China's textile machinery industry becomes world's largest textile machinery manufacturer

From export situation, China's textile machinery exports mainly concentrate in Asia, many countries in Asia also face adjustment of product structure, so demand of high-end and complete sets of textile machinery will gradually expand. China's industry has obvious advantages compared with textile trade powers of India, Pakistan, Bangladesh, Turkey, particularly in cotton spinning equipment, complete sets of polyester equipment and printing and dyeing equipment, therefore, it is an important way to improve international competitiveness of the industry by accelerating implementation of gradient transfer of products, increasing direct investment in the above-mentioned areas, vigorously implementing export strategy, and seeking for new ways of upgrading technology.

This year is a crucial year for textile industry and enterprises to increase structural adjustment and realize industrial upgrading. China Ministry of Industry and Information Technology specifies that the percentage of high-tech products in sales should increase from original 40 percent to 60 percent, the proportion of research and development fund of high-tech products in total corporate sales should increase from original 2 percent to 5 percent each year.