SHENZHEN Gintian Industry says China's imposition of price controls on silk products and the country's cotton shortage last year will not hurt its textile and garment businesses.
The Shenzhen conglomerate is placing increasing emphasis on textile and garment operations this year in the wake of a rapid slowdown in the property sector since late last year.
Executive director Shen Yigang said yesterday price controls on silk products and a poor cotton crop would not hamper the two businesses.
He said the company had been quick to move its manufacturing base to Hubei, China's main grain and cotton producing province, and that it had not been adversely affected by the cotton shortage.
''The company's planned production has been achieved so far,'' Mr Shen said in Hong Kong following a roadshow with the territory's fund managers.
Shenzhen Gintian now has A shares and B shares listed on the Shenzhen stock exchange.