Home / Knowledge / News / Textiles / Olympic clamps down growth of textile industry
Olympic clamps down growth of textile industry
29
Jul '08
Although Beijing is basking in the glory of celebrating Olympics 2008, many of the companies are paying heavy prices for this ceremony.

Most of industries in China are going from strength to strength for the past few years, but loosing out on environment.

Beijing is considered as the one of the most polluted cities in the world. The city wears a veil with thick smog; thanks to nearby factories belching out pollution. As the country prepares itself for summer Olympics, organizers are paying heed, to the fullest, to clear the pollution over the Beijing sky.

In order to combat the constant pollution, the authorities have ordered a temporary shut down of some of the factories.

Factories in six surrounding provinces and municipalities across northern China have already shut down for a few months in order to clean up Beijing's environment for the Olympics scheduled to open on August 6. Authorities have spent around 140 billion yuan to curb the pollution.

Petrochemical groups operating in the region were asked to cut their production for reducing emission. Most importantly those factories who failed to meet the emission standard, were asked to shut down their operations.

Experts predict that due to such steps, on one hand, businesses will suffer; the economy will also not be spared. The textile industry which is considered to be a major contributor in the pollution is going through a miserable state.

Already the industry is facing difficulties due to rising input cost, and now order of production cut is taking its toll on the textile sector. This situation is affecting the far off countries that depend on imports from China.

Most of the neighbouring nations count on the low priced imported raw materials from China. With most chemical and dye factories closing down for Olympics, importers are facing a serious shortage in supply, and this situation is leading to price hike, which in turn is affecting their profits margins.

So, a doubt arises, will this suppression of production slow down the economy?

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Leisure sneakers lead US footwear sales: The NPD Group

Apparel/Garments | On 21st Jun 2018

Leisure sneakers lead US footwear sales: The NPD Group

Leisure sneakers dominated US footwear sales between May 2017 and...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Ravindra Jain, Ashish Baid

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

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Suresh Patel
Sidwin Fabric

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Karan Arora
Karan Arora

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

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


June 2018

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

news category


Related Categories:

Advanced Search