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Textile Industry Council lists five focus fields of investments

15
Dec '08

It is learned from the China Textile Industry Council that after the introduction of stimulating measures by the state to expand domestic demand, the textile industry has recommended financial assistance focusing on five fields with the investments totaling to more than 20 billion Yuan. These recommendations are currently awaiting approval.

According to the China Textile Industry Council, the five areas of focus are,

1.High-performance synthetic fibers. Application and development of functional fibers in the industrial chain, including application and development of industrial textiles.
2.High-end clothing and textile fabrics.
3.Energy-saving reductions in the textile industry, including clean production, water conservation, energy reduction, environmental protection.
4.Natural fiber products with high added value and advanced technology development;
5.10 sets of technical textile machinery and equipment; public service platform for the textile industry (including integrated services of industrial clusters, building of enterprise information technology, brand building and market development).

Related officials from the Industry Association said that the list of projects has been forwarded to National Development and Reform Commission which will review the same before giving its approval. Even after being approved, the state will grant only 10 percent assistance and will have to depend on banks for the remaining funds.

The Council said, at present, it has submitted 128 projects to the Development and Reform Commission for a total investment of Yuan 13.2 billion and 52 projects to the Ministry of Industry and Information Technology involving a total investment of 10.9 billion.

It is reported that more than 40 percent of the state's new investment of 100 billion Yuan for the fourth quarter has been distributed into projects in six main areas in livelihood; agriculture, infrastructure, medical, culture and education, ecological environmental protection, independent innovation as well as post-disaster re-construction.

Fibre2fashion News Desk - China

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