In 2018, 37,6% of total textiles came from China, an increase of 3,5% over 2017. Clothing exports accounted for 31,3% of the world’s total. These figures were announced by Xu Yingxin, chairman of Intertextile Shanghai Apparel Fabrics co-organiser CCPIT-TEX and vice president of China National Textile and Apparel Council, in a speech on the current situation of China’s textile industry. The speech, which together with a panel discussion was part of a private round table on the 25th of September, showed that China invested 5% more into the textile industry than in the previous year, including investments into the „Belt & Road“ initiative.
According to Yingxin, during the first five years of the initiative, which started in 2013, China invested more than 6,5 billion US dollars into countries along the route, amounting to almost one third of the country’s total trade in goods. Between 2015 and 2018 the most money was invested in Vietnam, followed by Ethiopia, Myanmar, Egypt, Cambodia, Malaysia, Pakistan und Tajikistan. By July 2019, China had agreements with 136 countries along the „Belt & Road“ route, which covers three continents.
Vietnam could be one of the countries that possibly profiting from the trade war between China and the US. With a textile export market valued at around 50 billion US dollars, the US is China’s biggest export market, but in 2018, exports from Vietnam to the US more than doubled. Thailand could also benefit from the trade war, thanks to its traditional silk production and growing demand for sustainable products like pineapple and banana yarns.
According to Yingxin, sustainability is one of China’s three missions for future growth, which is witnessing slowing growth both domestically as internationally this year. After an 8% increase in textile sales in 2018, growth is slower than in past years. Focusing on sustainability, technology and innovation as well as promoting culture and rising talents are part of China’s plan for growth. Intertextile Shanghai Apparel Fabrics is also getting ready for the future. The report “The future of fashion? At Intertextile it’s communication and collaboration”, which was published shortly after the trade show’s September edition, provided information about events, exhibitors and products connected with innovative environmentally friendly solutions for the industry. With the “All About Sustainability” area, the Fashionsustain conference and Testex’s digitalisation tools for the industry, Intertextile Shanghai Apparel Fabrics gave new inspiration for the fashion of the future.
#Intertextile Shanghai Apparel Fabrics #China #Chemical fibres #Textiles #Fabrics #Belt & Road #Sustainability #Exports
Find more information here:
- Trade Show