Some of the very latest news reports about China are food for thought for the Cassandras, who have predicted erosion in the textile world of this country. According to the China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT), man-made fibre fabric exports during March amounted 1.22 billion metres, soaring 140.83 per cent over that of the previous year. According to the China Customs, cotton imports during April amounted to 224,400 tonnes, up 1.08 per cent on March, but down by 47.92 per cent from the same period last year.
According to the China National Bureau of Statistics, man-made fibre output during April amounted to 3.7 mt, up 3.35 per cent on March and 7.9 per cent as compared to the same month in 2013. The Chinese textile industry invested CNY779.3 billion in fixed assets in 2012. This is in line with one of the priorities under the China governments 12th Five-Year Plan (2011-15) to raise technological advancement and improvement in craftsmanship and equipment to an international level for the textile and other industry sectors. As such, the development and application of high-technology fibres and environment-friendly technologies will be the focus of Chinas textile industry in the coming years.
Against this background, the fourth mega show of ITMA ASIA CITME 2014 opens in Shanghai in the middle of June. Over 1,500 exhibitors from over 25 countries is certainly a record of sorts. The show undoubtedly continues to be the unrivalled marketing platform for textile machinery manufacturers seeking to tap the China market. Chinas domestic demand for textiles and garments is expected to maintain a steady growth rate in view of the development of the national economy, progress in urbanisation and rising income levels. This will continue to be the main driving force for the development of the textile industry. According to a forecast by the Global Industry Analysts (GIA), the global market for textile machinery is poised to reach $22.9 billion by 2017.