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Foreign Investment in China's Textile Industry Continues to Grow


Due to the continuous increase of China's processing and manufacturing costs, the transfer of international textile industry investment and international purchase orders to other developing countries and regions is an inevitable development trend. The textile processing capacity invested by the United States, Europe, Japan, South Korea and other developed countries and regions in Southeast Asia has also increased rapidly in recent years, which is bound to form a competitive relationship with China's textile industry in the long run. Sun Ruizhe, president of the China Textile Industry Federation, said at a forum of representatives of the two sessions of the 2019 textile industry held in Beijing a few days ago that China's textile enterprises actively participate in the new layout of the international textile industry through foreign investment. it is conducive to ensuring the profitability of China's textile industry capital and forming a positive interactive relationship with the upgrading and development of the domestic textile industry.

Sun Ruizhe said that in the new round of globalization, the rise of developing countries represented by China 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 kind of "self-development rise" under the action of endogenous driving force ". According to the statistics of the Ministry of Commerce, from 2003 to 2018, China's textile industry's foreign direct investment totaled 9.796 billion billion U.S. dollars, with an average annual growth rate of 15.6 percent, accounting for 5.2 percent of the total manufacturing foreign direct investment.

Sun Ruizhe believes that the textile industry is a leading industry for the country to actively promote the construction of the "Belt and Road", and it is also the preferred livelihood industry for countries and regions along the "Belt and Road" to promote industrialization, create national wealth and provide a large number of jobs. Promoting the international development of China's textile industry and strengthening the landing and implementation of international capacity cooperation projects in the textile industry are not only the needs of China's own industrial development, but also an important measure to promote the development of the textile industry in 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 research on the industrial policies of textile enterprises for foreign investment, strengthen the guidance of key areas and regions of overseas investment in the textile industry, and improve the efficiency of transnational layout of the textile industry. He also suggested that the textile and clothing industry should be listed as a "Belt and Road Initiative" cooperative demonstration industry, coordinate credit, foreign exchange management and other departments, and give low-interest and interest-free loans to textile investment projects; at the same time, in Vietnam, Pakistan, Uzbekistan, Egypt, Ethiopia and other key countries along the "Belt and Road Initiative" route to build modern textile industrial parks, modern textile productive service systems and other landmark cooperation demonstration projects.

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Foreign Investment in China's Textile Industry Continues to Grow