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'2014 could see consolidation in Chinese textile industry'
Jan '14
The year 2014 could see further consolidation in the Chinese textile industry, according to experts.
There is a strong trend among large operating entities in the Chinese textile industry to extend their industrial chain both in upstream and downstream, Zhang Xian, secretary-general of China Textile Import and Export Chamber of Commerce (CCCT) said on the sidelines of the 2014 China International Textile Asia Forum.
Xian said clothing manufacturers are now extending upstream to fabric manufacturing and supplying, while they are also extending to manufacturing of different varieties of apparel in the downstream.
Xian added that the textile industry consolidation would be more evident and industry concentration would significantly enhance in 2013.
This would result in advantages of scale, faster pace of product development, decrease in costs, and other benefits making the industry more competitive.
According to a relevant survey released by the China Textile Industry Association, 40 percent of small and micro cotton factories shut down in 2013, which shows that the concentration of the industry is in progress.
2014 may see further closing down of small and medium textile enterprises in China, Xian predicted.

Fibre2fashion News Desk - India

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