Home / Knowledge / News / Textiles / China's textile industry in need of urgent policy support
China's textile industry in need of urgent policy support
26
Feb '14
The textile industry in China is in need of an urgent policy support, according to a recent report “CCID Outlook 2014 - China Industry and Information Technology Development Analysis and Forecast Series”, released by China Center for Information Industry Development (CCID), a Ministry of Industry and Information Technology think tank.
 
The Outlook 2014 mentions the challenges facing the Chinese textile industry, including weak demand and heavy losses in some industries, and suggests measures for further expansion of domestic demand, including reduction of corporate tax.
 
The report suggests that measures should be taken to encourage private capital to improve financing environment of the textile industry. Secondly, it stresses on increasing investment in the central and western regions to have a positive effect on expanding domestic demand.
 
Thirdly, the report suggests strengthening domestic brand awareness and training to expand the influence and consumption of local brands and cultivate new growth points of consumption. Fourthly, it suggests increasing investment in rural infrastructure, especially in the construction of logistics and distribution system, and tap and release the potential consumer demand in rural areas.
 
To improve export environment, Outlook 2014 suggests development of export credit insurance, and expanding the reserves of commercial banks entrusted loan-lending platforms and channels.  It recommends further promotion of cross-border renminbi settlement work, accelerating the establishment of offshore renminbi trading center, and comprehensively promoting the internationalization of the renminbi, to reduce the impact of RMB appreciation.
 
Thirdly, it recommends active promotion of bilateral and multilateral trade cooperation, and strengthening trade links with emerging economies to reduce dependence on the US and Europe for export. Fourthly, it stresses on good inspection, quality certification and other public services, promoting China’s textile products with international quality standards, and enhancing product credibility and visibility.
 
It also speaks about the role of trade associations and other intermediary organizations, especially in establishment of export monitoring and early warning mechanism to help and guide enterprises to effectively deal with trade friction, and reduce export risks.
 
It suggests creation of a favourable legal environment and integrated security conditions for China's textile enterprises to invest overseas. It advises enterprises to carry out energy saving, and comprehensive utilization of resources to enhance the capacity and improve the efficiency of their resource use.
 
Importantly, it recommends cancellation of cotton import quotas andsliding tax system to protect the interests of farmers, as well as reform of the temporary storage of cotton and import management system.
 
Lastly, the report advises textile enterprises to effectively reduce the tax burden and strengthen the industry run monitoring and early warning.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Kai Pilger from Pexels

Textiles | On 24th Apr 2018

Pakistan’s textile exports up 7.77% in July-March FY18

The value of textile and garment exports from Pakistan increased by...

Alliance to form joint entity for safety in factories

Apparel/Garments | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Interviews View All

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Urmil Arya

Sushila International, a well established textile organisation established ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search