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The development of Chinese textile
May 18, 2018

The development of Chinese textile

China is a big country in the production and export of textiles. After years of development, China’s textile industry has a clear competitive advantage. It has the most complete industrial chain in the world, the highest level of processing and support, and a number of developed industrial clusters respond to market risk self-regulation. The continuous enhancement of capabilities has provided a solid guarantee for the industry to maintain a steady pace of development.


From the perspective of the international environment, the international market still has much room for development and opportunities. With the expiry of China-EU textile quotas at the end of 2007 and the end of China-US textile quotas at the end of 2008, the quota-free era of China's textiles is approaching. The area that accounts for more than 60% of the global warping in textiles  market will be fully open, and will bring Chinese textile trade to China. Great opportunity. In the next few years, the world economy will still be in the rising range and will certainly promote the growth of international trade. This will give China's textile and apparel export growth a favorable international market protection.


From the domestic economic environment, domestic demand will become an important driver of industry growth. About 80% of Chinese textiles and weaving machine are consumed domestically. With the sustained and rapid growth of the domestic economy, the stable increase in residents' income will drive the further development of the domestic demand market.


Chinese textile companies should overcome the difficulties of rising raw materials, appreciation of the renminbi and adjustment of export tax rebates, seize the opportunity of the development of the textile industry, increase the concentration of industries, curb the blind expansion of inefficient production capacity, increase the construction of characteristic industrial parks, and strengthen independent innovation. The pace of upgrading the brand building of China's textile industry, industrial adjustment and upgrade. Make China a big textile country into a textile power.


Uncertainty in the global textile market is increasingly uncertain. This is related to the global credit crisis and the United States.

The trend of slowing economic growth in the European Union is consistent, and it will have an impact on the clothing retail industry. The drastic depreciation of the US dollar, the ups and downs of crude oil prices, and the imminent lifting of restrictions on China's textile exports to Europe have all announced major changes. Affected by the slowdown in the U.S. economy, corporate sales will decline. Since the United States and Europe may implement new trade barriers, the purchase of the global textile industry may change significantly. In addition, in less than three months, the quota system for textile and clothing products will end. This change in the international textile and clothing trade system is the latest challenge faced by textile and garment companies. This not only brings hope and opportunity, but also brings great risks.


With the shrinking demand in the international market, many textile companies have brought unprecedented pressure. In 2008, China's textile industry is suffering the most difficult year in the past decade. As a result of various factors such as the US subprime mortgage crisis, the appreciation of the renminbi, the reduction of export tax rebates, tight monetary policy, adjustment of processing trade policies, and rising labor costs, the textile industry is facing tremendous difficulties and challenges. Under such circumstances, many textile industry production enterprises fell into the dilemma of difficulties in production and operation. They were struggling on the brink of losses. The companies closed down and stopped production and semi-discontinued production. These have created serious challenges for the textile industry. Although the textile export tax rebate rate has increased, the country’s determination to eliminate low-level products and enterprises has not changed. Independent innovation and cost savings are the best ways for the textile industry to overcome its difficulties.


From the perspective of the operation of the domestic textile industry, from January to September 2008, the total investment in fixed assets of the textile industry in China was completed at RMB 20,269 million, an increase of 10.15% over the same period of 2007. From January to September 2008, textile enterprises above designated size in the textile industry in China cumulatively produced 159.7992 million tons of yarns, which was a year-on-year increase of 9%; cumulative production of cloth was 41.732 billion meters, an increase of 6.33% year-on-year; cumulative clothing production was 15.159 billion, an increase of 5.92% over the same period of last year; The cumulative production of fibers was 17,797,800 tons, an increase of 2.44% over the same period of last year. From January to September 2008, China's textile industry exports reached US$140.285 billion, an increase of 13.06% over the same period of 2007; imports reached US$14.194 billion, an increase of 1.59% over the same period of 2007. It is expected that the textile industry will maintain stable growth in the next 5-10 years, and structural adjustment will permeate the entire development process. It is estimated that by 2010 China's textile fiber processing volume will reach 36 million tons, and in the next few years, the growth rate of production capacity and output of the chemical fiber industry will remain between 7% and 15%.


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    Add: Changjiang Road, Chao Tian Industrial Zone, Shilou Town, Panyu District, Guangzhou, Guangdong, China.
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