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Future portends good times for textile machinery producers
02
Jun '11
After years of rapid development, China's textile machinery industry has gradually formed a more perfect supporting system for machinery and parts production, which has made important contribution to textile industry.

Textile machinery industry is an important part of textile industry and plays an important role in promoting development of textile industry. The industry has accelerated the upgrade of textile machinery industry as a whole.

According to statistics, from 2004 to 2010, China's clothing and footwear industries, achieved an average compound growth of 40.64 percent of net investment in fixed assets per year.

The industries actually completed investment of 137.09 billion Yuan in fixed assets in 2010, an increase of 32.96 percent year on year, maintaining a high growth rate.

Investment in fixed assets will continue its high growth trend in foreseeable future, which opens room for the growth of textile machinery.

Moreover, in recent years, labor costs have rapidly increased. The average wage of workers in the clothing and shoes industries which was 1000 Yuan / month in previous times, has now rapidly increased to 1,500 Yuan/ month, or even higher.

This has increased the pace of modernization in these sectors. It is worth noting that the trend of small and medium sized machinery being replaced by large-scale textile machinery has become increasingly evident.

Textile mechanization has great significance for enhancing international competitiveness of textile industry, optimizing structure of textile industry, and accelerating the pace of becoming a textile power.

All these factors portend good time for the machinery producers in the future.

Fibre2fashion News Desk - China

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