supply of pure MDI increases significantly in China while that of PTMEG cannot meet the demand ...........206
6.1.4 Pure MDI supply expands apparently and PTMEG supply cannot meet the demand in China..........206
6.2 Periodical property of the industry ......208
6.3 New production process of spandex and the development trend...208
6.3.1 Dry spinning process is still widely adopted ......208
6.3.2 Melt spinning process has emerged and quality of the product is improving. 208
6.3.3 Development of functional spandex products .... .209

Polypropylene fiber ............210
Chapter One: Economic operation of polypropylene fiber industry in 2006....210
1.1 Output value, sales and exports of the industry increase distinctly and the profit margin gets slightly promoted .........210
1.2 The profitability of the industry gets significantly promoted....211
1.3 Sales, production and turnover of funds runs more healthily than 2005...211
1.4 Short-term payment and liquidity ability of the industry is enhanced largely...212
1.5 Concentration level of the industry is higher........213
1.6 Fixed assets investment of the industry is booming ......214
Chapter Two: Development trend of the industry.......214
2.1 Development of the industry in standstill in 2006.......214
2.2 Promising prospect is expected..........215
2.3 Import price of polypropylene fiber is much higher than the export price...217
2.4 Sales/production ratio of the industry gets marginally improved as the inventory little changed ..............217
2.5 Profitability of the industry is improved in 2006, but much poorer than that in 2003 and 2004..............218

Government policies.......219
Chapter One: Appreciation of Renminbi.........219
1.1 Renminbi exchange rate reform .........219
1.2 Theoretical analysis on impact of Renminbi appreciation on chemical fiber industry..........220
1.2.1 The influence on world oil market......220
1.2.2 The import costs of raw materials are lower ......220
1.2.3 Exports of downstream products are hampered .....221
1.3 Impact of Renminbi appreciation on chemical fiber industry....221
1.3.1 Correlation analysis .........221
1.3.2 The influence on profit of the industry.......222
Chapter Two: Taxation policy............222
2.1 Import duty for chemical fiber is much lower than the raw materials.......222
2.2 Export tax rebate rate ........225
2.2.1 Analysis on the adjustment of export tax rebate rate in 2006.....225
2.2.2 The influence on chemical fiber industry.....227
Chapter Three Trade frictions...........228
3.1 China has been involved in more trade frictions .....228
3.2 Many foreign countries have initiated trade remedy investigation against China’s textile industry ........229
3.3 Uncertainty remains on the exports of textiles and apparels in post-quota era..229

Comparative study .........233
Chapter One: Chemical fiber industry and other textile industry compared.....233
1.1 Comparison on the economic operation in 2006......233
1.1.1 Major textile industry presents favorable development....233
1.1.2 Sales, production and turnaround of funds are running well..233
1.1.3 Profitability of the industry is favorable..........234
1.2 Conclusion...............235
Chapter Two: Comparison between different chemical fiber products ..........237
2.1 Comparison on the economic operation in 2006....... ..........237
2.1.1 Most products show rapid development, but acrylic fiber suffer huge loss...237
2.1.2 Sales, production and turnover of funds run healthily ......237
2.1.3 The profitability is generally high ....................239
2.2 Conclusion.................................239
Chapter Three: Comparison of listed chemical fiber enterprises ............241
3.1 Performance of chemical fiber, textile and Shanghai composite indexes......241
3.2 Financial analysis ............................242
3.2.1 Analysis method.......242
3.2.2 Selection of samples and financial indexes......243
3.2.3 Factor analysis results ........243
3.2.4 Commentary on listed enterprises based on factor analysis....245

Outlook........... .250
Chapter One: China’s chemical fiber industry outlook......250
1.1 The industry is to develop steadily .......250
1.1.1 Chemical fiber consumption will grow rapidly......250
1.1.2 Textile and apparel exports are expected to keep fast growth ....251
1.2 New development trend of world chemical fiber industry pattern and technology.........252
1.2.1 Development tendency of world chemical fiber producing technology...252
1.2.2 Development of new and high-tech chemical fiber......252
1.2.3 Development of differential fiber.......255
1.2.4 Development of environment friendly and energy saving Lyocell fiber...256
1.2.5 New technologies supported by the Chinese government ...257
1.3 Chemical fiber for decoration and industrial application tends to development further.........258
1.4 Trade frictions are expected to intensify ......258
Chapter Two: Outlook by products.........259
2.1 Polyester market outlook for 2007.......259
2.1.1 World oil market outlook .......259
2.1.2 PX market outlook.........261
2.1.3 PTA market outlook .......262
2.1.4 MEG market outlook.........263
2.1.5 PET chip market outlook ........265
2.1.6 Polyester staple fiber market outlook .......265
2.1.7 Polyester filament yarn market outlook.....268
2.2 Nylon market outlook..........270
2.3 Acrylic market outlook ........271
2.4 Viscose market outlook .........272
2.5 Spandex market outlook ........274
Chapter Three: Quantitative forecast ........278
3.1 Polyester market .............278
3.1.1 WTI spot oil ........278
3.1.2 Asian PX price (FOB Korea).......278
3.1.3 China-made PTA .......279
3.1.4 China-made MEG .........279
3.1.5 China-made semi-dull PET chip.........280
3.1.6 Direct-spun polyester staple fiber 1.5D ×38mm ....280
3.1.7 Polyester DTY 150D ........281
3.1.8 Polyester FDY 150D ........281
3.1.9 Polyester POY 150D .......282
3.2 Nylon market ........282
3.2.1 Asian benzene price (FOB Korea)......282
3.2.2 CPL in East China..........283
3.2.3 Nylon FDY 40D........283
3.2.4 Nylon DTY 70D..........284
3.3 Acrylic market ..........284
3.3.1 Asian ACN price (CFR Asia).......284
3.3.2 Imported acrylic tow 3D ........285
3.3.3 Acrylic staple fiber 1.5D×38mm.....285
3.3.4 Acrylic staple fiber 3D with medium-to-high length .......286
3.4 Viscose market ........286
3.4.1 Staple-grade linter.........286
3.4.2 Viscose staple fiber 1.5D×38mm........287
3.4.3 Bright viscose filament yarn 120D .......287
3.5 Spandex market .........287

List of Charts
Chart 1.1 Categories of Textile Fibers........ 13
Chart 1.2 Economic Indicators of Chemical Fiber Enterprises above Designated Size... 14
Chart 1.3 Business Performance of Chemical Fiber Enterprises above Designated Size...........15
Chart 1.4 Assets Circulation of Chemical Fiber Enterprises above Designated Size.16
Chart 1.5 Capital Circulation of Chemical Fiber Enterprises above Designated Size.16
Chart 1.6 Chemical Textile and Apparel Exports and Imports of China (100 million USD) ........17
Chart 1.7 Fixed Asset Investments of Chemical Fiber Industry....18
Chart 1.8 Chemical Fiber Developments of China and Other Areas Compared in 1980-2006.......19
Chart 1.9 Main Chemical Fiber Distribution of China in 2003-2006....20
Chart 2.1 Production Process of Polyester Fiber......25
Chart 2.2 Price Trend of Crude Oil in 2006 (WTI spot value)....26
Chart 2.3 Price Trend of PX FOB Korea in 2006.......29
Chart 2.4 Price Trend of PTA in 2006.......31
Chart 2.5 Price Trend of MEG in 2006.........35
Chart 2.6 Price Trend of Semi-dull PET Chip in 2006......38
Chart 2.7 Price Trend of Direct-spun Polyester Staple Fiber 1.4D*38mm in 2006...41
Chart 2.8 Price Trend of Polyester Filament Yarn FDY 150D in 2006....45
Chart 2.9 Price Trend of Polyester Filament Yarn POY 150D in 2006....45
Chart 2.10 Price Trend of Polyester Filament Yarn DTY 150D in 2006..46
Chart 2.11 Economic Indicators of Polyester Enterprises above Designated Size...49
Chart 2.12 Business Performance of Polyester Enterprises above Designated Size.49
Chart 2.13 Price Trend of Polyester Products in 2006.....51
Chart 2.14 Assets Circulation of Polyester Enterprises above Designated Size..52
Chart 2.15 Capital Circulation of Polyester Enterprises above Designated Size.53
Chart 2.16 Fixed Asset Investments of Polyester Industry.....56
Chart 2.17 PET Chip Exports and Imports Distribution of China in 2006....73
Chart 2.18 Polyester Staple Fiber Capacities and Outputs of China in 1997-2006..78
Chart 2.19 Monthly Polyester Staple Fiber and Polyester Yarn Outputs of China in 2006........78
Chart 2.20 Polyester Staple Fiber Exports and Imports of China in 1997-2006..79
Chart 2.21 Monthly Polyester Staple Fiber Exports and Imports of China in 2005-2006........79
Chart 2.22 Polyester Staple Fiber Imports Distribution of China in 2006....80
Chart 2.23 Polyester Staple Fiber Exports Distribution of China in 2006....80
Chart 2.24 Polyester Staple Fiber Sales Distribution of China in 2006...81
Chart 2.25 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Southwest
China in 2006(metric tons per month)......81
Chart 2.26 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Hubei
Province in 2006.......82
Chart 2.27 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Fujian Province in 2006..........82
Chart 2.28 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Zhejiang Province in 2006.........83
Chart 2.29 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Shandong Province in 2006.........83
Chart 2.30 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Hebei Province in 2006.........83
Chart 2.31 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Henan Province in 2006.........................................................................................84
Chart 2.32 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Northeast China in 2006.........84
Chart 2.33 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Jiangsu Province in 2006.........................................................................................84
Chart 2.34 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Shanghai in 2006...........85
Chart 2.35 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Guangdong and Guangxi Province in 2006........85
Chart 2.36 Direct-spun Polyester Staple Fiber Suppliers and Consumptions in Jiangxi and Anhui Province in 2006........85
Chart 2.37 Polyester Filament Yarn Capacities, Outputs and Capacity Utilizations of China in 2000-2006...........87
Chart 2.38 Polyester Filament Yarn Exports and Imports of China in 2000-2006....88
Chart 2.39 Monthly Polyester Filament Yarn Exports and Imports of China in 2005-2006...............................................................................................88
Chart 2.40 Polyester Filament Yarn Imports Distributions of China in 2006..89
Chart 2.41 Polyester Filament Yarn Exports Distributions of China in 2006..89
Chart 2.42 Capacity Distribution of Polyester Filament Yarn by Area and Product...90
Chart 2.43 Polyester Fiber and Chemical Fiber Developments Compared in 1994-2006.................................................................................................95
Chart 2.44 Polyester Fiber and Other Chemical Fiber Compared in 1993-2006(10kt)..95
Chart 2.45 Price Trend of Polyester Filament Yarn and Polyester Staple Fiber in 1998-2006..........97
Chart 2.46 PTA Outputs, Net Imports and Import Dependence of China in 1996-2006..99
Chart 2.47 MEG Outputs, Net Imports and Import Dependence of China in 1996-2006........99
Chart 2.48 PX Outputs, Net Imports and Import Dependence of China in 1996-2006...99
Chart 2.49 Business Performance of Polyester Fiber Industry Compared in 2003-2006.........100
Chart 2.50 Profits of PET Chip, Polyester Filament Yarn Compared in 1997-2006..101
Chart 2.51 Profits of Imported Polyester Filament Yarn Compared in 2005-2006....101
Chart 2.52 Sales Distribution of PET Chip in 2004-2006......103
Chart 2.53 Sales Distribution of Polyester Filament Yarn in 2004-2006....103
Chart 2.54 Sales Distribution of Polyester Staple Fiber in 2004-2006..103
Chart 2.55 Sales/production Ratio and Inventory Level of PET Chip, Polyester Filament Yarn and Polyester Staple Fiber (%).....104
Chart 2.56 Monthly Sales/production Ratio of PET Chip in 2005-2006....104
Chart 2.57 Monthly Sales/production Ratio of Polyester Filament Yarn in 2005-2006.104
Chart 2.58 Monthly Sales/production Ratio of Polyester Staple Fiber in 2005-2006.105
Chart 2.59 Seasonal Price Trend of WTI Spot Oil in 2001-2006....108
Chart 2.60 Seasonal Price Trend of PX FOB Korea in 2001-2006....108
Chart 2.61 Seasonal Price Trend of China PTA in 2001-2006.....109
Chart 2.62 Seasonal Price Trend of China MEG in 2001-2006......109
Chart 2.63 Seasonal Price Trend of Semi-dull PET Chip in 2001-2006....110
Chart 2.64 Seasonal Price Trend of Direct-spun Polyester Staple Fiber in 2001-2006.110
Chart 2.65 Seasonal Price Trend of Polyester Filament Yarn DTY 150D in 2001-2006.........110
Chart 3.1 Production Process of Nylon Fiber.......111
Chart 3.2 Price Trend of CPL and Benzene FOB Korea.......112
Chart 3.3 Price Trend of Semi-dull Nylon-6 Chip for High-speed Spinning..114
Chart 3.4 Price Trend of Semi-dull Nylon-6 Chip for Conventional Spinning...114
Chart 3.5 Price Trend of Nylon-6 raw materials...........115
Chart 3.6 Price Trend of Nylon-6 DTY 30D.......117
Chart 3.7 Price Trend of Nylon-6 DTY 70D.......117
Chart 3.8 Price Trend of Nylon-6 FDY 70D..........117
Chart 3.9 Price Trend of Nylon-6 FDY 40D.......118
Chart 3.10 Economic Indicators of Nylon Enterprises above Designated Size..121
Chart 3.11 Business Performance of Nylon Enterprises above Designated Size...121
Chart 3.12 Assets Circulation of Nylon Enterprises above Designated Size...122
Chart 3.13 Capital Circulation of Nylon Enterprises above Designated Size.....122
Chart 3.14 Outputs of Nylon Fiber Enterprises above Designated Size....123
Chart 3.15 Fixed Asset Investments of Nylon Industry.........124
Chart 3.16 Price Trend of Nylon-6 DTY and FDY in 1998-2006.....133
Chart 3.17 CPL Outputs, Imports and Import Dependence of China in 1993-2006.........134
Chart 3.18 Sales Distribution of Nylon Filament Yarn in 2004-2006.....135
Chart 3.19 Monthly Sales/production Ratio of Nylon Filament Yarn in 2005-2006(%)..136
Chart 3.20 Business Performance of Nylon Fiber in 2003-2006(%).....136
Chart 3.21 Production Compositions of Nylon Chips........137
Chart 3.22 Profits of Nylon-6 Chip in 2003-2006.....138
Chart 3.23 Profits of Imported Nylon-6, 6 Chip in 2005-2006......138
Chart 3.24 Seasonal Price Trend of Benzene FOB Korea in 2001-2006....140
Chart 3.25 Seasonal Price Trend of CPL in 2001-2006....141
Chart 3.26 Seasonal Price Trend of Nylon-6 DTY 30D in 2001-2006...141
Chart 3.27 Seasonal Price Trend of Nylon-6 DTY 70D in 2001-2006...141
Chart 3.28 Seasonal Price Trend of Nylon-6 FDY 70D in 2001-2006...142
Chart 3.29 Seasonal Price Trend of Nylon-6 FDY 40D in 2001-2006...142
Chart 4.1 Price Trend of China ACN and ACN CFR Asia.....143
Chart 4.2 Price Trend of Acrylic Staple Fiber 1.5D*38mm....146
Chart 4.3 Price Trend of Acrylic Staple Fiber 3D*64mm.......147
Chart 4.4 Price Trend of China Acrylic Top 3D........148
Chart 4.5 Price Trend of China Acrylic Tow and Imported Acrylic Tow 3D...149
Chart 4.6 Economic Indicators of Acrylic Enterprises above Designated Size..151
Chart 4.7 Business Performance of Acrylic Enterprises above Designated Size...151
Chart 4.8 Assets Circulation of Acrylic Enterprises above Designated Size....152
Chart 4.9 Outputs of Acrylic Fiber Enterprises above Designated Size....153
Chart 4.10 Fixed Asset Investments of Acrylic Industry.......154
Chart 4.11 Price Trend of Acrylic Staple Fiber in 1998-2006...159
Chart 4.12 ACN Outputs, Imports and Import Dependence of China in 1993-2006..160
Chart 4.13 Monthly Sales/production Ratio of Acrylic Staple Fiber in 2005-2006(%)...162
Chart 4.14 Business Performance of Acrylic Fiber Compared in 2003-2006..163
Chart 4.15 Price Gap between ACN and Acrylic Staple Fiber in 2004-2006...163
Chart 4.16 Seasonal Price Trend of ACN CFR Korea in 2001-2006......166
Chart 4.17 Seasonal Price Trend of Imported Acrylic Tow in 2001-2006.....166
Chart 4.18 Seasonal Price Trend of Acrylic Staple Fiber 3D*64mm in 2001-2006....167
Chart 4.19 Seasonal Price Trend of Acrylic Staple Fiber 1.5D*38mm in 2001-2006.167
Chart 5.1 Production Process of Viscose Fiber.......169
Chart 5.2 Price Trend of Cotton Linter............169
Chart 5.3 Price Trend of Staple Grade Cotton Pulp.......170
Chart 5.4 Price Trend of Viscose Staple Fiber 1.5D*38mm....171
Chart 5.5 Price Trend of Bright Viscose Filament Yarn 120D......172
Chart 5.6 Economic Indicators of Viscose Enterprises above Designated Size.....175
Chart 5.7 Business Performance of Viscose Enterprises above Designated Size....176
Chart 5.8 Assets Circulation of Viscose Enterprises above Designated Size..176
Chart 5.9 Outputs of Viscose Fiber Enterprises above Designated Size.....177
Chart 5.10 Fixed Asset Investments of Acrylic Industry.........178
Chart 5.11 Price Trend of Viscose Fiber in 1997-2006.........186
Chart 5.12 Cotton Linter Outputs, Net Imports and Import Dependence of China in 1995-2006..........187
Chart 5.13 Sales Distribution of Viscose Staple Fiber in 2004-2006....188
Chart 5.14 Sales Distribution of Viscose Filament Yarn in 2004-2006......189
Chart 5.15 Sales/production Ratio and Inventory Level of Viscose Filament Yarn and Viscose Staple Fiber........189
Chart 5.16 Monthly Sales/production Ratio of Viscose Staple Fiber in 2005-2006...190
Chart 5.17 Monthly Sales/production Ratio of Viscose Filament Yarn in 2005-2006....190
Chart 5.18 Business Performance of Acrylic Fiber Compared in 2003-2006.......190
Chart 5.19 Production Compositions of Viscose Fiber......191
Chart 5.20 Price Gap between Viscose Fiber and Cotton Pulp in 2001-2006...191
Chart 5.21 Seasonal Price Trend of Staple Grade Cotton Pulp in 2001-2006...192
Chart 5.22 Seasonal Price Trend of Viscose Staple Fiber 1.5D*38mm in 2001-2006..193
Chart 5.23 Seasonal Price Trend of Viscose Filament Yarn 120D in 2001-2006....193
Chart 6.1 Production Process of Spandex........194
Chart 6.2 Price Trend of Spandex Feedstock ($/mt)......194
Chart 6.3 Price Trend of Spandex 40D for Air-covered Yarn...196
Chart 6.4 Spandex Capacity of China in 1997-2006.........200
Chart 6.5 Capacity Distribution of Dry-spun Spandex in 2006.....201
Chart 6.6 Seasonal Price Trend of Spandex 40D for Air-covered Yarn in 2001-2006..208
Chart 7.1 Economic Indicators of Polypropylene Enterprises above Designated Size...........210
Chart 7.2 Business Performance of Polypropylene Enterprises above Designated Size..............211
Chart 7.3 Assets Circulation of Polypropylene Enterprises above Designated Size.212
Chart 7.4 Capital Circulation of Polypropylene Enterprises above Designated Size....212
Chart 7.5 Outputs of Polypropylene Fiber Enterprises above Designated Size.213
Chart 7.6 Fixed Asset Investments of Polypropylene Industry....214
Chart 7.7 Monthly Sales/production Ratio of Polypropylene Fiber in 2005-2006(%)...218
Chart 7.8 Business Performance of Polypropylene Fiber in 2003-2006(%)...218
Chart 8.1 Impacts on Chemical Fiber Industry from New Export Tax Rebate Policy.228
Chart 8.2 Anti-dumping Lawsuit Numbers Compared between China and Other Countries...........228
Chart 8.3 Anti-dumping Lawsuit Numbers against China Compared Before and After WTO Access........229
Chart 9.1 Business Performance Compared in Chemical Fiber Industry and Other Textile Industries in 2006.........233
Chart 9.2 Development Capability Compared in Chemical Fiber Industry and Other Textile Industries in 2004-2006........235
Chart 9.3 Management Capability Compared in Chemical Fiber Industry and Other Textile Industries in 2004-2006........235
Chart 9.4 Profit Capability Compared in Chemical Fiber Industry and Other Textile Industries in 2004-2006.......236
Chart 9.5 Business Performance Compared in Main Chemical Fibers in 2006.237
Chart 9.6 Assets Circulation Compared in Main Chemical Fibers in 2006..238
Chart 9.7 Profit Condition Compared in Main Chemical Fibers in 2006....239
Chart 9.8 Development Capacity Compared in Main Chemical Fibers in 2004-2006...240
Chart 9.9 Management Capacity Compared in Main Chemical Fibers in 2004-2006...240
Chart 9.10 Profit Capacity Compared in Main Chemical Fibers in 2004-2006...240
Chart 9.11 Textile, Apparel and Shanghai Composite Index Compared in 2004-2006.242
Chart 9.12 Profit Capacity Rank of Chemical Fiber Listed Companies.....245
Chart 9.13 Financial Capacity Rank of Chemical Fiber Listed Companies..246
Chart 10.1 Per Capita Fiber Consumptions and Growths Compared in China and the Developed Countries in 1985-2010(kilo per capita)...251
Chart 10.2 Textile and Apparel Exports and Growths of China in 1994-2006..251
List of Tables
Table 1.1 Chemical Fiber Output Value Growth by Province in 2006...18
Table 1.2 Global and China Chemical Fiber Output in 1980-2006...19
Table 1.3 Growths of Major Chemical Fibers in China during 2002-2006..20
Table 1.4 Substitutes between Synthetic Fibers and Natural Fibers....21
Table 1.5 Substitutes among Synthetic Fibers......22
Table 1.6 Import Dependence of Raw Materials for Synthetic Fibers..22
Table 1.7 Price Trends of Major Chemical Fibers in 2006.....23
Table 1.8 Peak Seasons for Fibers.......24
Table 2.1 Monthly and Yearly WTI Spot Oil Prices in 2006.....26
Table 2.2 WTI Spot Oil Price Compared in 2005-2006.....28
Table 2.3 Monthly and Yearly Spot PX Prices in 2006......29
Table 2.4 PX Imports, Contract Price and Spot Price Compared in 2005-2006...31
Table 2.5 Monthly and Yearly Prices of China-made PTA in 2006....32
Table 2.6 China-made and Imported PTA Price Compared in 2005-2006...34
Table 2.7 PTA Contract Price Compared in 2005-2006....34
Table 2.8 Monthly and Yearly EG Prices in 2006.....35
Table 2.9 China-made and Imported EG Price Compared in 2005-2006...37
Table 2.10 EG Contract Price Compared in 2005-2006......38
Table 2.11 Monthly and Yearly Semi-dull PET Chip Prices in 2006.....39
Table 2.12 Semi-dull PET Chip Price Compared in 2005-2006.....41
Table 2.13 Monthly and Yearly Prices of Direct-spun PSF 1.4D*38mm in 2006..42
Table 2.14 Direct-spun PSF 1.4D*38mm Price Compared in 2005-2006...45
Table 2.15 Monthly and Yearly Prices of FDY/POY/DTY 150D in Shaoxing during 2006..............46
Table 2.16 FDY/POY/DTY 150D Price Compared in Shaoxing in 2005-2006...48
Table 2.17 PX, PTA and EG Consumption in Polyester Fiber...50
Table 2.18 PX, PTA and EG Imports Compared in 2005-2006......50
Table 2.19 Polyester Fiber Demand and Supply Compared in 2005-2006....53
Table 2.20 Monthly Polyester Fiber Demand and Supply Compared in 2005-2006.54
Table 2.21 Polyester Fiber Output Value Growth by Province in 2006..55
Table 2.22 Capacity of Major Chinese PX Producers in 2006......57
Table 2.23 PX Production and Consumption in China during 2003-2009...57
Table 2.24 New PX Projects and Capacity Expansions in Asia during 2006-2007..58
Table 2.25 New PX Projects in Asia during 2008-2009......59
Table 2.26 PX Production and Consumption in Asia during 2004-2008.....59
Table 2.27 PX Imports of China in 2005-2006 by Origin.....60
Table 2.28 PX Imports of China in 2005-2006 by Destination...61
Table 2.29 Capacity of Major China PTA Producers in 2006.....61
Table 2.30 China’s PTA Investment in 2005-2006.....62
Table 2.31 New PTA Projects in China after 2008.....62
Table 2.32 PTA Production and Consumption in China in 2002-2008....63
Table 2.33 PTA Investment in Other Asian Areas except China....63
Table 2.34 PTA Imports of China in 2005-2006 by Origin.......65
Table 2.35 PTA Imports of China in 2005-2006 by Destination......66
Table 2.36 Major Chinese MEG Producers in China........66
Table 2.37 MEG Capacity and Output in China during 2002-2007...67
Table 2.38 New MEG Projects and Capacity Expansions in Asia during 2006-2008..67
Table 2.39 MEG Imports of China in 2005-2006 by Origin.....70
Table 2.40 MEG Imports of China in 2005-2006 by Destination....70
Table 2.41 PET Capacity in China during 2002-2008.......71
Table 2.42 China, Asia and Global PET Output during 2003-2008......72
Table 2.43 PET Import, Export and Apparent Consumption in China during 2002-2008.........72
Table 2.44 New PET Capacities in China During 2006......74
Table 2.45 PET Capacity under Construction in Early 2007......74
Table 2.46 PET Capacity to be built in Early 2007.......75
Table 2.47 PET Investment in Other Areas except China......75
Table 2.48 PSF Capacity, Import, Export and Consumption in China during 1998-2006...........77
Table 2.49 Virgin PSF Capacity in China during 2002-2007.....77
Table 2.50 PSF Sales in China by Destination......86
Table 2.51 PFY Capacity, Import, Export and Consumption in China during 2000-2006.........87
Table 2.52 PFY Capacity by Province and Variety in 2006....90
Table 2.53 Direct-spun and Chip-spun PFY Capacity in 2006 by Province...91
Table 2.54 PET Chip Consumption in PFY by Province......91
Table 2.55 Fiber-grade PET Chip Output in China During 2006....92
Table 2.56 PFY Capacity Coming on Stream in 2006.......92
Table 2.57 PFY Capacity under Construction at the end of 2006.....93
Table 2.58 PFY Capacity to be built at the end of 2006......94
Table 2.59 Polyester Fiber and Chemical Fiber Output Growth Compared in 1993-2006..........96
Table 2.60 Average Annual Prices of Polyester Feedstocks and Fibers in China during 1999-2006.........97
Table 2.61 Annual Price Changes of Polyester Feedstocks and Fibers in China during 1998-2006.........97
Table 2.62 Polyester Fiber Theoretical Demand and Actual Output Growth in China during 1997-2006.......100
Table 2.63 PSF and PFY Imports and Exports in 1996-2006......102
Table 2.64 Correlation between WTI Oil and Downstream Products....106
Table 2.65 Apparent Demand Correlation between Polyester Fibers and Feedstocks.107
Table 2.66 Price Correlation between Polyester Fibers and Feedstocks.....107
Table 3.1 Monthly and Yearly Price of CPL in East China in 2006.....112
Table 3.2 Monthly and Yearly RMB and USD Prices of CPL in 2006....113
Table 3.3 Monthly and Yearly Prices of Conventional and High-speed Spinning Nylon Chips in 2006...........................................114
Table 3.4 Monthly and Yearly Prices of China-made and Imported Chips in 2005-2006.......................................................................................................................116
Table 3.5 Monthly and Yearly Prices of Nylon Filament Yarns in 2006.....118
Table 3.6 Nylon Filament Yarn Price Compared in 2005-2006....120
Table 3.7 Nylon Fiber Output Value by Province in 2006......124
Table 3.8 Demand and Supply for Nylon Fibers in 2006......125
Table 3.9 Demand and Supply for CPL in 2002-2007.......126
Table 3.10 Capacity and Output of Major Chinese CPL Producers in 2004-2007..126
Table 3.11 CPL Imports of China in 2005-2006 by Origin.....127
Table 3.12 CPL Imports of China in 2005-2006 by Destination....127
Table 3.13 Demand and Supply for Nylon 6 Chip in 2004-2007.....128
Table 3.14 Demand and Supply for Nylon 6,6 Chip in 2005-2006.....128
Table 3.15 Nylon 6 and Nylon 6,6 Chip Imports of China in 2006......129
Table 3.16 Nylon Fiber Demand and Supply in 2006.....130
Table 3.17 Nylon Textile Filament Demand and Supply in 2001-2007..130
Table 3.18 Nylon Fiber Imports and Exports of China in 2006.....131
Table 3.19 Nylon Fiber and Chemical Fiber Output Growth Compared in 1993-2006..132
Table 3.20 Average Annual Prices of CPL and Nylon Filament Yarns in China during 1999-2006.......132
Table 3.21 CPL Output, Import, Capacity and Apparent Demand in 1993-2006.....134
Table 3.22 Nylon Fiber Imports & Exports of China in 1995-2006.....135
Table 3.23 CPL and Nylon Chip Annual Price Changes in China during 2004-2006.137
Table 3.24 Correlation between Benzene and Downstream Products......139
Table 3.25 Price Correlation between Benzene and Downstream Products...139
Table 4.1 Monthly and Yearly Prices of China-made and Asia ACN.....144
Table 4.2 China-made, Asia and Imported ACN Price Compared in 2005-2006....146
Table 4.3 Monthly and Yearly Price of Acrylic Staple Fiber in China during 2006..147
Table 4.4 Acrylic Fiber Price Compared in 2005-2006......148
Table 4.5 Monthly and Yearly Prices of China-made Acrylic Top and Tow in 2006....149
Table 4.6 China-made Acrylic Top/Tow and Imported Acrylic Tow Price Compared in 2005-2006.......150
Table 4.7 Acrylic Fiber Output Value by Province in 2006....153
Table 4.8 ACN Apparent Consumption in 2005-2006.......154
Table 4.9 ACN Imports by Origin in 2004-2006......155
Table 4.10 ACN Imports by Trading Area in 2005-2006.......155
Table 4.11 ACN Imports by Destination in 2005-2006......155
Table 4.12 Acrylic Fiber Apparent Consumption in China in 2004-2006...156
Table 4.13 Acrylic Staple Fiber, Tow and Top Imports by Origin in 2006....157
Table 4.14 Acrylic Fiber and Chemical Fiber Output Growth Compared in 1995-2006.......158
Table 4.15 Average Annual Prices of ACN and Acrylic Fiber in 1999-2006....159
Table 4.16 ACN Output, Imports, Capacity and Apparent Demand in 1995-2006....160
Table 4.17 Acrylic Fiber Imports and Exports in 1995-2006...161
Table 4.18 Acrylic Fiber Sales by Destination in 2006......162
Table 4.19 Correlation between ACN and Downstream Products.....164
Table 4.20 Price Correlation between ACN and Downstream Products...165
Table 5.1 Monthly and Yearly Prices of Cotton Linter and Staple-grade Cotton Pulp in 2005-2006.........170
Table 5.2 Cotton Linter and Staple-grade Cotton Pulp Price Compared in 2005-2006.........171
Table 5.3 Monthly and Yearly Prices of VSF 1.5D*38mm and Bright VFY 120D in 2006.........172
Table 5.4 VSF 1.5D*38mm and Bright VFY 120D Price Compared in 2005-2006....174
Table 5.5 Viscose Fiber Output in 2006 by Province.....178
Table 5.6 VSF Capacity under Construction in 2006-2007.....179
Table 5.7 VSF Output, Imports and Exports in 2000-2006.....180
Table 5.8 VSF Imports by Origin in 2006.....180
Table 5.9 VSF Exports by Destination in 2006........181
Table 5.10 VSF Monthly Imports and Exports Compared in 2005-2006...182
Table 5.11 VFY Demand and Supply in 2004-2006.......182
Table 5.12 VFY Exports in 2006 by Origin and Destination....184
Table 5.13 VFY Monthly Imports and Exports Compared in 2005-2006...184
Table 5.14 Viscose Fiber and Chemical Fiber Output Growth Compared in 1995-2006.......185
Table 5.15 Average Annual Prices of Viscose Feedstocks and Fibers in 1999-2006..186
Table 5.16 Cotton Linter Output, Import and Apparent Demand in 1995-2006..187
Table 5.17 VSF and VFY Imports and Exports of China in 1995-2006.....188
Table 5.18 Correlation between Viscose Feedstocks and Fibers......192
Table 6.1 Imported Prices of Pure MDI and PTMEG in 2005-2006...196
Table 6.2 Spandex and Covered Yarn Import Price Compared in 2005-2006...199
Table 6.3 Dry-spun Spandex Capacity by Province.......200
Table 6.4 Spandex Supply and Demand in China during 2001-2006..202
Table 6.5 Spandex Imports by Origin in 2005-2006......203
Table 6.6 Spandex Imports by Destination in 2005-2006.....203
Table 6.7 Spandex Exports by Destination in 2005-2006....204
Table 6.8 Spandex and Chemical Fiber Output Growth Compared in 1995-2006...204
Table 6.9 Spandex Capacity, Output and Apparent Consumption in 1997-2006..206
Table 6.10 Spandex Imports, Exports and Import Dependence in 1997-2006..206
Table 6.11 Supply and Demand of PTMEG/Pure MDI in 2005-2006...208
Table 7.1 Polypropylene Fiber Output Value by Province in 2005-2006.....214
Table 7.2 Polypropylene Fiber and Chemical Fiber Output Growth Compared in 2000-2006.......215
Table 7.3 Development on Polypropylene Fiber.....216
Table 7.4 Applications of Polypropylene Fiber........216
Table 7.5 Polypropylene and Polypropylene Fiber Import and Export Price Compared in 2005-2006.........217
Table 8.1 Correlation between RMB Exchange Rate and Major Chemical Fiber Raw Materials.........221
Table 8.2 Correlation between RMB Exchange Rate and Major Chemical Fibers....221
Table 8.3 Correlation between RMB Exchange Rate and Profit Margin of Chemical Fiber Industry.........222
Table 8.4 Tariff Comparison between Polyester Feedstocks and Fibers....223
Table 8.5 Tariff Comparison between Nylon Feedstock and Fibers.....223
Table 8.6 Tariff Comparison between Acrylic Feedstock and Fibers after 2003....224
Table 8.7 Tariff Comparison between Polypropylene Feedstock and Fibers after 2003........224
Table 8.8 Tariff Comparison between Spandex Feedstock and Fibers....224
Table 8.9 H.S. Code of Textiles Involved with Adjustment of Export Tax Rebate..225
Table 8.10 H.S. Code of Textiles Not Involved with Adjustment of Export Tax Rebate.........226
Table 8.11 Review of Export Tax Rebate Policy of China’s Textiles and Clothing...226
Table 8.12 Estimated Influence of Export Tax Rebate on China’s Chemical Fiber Industry........227
Table 8.13 International Trade Disputes on China’s Textile and Chemical Fiber Industry........232
Table 9.1 Sales/Production and Capital Circulation of Chemical Fiber and Other Textile Industries in 2005-2006.......234
Table 9.2 Profitability of Chemical Fiber and other Textile Industries in 2005, 2006....234
Table 9.3 Comprehensive Efficiency Rank of Chemical Fiber and Other Textile Industries in 2004-2006..........236
Table 9.4 Sales/Production and Capital Circulation of China’s Major Chemical Fibers in 2005-2006.........238
Table 9.5 Profitability Comparison of Major Chemical Fibers in 2005-2006....239
Table 9.6 Comprehensive Efficiency Rank of Major Chemical Fibers in 2004-2006.241
Table 9.7 Examination Results of Factor Analysis....244
Table 9.8 Influence of Factors and Calculation Formula......244
Table 9.9 Main Financial Indicators of Listed Chemical Fiber Company...247
Table 9.10 Main Financial Indicators of Listed Chemical Fiber Company in September, 2006........248