Textile industry current situation

In 2016, the export situation was still not improved, and the same data from the customs showed that the cumulative trade volume of textile and apparel in China was $290.6 billion in 2016, down 6.1% year-on-year.The following analysis of the current situation of textile industry.

Textile industry is the traditional pillar industry and important livelihood industry of China's national economy, as well as the industry with obvious international competitive advantages. It plays an important role in prospering the market, expanding export, absorbing employment, increasing farmers' income and promoting the development of urbanization.Textile industry includes cotton textile, chemical fiber, hemp textile, wool textile, silk, textile knitting industry, printing and dyeing industry, and its main raw materials are cotton, cashmere, wool, silk cocoon, chemical fiber, feather down and so on.The subdivided industries of textile industry mainly include garment industry, household textiles and industrial textiles.

According to the national bureau of statistics, the fixed asset investment in textile industry increased from 105.922 billion yuan in 2005 to 6,00160 million yuan in 2015, with an average annual growth rate of 18.94 percent. In recent years, the growth rate has slowed down, but the overall growth rate still remains above 10 percent.

In China, industrial textiles emerged in the 1950s. After half a century's development, industrial textiles industry has become one of the three pillar industries of China's textile industry.Since China joined WTO in 2001, the industrial textiles have made great progress.