In 2007, Government will strictly control the investment in textile and clothing industry. Due to this, many textile and clothing units are planning to set up new production bases in foreign countries.
In 2006, sales of textile machinery stood at RMB50 billion and export value and import value stood at US $1.2 billion and $3.5 billion, respectively.
This year, textile machinery sector is expected to achieve a volume worth $8 billion.
The industry of textile machinery is capital-intensive industry and can increase the production of the machinery according to the demand in domestic market.
Fibre2fashion.com News Desk-China
marketing@alchempro.com
