China Will Accelerate The "One Belt, One Way" Investment In Textile Industry

Gao Yong, Party Secretary of the China Textile Industry Federation, said recently that China will accelerate the investment and development of the textile industry along the belt, and guide enterprises to take the initiative to "go global" in the layout of the global industrial chain through the overall planning and layout of the textile industry and the establishment of a multilateral exchange platform for the textile industry.

Gao Yong made the above statement recently in the 2019 textile industry "one belt and one road" conference held in Suzhou.

Gao Yong said that in recent years, China Unicom has established a multilateral international exchange platform and organized key national investment promotion meetings, which has effectively improved the cognition of the textile and garment enterprises on the investment environment and contributed to many overseas investment projects. Through the "going out", the textile industry carries out investments and mergers and acquisitions in the upstream and downstream industries, such as high-quality resources, advanced R & D capabilities, technology and terminal channels, so as to effectively reduce production costs, resist disorderly competition and gradually form new advantages.

According to the China Textile Federation data, from 2015 to 2018, China's textile and garment industry accounted for more than 80% of the total investment of the whole country along the "one belt and one road" area. The textile and garment industry has become a pilot and exemplary industry in the "one belt and one road" initiative.

Gao Yong said that the future China Textile Alliance will strengthen the docking with the "along the way" countries and related areas, accelerate the promotion of the textile industry's "one belt and one way" investment, and promote the international production capacity cooperation in the textile field.

In addition, the Ministry of industry and Commerce will strengthen the international production capacity cooperation in the manufacturing sector, especially in textile and building materials fields, and promote the construction of overseas cooperation zones.