China : Textile industry explores new arenas
Source: Fibre2fashion News Desk - China Date: 2008-03-18
The adjustment of the export rebate rate in 2007, resulted in a huge loss for China’s home textile enterprises. According to the Government of Shaoxing city, Zhejiang Province, the local textile industry suffered losses of more than US $100 million due to this.
The big home textile enterprises which earn around 200 million yuan through sales are now diverting from their textile business. They are getting into the fields related to the industry itself like dyeing and printing, to remain in the market.
One of the biggest in the sector, Shanghai Homes Bedding and Clothing Co Ltd is also getting into the dyeing and printing project. The company will be manufacturing a special wide cloth with annual production reaching to 60 million meters.
