Chinese textile machinery industry

Chinese Textile Machinery – The History

Though sewing machines were invented approximately 150 years ago, China started manufacturing machines nearly 80 years ago. Nevertheless, since China was reformed & opening policy came into existence, growing since last couple of decades & started to play a significant part in the world textile machinery market as well as & cater rising domestic demands.

In mid 80s, the textile machinery manufacturers began to accelerate the production of household machines to cater higher demand in industrial machines.

At present, China’s textile machinery industry holds prominent place in foreign exchange earnings, exportation expansion and development of national economy.

Current Scenario

Textile machinery import export of China amplified during the first quarter of the year 2007. Imports amounted to US$ 1,556mn, which was up 33.4% as compared to the previous year, whereas exports amounted to US$ 510mn & rose by 38.7% year on year. Export & import of chemical fiber slumped 44.6% & 15.7% year on year respectively.

Industrial sewing machine & sewing machine needles exports increased. In contrast to this, imports of the same slumped a bit. Felt finishing machines imported by China rose by 126.6%. Performance of knitting machines also showed well where exports were up by 80% & imports were up by about half.

Anticipation: Industry to attain $8 billion in 2007

Starting from 2003, China's aggregate market demand for textile machinery has remained at about US$8 billion each year, with the changes only taking place in adjustment of proportion between the import and the domestically manufactured. China's import of textile machinery and equipment reached US$3.5 billion in 2004, and sales of domestically manufactured ones was RMB36.997 billion, and the export was US$668 million.

Many of the Textile & clothing industry prepared to set up with their new production houses overseas. The Government is strictly to control textile & clothing investment in 2007. The export value of textile machinery totaled $1.2bn whereas imports were almost double at $3.5bn. The textile machinery sales totaled RMB 50bn in the year 2006.

In 2007, the segment is estimated to attain a degree of $8bn. As it is a capital concentrated industry, the output of machinery could rise according to the domestic market’s demand.

References:
http://www.tdctrade.com