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6th China International Polyester & Intermediates Forum to be held in Oct
11
Aug '09
In 2008 the financial crisis sent the world's economies into turmoil, hitting the global manufacturing industry particularly hard. The Chinese textile and apparel industry, heavily reliant on exports, did not escape unscathed. Industry giants, including Jiangxi Polyester Fiber, Jianglong Textile, Zhejiang Yuanzheng, Zhejiang Fengming, Zhejiang Zongheng and Hualian Sunshine, were all forced into bankruptcy or restructuring.

Venue & Date: 28 - 30 October 2009, Rainbow Hotel, Shanghai

In China, the polyester industry has been badly damaged by the tough economic times. The whole chain has suffered tremendous losses as prices have slumped. Under the heavy burden imposed by financial pressure and poor sales, many suppliers have had to cut operating rates. Demand from both overseas and domestic markets has shrunk considerably.

Up and down the polyester chain, petrochemical producers to textile manufacturers are looking for ways to come out from the shadow cast by the downturn. The Chinese government has taken many measures to try to revive this industry, including raising the reserve ratio and export rebate rates. At the same time, there are signs of recovery in the world financial system and crude oil prices have also risen off the bottom. All these positive factors represent opportunities; but how can the polyester industry successfully exploit these opportunities?

-Challenges go hand in hand with opportunities. Periods of financial crisis are changing the shape of the manufacturing industry. This can often reveal opportunities to improve management structures and to promote cooperation and innovation.

- The very success of the polyester industry has bred its own problems. A flurry of new paraxylene, PTA and MEG plants has threatened to upset the domestic demand/supply balance, intensifying competition to very challenging levels, in some cases. Will the new privately owned enterprises favour new ways of doing business that conflict with the more traditional price mechanisms in China? How long can industrial filament and PET bottle chip grade manufacturers expect to be able to maintain a successful industry?

What changes have taken place in the role of polyester fibres in the Chinese textile industry? Against the backdrop of a financial crisis of global proportions, where does the future lie for China's textile industry, and more specifically, what lies in store for the country's polyester industry?

This unprecedented and challenging market situation makes the Polyester and Intermediates Forum more crucial than ever as a tool to identify opportunities and expose challenges in our industry. Following on from five successful years, China Chemical & Fiber Economic Information Network (CCFEI) and Tecnon OrbiChem are jointly organizing the 6th China International Polyester & Intermediates Forum to be held on 28-30 Oct 2009 in Shanghai, China.

Tecnon OrbiChem Ltd

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