Home / Knowledge / News / Textiles / China's Xinjiang plans fund to support textile industry
China's Xinjiang plans fund to support textile industry
19
Jul '14
The Xinjiang Uygur Autonomous Region of China has planned to set up a 20 billion yuan (about US$ 3.2 billion) fund to support the textile and apparel industry in the province. This was disclosed by Yan Qin, deputy secretary-general of the Xinjiang regional government at a press conference in Beijing, reports Xinhua.
 
The fund would form part of a package aimed at increasing jobs and incomes of people and maintain social stability in the province. A portion of the fund would be contributed by the Central Government and the remaining amount would be raised by the regional government.
 
The fund would prefer those textile industries that are being set up in the southern areas of Xinjiang, and clothing and tapestry units in those areas would enjoy low or no rents for a certain period. In addition, the government would also open vocational and language training centres in southern Xinjiang.
 
Yan Qin also disclosed that Xinjiang government would subsidize domestic cotton and electricity in approved textile industrial parks. The regions would adopt strict environmental protection standards and keep a check on energy consumption.
 
A 10-year textile development plan for Xinjiang aims to create 420,000 jobs with an industrial production value of about 86 billion yuan by 2018. The plan projects these values to grow to 1 million jobs and output value to 212.5 billion yuan by the end of the ten-year period in 2023.
 
Xinjiang produces more than half of the raw cotton produced in China, but local farmers are at a disadvantage as most of the textile mills are located in eastern China, far from Xinjiang in northwestern part of the country.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

July 2017

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

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

Yes No

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

Yes No

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


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



X