SHIJIAZHUANG, May 8 (Xinhua) -- Indices for cashmere price and related industries were launched Wednesday in China's cashmere production powerhouse of Qinghe County, in the northern province of Hebei.
The indices, which will be released every half month, are sampled from 24 representative cashmere companies in Qinghe, and will reflect the price and prospects of the market.
The cashmere price index is based on the market performance in June 2018 with 100 basis points.
"The release of the index will play an important role in promoting the development of the cashmere industry in Qinghe and even in China as a whole," said Wang Junhong, Party chief of the county.
More than 56,000 tonnes of de-haired cashmere is produced and processed in Qinghe each year, including 50,000 tonnes of pashmina, which accounts for 90 percent of the total national output.
The county also produces 7,000 tonnes of cashmere yarn and more than 20 million items of cashmere products each year. Annual output value of the industry exceeds 20 billion yuan (297 million U.S. dollars).