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Textile machinery industry to continue with development
17
Jun '08
The textile machinery market of China is still in its developmental stage for the year 2008 and even though some sector may witness a recession, the overall industry is likely to stay buoyant.

For the ongoing year, the cotton spinning machines may enter into a period of adjustment while the low-end cotton spinning machines will find it difficult to occupy a large market share.

Since the textile machinery industry serves the entire manufacturing chain, a contraction in one of the sector due adjustment period will not pull back the entire industry.

With gradual development and innovation in the textile machinery sector, China has been able to achieve an annual export growth rate of 30 percent in recent years. The foreign funded enterprises accounted for about 43 percent of the total exports in 2007.

Experts believe that even in the future there will be a massive development in the machinery industry which is expected to take exports beyond the mark of US $1.8 billion in 2008.

Fibre2fashion News Desk - China

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