A worker gathers cotton yarn at a textile manufacturing plant in China’s Xinjiang Uygur autonomous region. Photo: AP
A worker gathers cotton yarn at a textile manufacturing plant in China’s Xinjiang Uygur autonomous region. Photo: AP

China to buy Xinjiang cotton, but state stockpiling won’t save mills from massive losses amid US ban

  • To help stabilise China’s reeling cotton industry, the state will buy up to a half-million tonnes of Xinjiang cotton from mills starting on Wednesday
  • But Xinjiang’s cotton-ginning mills are still likely to lose a fortune, having paid much more for raw cotton last autumn, and upstream pressure is only expected to continue

A worker gathers cotton yarn at a textile manufacturing plant in China’s Xinjiang Uygur autonomous region. Photo: AP
A worker gathers cotton yarn at a textile manufacturing plant in China’s Xinjiang Uygur autonomous region. Photo: AP
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