Chinese textile exports grow, but loses market share

Export scenario for China’s clothing and textile industry does not seem to be positive, which can be seen in that the industry posted a meagre growth during initial nine months of the current year, Gao Yong, Vice President of the China Textile Industry Association said.

According to the data provided by association, indicative of a rise of 1.04 percent, the sector’s exports for first three quarters of the current year grew to US$ 192.69 billion.

In spite of an overall rise in its clothing and textile exports, China experienced a decline in its share in key foreign markets, which necessitates a more rational analysis of the actual problems faced by the industry, Mr. Gao said during a national textile conference.

The industry should work on technology upgradation to ensure better product quality and focus more on leading brands, so as to survive external adversities like rising cost of labour and material and waning global demand, the association said in a report.

Mr. Gao informed that to ensure better product quality, the association would augment training and technology upgrades for producers in the sector.

Source: Fibre2fashion