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Ecommerce to drive development of Chinese textile industry
21
Dec '13
After several years of development, China currently possesses the world’s most complete textile industrial chain, and hence, the competitive advantage of China’s textile industry is obvious.
 
This year is the third year of the implementation of the country’s Twelfth Five-Year Plan. But, over the last two years, the Chinese textile industry had to face problems like sluggish demand, rising labour costs, the impact of a wide difference in prices of domestic and imported cotton, RMB appreciation, tight monetary policy, and other factors.
 
In this situation, the operation of the Chinese textile industry became difficult. While some of the companies closed down, some other enterprises adopted technological innovation, structural adjustment, and brand building exercises and achieved significant results, and in the process a key step was taken towards transformation of the industry from scale to quality and efficiency.
 
Moreover, the development of e-commerce for upgrading of traditional textile industry has opened up new avenues in recent years. It has enabled the Chinese textile industry to overcome geographical restrictions and has opened a broader market.
 
As ecommerce has become the most growth potential channel, textile enterprises are changing their business model, as they have realized the importance of ecommerce business.
 
Ecommerce is expected to drive the implementation of the rapid development of textile industry by accelerating the exchange of information, strengthening the integration of textile enterprises and enabling them to withstand the global market competition by enhancing response speed, lowering costs, improving efficiency and enabling expansion of markets.
 

Fibre2fashion News Desk - India


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