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Chinese textile machinery sector tops global charts
02
Jun '10
With the rapid development of textile industry, China's textile machinery industry also got an opportunity to grow and develop and in the process became the world's largest textile machinery manufacturer.

But the scale of China's textile machinery enterprises is small in general, with low technological content of products. At present, China-made textile machinery and equipment account for 80 percent of domestic textile machinery market.

The financial crisis has exposed shortcomings of the industry, such as low technical content of existing products, low profitability; therefore, it is imperative to carry out industry adjustment and transformation.

From export situation, China's textile machinery exports are mainly concentrated in Asia, and since many countries are facing adjustment of product structure, demand for high-end and technologically superior textile machinery will gradually expand.

China's industry has obvious advantages compared with textile machinery manufacturers in India, Pakistan, Bangladesh and Turkey, particularly in cotton spinning equipment, polyester processing and printing and dyeing machinery.

This year is a crucial year for textile industry and enterprises to increase structural adjustment and realize industrial upgrading. The government has specified that the percentage of high-tech products in sales should increase.

This increase, according to the policy paper, should be 60 percent from the original 40 percent and the proportion of funds allocated to research and development fund as a percentage of sales should increase from 2 percent to 5 percent.

Fibre2fashion News Desk

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