Home / Knowledge / News / Textiles / Textile sector shifting towards becoming global powerhouse

Textile sector shifting towards becoming global powerhouse

23
Dec '09
The textile industry has always been a traditional pillar industry of China's national economy and an important livelihood industry, it is also an industry with clear advantage in international competitiveness and has played a major role in expanding exports, creating jobs, increasing income of farmers and promoting urbanization.

Since late last year, China's textile industry has encountered unprecedented difficulties created by the international financial crisis. In this regard, the Chinese government in order to help the textile and clothing sector to face the impact of the crisis, raised export tax rebate rate four times from 11 percent to 16 percent.

In April of this year, the State Council promulgated the "Structure and revitalization plan of textile industry”. The industry has achieved noticeable results, as its major economic indicators have steadily increased in production growth, fixed asset investment, efficiency of the sector.

In October, added value of textile industry increased by 11.8 percent, an acceleration of 2.2 percentage points from the previous month, export delivery value gained by 0.1 percent, achieving a positive growth for the first time in 11 months since the end of last year. In November, added value of textile industry promoted by 11.2 percent.

In the process of responding to the international financial crisis, China's textile industry is committed to transformation and upgrading, making efforts to maintain growth and structural adjustment, these efforts and measures have laid a solid foundation for the industry to achieve the shift from being a large textile country into a great textile power.

Fibre2fashion News Desk - India


Must ReadView All

Vietnamese side of the border crossing with Hekou, China. Pic:  Klodien | Dreamstime.com

Textiles | On 27th Nov 2021

Efforts on to boost trade between Chinese & Vietnamese provinces

Trade agencies of Lao Cai province in the northwest region of Vietnam ...

Pic: Shaja | Dreamstime.com

Textiles | On 27th Nov 2021

US’ imports of polyester textured yarn to drop in coming months

The US’ imports of polyester textured yarn of HS code 540233 are...

Pic: Tatiyana Akimova | Dreamstime.com

Textiles | On 27th Nov 2021

Sri Lanka’s textile & garment exports on path to cross $5bn this year

After registering a steep fall of 21 per cent year-on-year to $4.423...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Asmita Marwa, Asmita Marwa Design

Asmita Marwa
Asmita Marwa Design

Indian fashion designer Asmita Marwa has been rated by Vogue as one of the ...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search