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Textile machinery imports heat up!

16
May '07
In 2006, China's import situation of textile machinery equipments showed clear signs of revival, changing its downward trend in the previous two years.

Imports of 2006 whole year reached US $41 billion, an increase of 19.05 percent over the previous year. Annual import growth trend has maintained its momentum.

According to customs statistics, imports of textile machinery in the first three months of 2007 reached $1.098 billion, an increase of 35.26 percent.

By the year of 2003, China's imports of textile machinery equipments remained at about $4.5 billion.

However, subsequent imports of equipments gradually declined. In 2004 imports marked $40 billion. In 2005 imports scored $3.5 billion.

China has about $80 billion of textile machinery market capacity. Gradually home-made equipment share in domestic market starts to take over imported equipments.

Industry insiders believe that this change stems from two aspects:

Firstly, technology and manufacturing capability of domestic textile machinery enterprise have promoted, many home-made devices can replace imported ones.

Secondly, world renowned textile machinery enterprises have invested and set up factories in China, making textile enterprises being able to buy equipments in domestic market instead of purchasing imported equipments.

From 2005 onwards, renovation momentum in textile industry had been very obvious and it was more prominent in 2006.

It is reported, that in 2006, China started the project of 'special scheme for revitalizing equipment manufacturing engineering', which has included 16 sectors within the textile machinery industry. Projects involving textile machinery products will be gradually put into execution this year.

Fibre2fashion, News Desk - China


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