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Good prospects for Chinese textile machinery industry
Feb '14
There are good prospects for the Chinese textile machinery industry in near future and the development of the sector is imperative, according to industry analysts.
As an upstream industry of textile industry, the textile machinery trade depends entirely on the extent of boom in the textile industry.
In recent years, there has been a rapid growth of China’s economy, and GDP growth remains at a high level. So, the textile industry will also maintain rapid growth, aver experts.
The industrial output value of the textile industry accounted for more than 9 percent of the GDP in 2004. Although this has slightly declined, it still remains above 7 percent level.
In addition, Chinese textile enterprises are currently upgrading their production equipment, which also gradually increases demand for textile machinery.
Experts predict that by 2015, Asia would become the world’s fastest growing markets, which brightens the future prospects for the Chinese textile machinery industry.

Fibre2fashion News Desk - India

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