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China plans to double textile industrial output value
07
Jun '12
According to a new plan, the total industrial output value of Chinese big and major textile enterprises will double by 2020 from that in 2010.

Recently, China Textile Industry Association approved the outline of building a Chinese textile powerhouse by 2020.

The report proposes to integrate domestic and foreign resources, further adjust textile structure, and step towards becoming a bigger textile powerhouse.

The plan envisages the textile industry growing at an annual average rate of 12.5 percent, exports increasing by a yearly average of 7 percent to touch US $400 billion.

The plan proposes to build a modern textile industry that will meet escalating domestic and global demand, has strong international competitiveness and ability for sustainable development.

According to the report, the average growth rate of per capita clothing expenditure of urban residents in China will be about 12.5 percent and those of rural residents will be about 15 percent.

Coupled with population growth, the average annual growth of total clothing expenditure of urban and rural residents will reach 14.77 percent.

In the decade between 2000 and 2010, the proportion of Chinese fiber processing volume among the worldwide textile industry rose from 25 percent to 51 percent.

In the same period, proportion of Chinese textile and apparel exports in the world increased from 24 percent in 2000 to 35 percent in 2010.

Fibre2fashion News Desk - China

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