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Textile machinery sector aims to attain global leadership
04
Aug '11
China's textile machinery market has shown a more robust growth since the beginning of 2011.

The promulgation and implementation of the" Outline of Scientific and Technological Progress of Textile Industry in Twelfth Five-Year Plan" once again puts forward, the goal of Chinese textile machinery industry to become a world textile machinery power by 2020.

In accordance with the plan, sales revenue of textile machinery industry will reach 120 billion Yuan by 2015, representing an average increase of 7.0 percent per year. Market share of domestic textile machinery will touch 85 percent.

Among main textile machineries, more than 30 percent will reach advanced international level over the same period, of which, market share of main products (spinning machinery and chemical fiber machinery) will reach more than 50 percent.

Fibre2fashion News Desk - China

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