The textile industry in the country has played an important role in improving the livelihood of Chinese people, according to China Textile Industry Association.
During the ten years since China joined the World Trade Organization (WTO) in 2000, the number of entrepreneurs in the Chinese textile industry have doubled. Compared to 13 million entrepreneurs in 2000, there were about 22 million entrepreneurs in 2010, 80 percent of whom were cotton growers. Thus, the textile industry has generated employment opportunities during the decade.
President of China Textile Industry Association Du Yuzhou said the textile industry in the country had been able to meet the increasing domestic demand. From 2000 to 2010, the share of major textile enterprises in domestic sales grew from around 67 percent to 82 percent.
Growing at an average annual rate of approximately 15 percent, China's textile and garment exports increased by 3 times in 2010 compared to 2000. In terms of the country's share in global textiles and apparel trade, it increased to more than 33 percent in 2010 from around 15 percent in 2000.
During the same period, the comparable price of local production increased 5.64 times. While the national consumer price index showed a rise of 25.53 percent during the ten-year period, the clothing consumer price index declined by 9.21 percent.
The China Textile Industry Association President said the industry will continue to innovate and expand in the domestic market, as per the requirements of the Twelfth Five-Year Development Plan.
Fibre2fashion News Desk - China
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