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Chinese textile & apparel exports to cross $300bn by 2015
Mar '13
As per the Chinese 12th Five-Year-Plan, exports from the textile and apparel industry will cross US $300 billion by the end of the plan, growing at an average annual growth rate of 7.5 percent.
The 12th Five-Year-Plan envisages that the big and major textile and clothing companies will achieve an average annual growth of 8 percent in industrial added value during the period. 
Domestically, rising costs, resources, environment and other elements of constraint will become important challenges for China’s textile industry in the plan period.
From an international perspective, increasing uncertainty of world economic growth and demand downturn will have to be taken accepted as normal in the period.
Currently, the development of the textile industry is facing double squeezes of control in high-end products from developed countries and low-cost competition from developing countries. 
In 2010, China's textile fiber processing capacity was 41.3 million tons, accounting for more than 50% of the world capacity.
In the same year, textile and apparel exports registered $206.5 billion, accounting for more than 30% of world textile and apparel trade, while industry-wide employment reached 20 million people.

Fibre2fashion News Desk - China

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