Adjustment of technical structure and raising added value of products will be the center of attraction for China's current adjustment of textile industry.
Economic Operation Bureau of the State Development and Reform Commission (SDRC) released a report that stated textile industry shall give priority to sharpening the edge of competition of the whole sector and not simply stress the overcapacity of production, as it differs from the structural adjustments of other industries.
Textile industry has been listed by the state with potential overcapacity, mirroring the true competition on the market along with several other industries.
For Stepping up Structural Adjustment and Promoting Industrial Upgrading of Textile Industry, ten Chinese state departments including SDRC, the Ministry of Finance, and the Ministry of Science and Technology have jointly issued a circular in order to give importance to several issues detailed below.
The curb by resources and environment has carried the deep-rooted problems of the industry to the open, mainly indicating the weak capability in independent innovation and structural contradictions.
China's textile industry has made inadequate investment in research and development (R&D) to account for merely less than 1% of the total sales, and high-tech and high-end textile equipment mainly depends on import.
The products are processed with imported brands.
On the other side, the slow development of raw materials has led to expansion of shortage of such raw materials as cotton and chemical fibers.
marketing@alchempro.com
