Textile industry in China– additional information
The textile industry in China has seen rapid growth over the past two decades and has become one of the main pillars of China’s economy. In 2012, the annual revenue of all textile industrial enterprises in China had amounted to approximately 3.2 trillion yuan. With an textile export value of 107 billion U.S. dollars in 2013, China was the world’s largest textile exporter, accounting for nearly 35 percent of overall global textile exports. In 2014, clothing and clothing accessories with a total value of over one trillion yuan had been exported from China, not taking into account the export of textile articles and textile yarns with a value of nearly 700 billion yuan. Belle international, the leading woman’s footwear retailer in China, had ranked first among Chinese textile and clothing manufacturers with total revenues of about 40 billion yuan in 2014.
Nonetheless, the textile industry in China is facing a major transition period. The loss of competitive advantages such as low labor costs and a favorable exchange rate leads to a shift in the market focus. While basic textile production is outsourced to regions with lower costs, China focuses more on specialized textile and fiber products. In terms of target markets, the domestic textile market in China has been gaining importance compared to international markets as well. In 2012, China’s apparel market had reached 150 billion U.S. dollars and was expected to triple in size by 2025.