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Textile machinery industry heads for technological progress
06
Aug '08
China is building an innovation-oriented industry in the country and is revitalizing the equipment manufacturing industry. With such an opportunity, relevant state ministries and commissions under China Textile Industry Association, Textile Machinery and Equipment Industry Association, and other trade bodies are sparing no efforts to promote scientific and technological progress of the textile machinery industry.

The Government of China is hopeful that with the development and promotion of focused projects during the period of 11th Five Year Plan, the research and development (R&D) investment ratio with regard to the aggregate sales of textile machinery industry would move up to five percent of which two percent would flow in from the Government.

A five percent investment ratio would mean that investments made by the textile machinery industry for research and development would register a considerable increase in the 11th Five Year Plan period.

Fibre2fashion News Desk - China

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