Continuous Growth Of Foreign Investment In Textile Industry

As China's manufacturing and manufacturing costs continue to increase, the pfer of international textile industry investment and international purchase orders to other developing countries and regions is an inevitable trend.

In recent years, textile processing capacity of developed countries and regions such as the United States, Europe, Japan and Korea has also been increasing rapidly in Southeast Asia. In the long run, they will inevitably compete with China's textile industry.

Sun Ruizhe, President of the China Textile Industry Federation, recently held a symposium at the 2019 Textile Industry Symposium in Beijing that Chinese textile enterprises actively participate in the new layout of the international textile industry through foreign investment, which is conducive to ensuring the profitability of China's textile industry capital and forming a good interactive relationship with the upgrading and development of the domestic textile industry.

Sun Ruizhe said that the rise of developing countries represented by China in the new round of globalization is mainly a rise of self development and industrialization, rather than a rise of external expansion.

The rise of China's textile industry is also a "self development" rising under the driving force of endogenous growth.

According to the statistics of the Ministry of Commerce, the total foreign direct investment of China's textile industry totaled 9 billion 796 million US dollars in 2003~2018, with an average annual growth rate of 15.6%, accounting for 5.2% of the total foreign direct investment of manufacturing industry.

Sun Ruizhe believes that the textile industry is a leading industry for the country to actively promote the "one belt and one way" construction. At the same time, it is also the preferred livelihood industry for promoting industrial development, creating national wealth and providing a large number of jobs along the "one belt and one road" along the country and region.

Promoting the internationalization of China's textile industry and strengthening the landing and implementation of the international capacity cooperation project of textile industry are both the needs of China's own industrial development and the important measures to promote the development of the textile industry of the cooperative countries and achieve mutual benefit and win-win results.

In order to better promote the "going out" of the textile industry, Sun Ruizhe suggested that we should strengthen the study of the foreign investment industrial policy of textile enterprises, strengthen the guidance to the key areas and key areas of overseas investment in textile industry, and improve the efficiency of the pnational layout of the textile industry.

He also suggested that the textile and garment industry should be listed as the "one belt and one way" cooperative demonstration industry, and the departments of credit and foreign exchange management should be coordinated to give low interest and interest free loans to textile investment projects. At the same time, a landmark cooperation demonstration project such as modern textile Industrial Park and modern textile production service system should be established in key countries such as Vietnam, Pakistan, Uzbekistan, Egypt and Ethiopia along the "one belt and one road".