The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held in New York.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
China has witnessed rapid economic development over the last 30 years, which has improved people’s standard of living, said Lei Zhaohui, deputy general manager of Hebei Shengyuan Textile Co. Ltd.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
As a result, Chinese textile enterprises are facing problems of high labour costs, while the costs of raw material and energy have also significantly increased during the period, he added.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
According to Lei, China’s textile industry needs substantial upgradation at this juncture. First, the textile enterprises need to adjust their product structure by switching from manufacturing of low value-added products to high value-added products.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
Second, there is need to improve the level of refinement, especially by enhancing managerial and technical capabilities.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
Third, there is a need to integrate the complete textile industrial chain by establishing close ties between the upstream and downstream, from raw material like cotton to the final brand, as well as from R&D to sales. There should be strategic cooperative relations throughout the entire textile and garment value chain.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
Lastly, there should be active expansion in the field of marketing. Textiles and garments need to be produced and marketed for medical, construction and industrial sectors, besides the conventional ones. The industries should also focus on aerospace and other strategic emerging industries, where textile fibre applications are widely used and it can give a new impetus and support to the Chinese textile industry.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
Speaking at the Forum, China National Cotton Reserves Corporation (CNCRC) official Liu Hua said since China’s accession to the World Trade Organization (WTO), the domestic textile industry has developed rapidly.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
Liu added that rapid expansion of textile production capacity meant increased demand for cotton.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
However, owing to China’s cotton purchase and storage policy implemented for the past two years, there is big price difference between domestic cotton and international cotton.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
In the given scenario, Chinese textile enterprises need to speed up the pace of technological innovation, and undertake overall restructuring and upgradation.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
The Forum was jointly organized by CNCRC and Intercontinental Exchange.
The Chinese textile industry as a whole needs to upgrade completely, said participants at the China Cotton and Textile Industry Development Forum held#
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