Innovation key to Chinese textile industry future

By WTiN
Mon Feb 8 2010, 10:43 AM UTC

Chinese government intervention helped stem the worst effects of the recession on its textile industry, according to speakers at the China Textile Round Table Forum 2010 entitled “Structural Adjustment, Innovation & Development”.

Yao Jingyuan, chief economist of China’s National Bureau of Statistics made a speech entitled “2010 China’s Macroeconomic Trends and Policy Measures”. He said that facing the financial crisis, the Chinese government made a scientific assessment of the international and domestic situation and introduced a package of policies, including implementation of a proactive fiscal policy and moderately loose monetary policy, to maintain growth, expand domestic demand and benefit its population’s livelihood.

He predicted that in 2010, China’s service industry would develop better and faster; domestic consumption would grow and innovation and technological progress would contribute more to the economy.

Thomas Babacan, CEO of Oerlikon Textile delivered a speech entitled “Innovation - The Key to Success during the Crisis”. Focusing on the textile machinery industry and enterprise development, he communicated key points concerning responding to global challenges to ensure growth of China’s textile industry.

On the forum, Xu Wening, President of China Cotton Textile Industry Association, Zheng Zhiyi, President of China Chemical Fiber Industry Association, Zhu Minru, Director General of China’s Industrial Textiles Association and Yang Shibin, Director General of China’s Knitting Association, respectively, explained on the operation of various industries in 2009 as well as the key points of structural adjustment, innovation and development of the industry in 2010.

In their view, the Chinese textile industry needs to strengthen independent innovation, accelerate technological transformation, speed industrial restructuring and upgrading and consolidate the textile industry’s position.

Hosted by China Textile Economy Research Centre and China Textile magazine, sponsored by Oerlikon Textile, and supervised by China National Textile and Apparel Council (CNTAC), the event was held on 27 January 2010 at the International Conference Centre of KunLun Hotel in Beijing.

 

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