5 year journey from textile giant to textile power force
26 Dec '06
3 min read
After entering WTO for five years, China's textile industry has changed the past growth mode of volume expansion into paying more attention to brand value enhancement. Therefore, China has gradually transformed from a textile giant into a great textile power.
In the past five years, as one of the most benefited industry, in an open international trading system, country's textile industry effectively changed the economic growth mode by significantly enhancing the ability of independent innovation, industrial scale and competitive edge.
As the global industry gradually accelerated shift pace, as well as the rapid warm-up of domestic market economy, the technical level of China's textile industry substantially improved. In the past five years, the net growth of fixed assets of textile industry was about 68 percent; sales value growth was about 1.74 times.
In 2005 China suffered various trade barriers and adversities set up by both developed and developing countries. In addition to access to overseas markets through technological advancement, textile industry also aggressively landed on non-quota markets.
In 2001, China's textile exports registered US $53.44 billion, while in January-October 2006, amid trade frictions, the appreciation of the RMB exchange rate, lowered export tax rebate rate and other adverse factors, China's textile and garment trade value still rapidly rose to over $135 billion, the annual value is estimated to exceed $145 billion. In the past five years, exports increased by 1.67 times.
marketing@alchempro.com
