Home / Knowledge / News / Textiles / Textile industry becomes survival of fittest
Textile industry becomes survival of fittest
09
Mar '09
According to a recent survey in Shandong province, it is becoming a matter of the survival of the fittest in the textile industry, with a few falling by the wayside unable to take the brunt, while others are becoming more competitive.

However, the impact of the current international financial crisis seems to be deepening further, and analysts predict that the most difficult period of China's textile industry is yet to come and is expected to appear in the second quarter of this year.

At present, Shandong Province has nearly 30 million spindles and nearly 2 million workers, with rural migrant workers accounting for more than 70 percent. The number of big textile and garment companies reached 4,933 in 2008.

The textile economy of the province ranks among the top three in the country and from amongst the rankings, yarn and cloth output ranks first, knitting wool second, garment manufacturing third and the petrochemical industry at fourth place.

The real problem faced by the textile and garment industry in Shandong is the squeeze on credit, which is creating problems in implementation of orders received from their overseas buyers, in turn disrupting the whole textile chain in Shandong.

According to a revival plan, the revenue of large scale companies is estimated to touch 900 billion Yuan by 2011, an average annual increase of 17 percent or more and will have at least one company with turnover above 100 billion Yuan.

Further, it proposes to have twenty brands, each with sales of over 1 billion Yuan, with export proportions of these brands increasing by 10 percent. During the period, the province will concentrate on providing all help needed by the sector.

The Shandong Province Textile Industry Association recently conducted a survey among 30 leading textile enterprises in the province of which 98 percent have orders in hand, but at prices which they may not be able to sustain for long.

The textile industry in Shandong is the traditional pillar of its economy and has played an important role in creating jobs, increasing income of farmers, earning foreign currency from exports, promoting market prosperity and urbanization.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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


May 2018

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

news category


Related Categories:

Advanced Search