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Zhejiang plans research bases for waning textile cos
Sep '08
It has been noted that many enterprises of Zhejiang, one of the key business provinces of China, have been struggling to keep up their performances.

Infact, statistics show that in the first half of this year, over 10,700 major companies in the region incurred heavy losses and most of them belonged to leather industry.

Besides, over 1200 enterprises closed down in this year, alone.

Recognizing the gravity of the situation, local Government has decided to collaborate with some Universities to set up 15 research bases in the province.

These bases will mainly educate and advice enterprises on the best ways to hold their ground in global market during toughest of times.

Several Universities showed their support and said that this way their research and development capabilities will get utilized for the social and economic welfare of Zhejiang.

Government said that bases could apply for allowance if their performance is impressive in next three years. However, if the bases are unable to generate the desired result then they will be ceased.

Fibre2fashion News Desk - China

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