Recently the State Council of China has promulgated a series of industrial restructuring and revitalization plans which includes labour intensive and high export potential industries like textile apparels, iron and steel, automobile and equipment manufacturing. The Premier Mr Wen Jiabao, concerned about the impact of these plans on corporate development decided to get a first hand view of the effect.
On the morning of February 15, the Premier visited the new textile industry park in Tianjin and enquired about the sales position in one of the companies, to which the Chairman of the company replied by saying, “January sales grew by 0.3 percent and the company has new orders extending up to March”. The introduction of new measures has however instilled a confidence in the producers, added the Chairman.
While addressing a delegation of the park members, the Premier said that the textile industry is one of the traditional pillars of China's economy and at the same time provides employment to millions of people. Other than the government providing requisite support, the industry should work together and face the crisis unitedly. In his speech he put forward three expectations from the industry.
First, he said, companies should carry out timely adjustment of product mix as per requirements of domestic and international markets. Second, enterprises must strive to improve product quality, reduce costs, and improve competitiveness. Third, enterprises should tap both domestic and export sales, and actively explore new diversified markets. All these three if implemented, would help companies cruise through the crisis.
Fibre2fashion News Desk - China
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