Current Situation of Textile Industry

- May 22, 2019-

From the domestic economic environment, domestic demand will become an important driving force for industry growth. About 80% of Chinese textiles are consumed at home. With the sustained and rapid growth of the domestic economy, the steady increase of residents’ income will promote the further development of the domestic demand market.

Chinese textile enterprises should overcome the difficulties of rising raw materials, appreciation of RMB and adjustment of export tax rebate, seize the opportunities of textile industry development, improve the concentration of industry, curb the blind expansion of inefficient production capacity, increase the construction of characteristic industrial parks, strengthen the pace of independent innovation, enhance the brand building of Chinese textile industry, and carry out industrial adjustment and upgrading. Make China stride from a big textile country to a powerful textile country.