Hubei 6 Measures to Optimize Structure of Textile Industry (China)

Facing intensive competition and increasing pressure of resources and environment, Hubei Province timely adjusts its restructuring pace by taking 6 measures to ensure the smooth transformation of textile industry.

1. Promote the implementation of textile industry-related policies. It will continue to give support to those textile projects that the government encouraged to develop; take strict control over government-restricted or –prohibited projects; speed up the dismantling of obsolete textile equipment and prevent the eliminated equipment from being moved to other places.

2. Give greater capital support. It will put central and local financial policies into practice and give support to the textile industry in collaboration and reorganization; application and development of new textile materials, high-end textile equipment and technical textiles; energy-saving and discharge reduction; cultivation of independent brands; construction of public platform, etc. Special support will be given to the construction of textile technology innovation platform, key technology tackling projects and new product development projects.

3. Provide greater financial support. Financial departments will give greater credit support to those enterprises that operate relatively well and that are competitive on market; support eligible enterprises to raise money through the listing of shares or through the issuing of corporation bonds; encourage credit guarantee institutions to provide small- and medium-sized firms with credit guarantee and capital-raising services.

4. Take more incentive measures. The provincial government will reward those textile and garment enterprises that have won quality prizes at state- or provincial levels or won the title of "famous brand in China".

5. Speed up the construction of public service system. It will speed up the construction of public technological innovation and service platform for textile industry and provide enterprises with all-around services including product development, quality inspection, personnel training, information technology, e-commerce and modern logistics.

6. Give full play to the role of intermediate organization. The provincial government will support intermediate organizations such as industry association and chamber of commerce to play the role of bridge, strengthen industry self-discipline and enhance foreign exchange. It will also support these organizations to launch the campaign of selecting "top ten textile and garment brands in Hubei Province" and "top ten fashion designers in Hubei Province".