-Quality upgrade of the textile industry: The Ministry of Industry and Information Technology and other four departments issued the "Implementation Plan for Quality Upgrade of the Textile Industry", aiming to achieve intelligent and green transformation by 2025, and enhance brand influence and international competitiveness.
-Increased export pressure: In 2023, China's textile exports are facing downward pressure, and some orders will be transferred to Southeast Asian countries such as Vietnam and Bangladesh. Experts suggest that companies increase brand and design added value to meet challenges.
-Digital transformation: Chinese textile companies are accelerating the digitalization process, promoting intelligent manufacturing and product structure optimization, and enhancing the competitiveness of the industrial chain, especially in the increasingly complex market environment.
-Green textile trends: The increase in environmental awareness has prompted the textile industry to actively transform towards green and low-carbon, and the demand for green textiles has increased, prompting companies to increase investment in environmental protection technologies.
-Overcapacity and intensified competition: The domestic textile industry faces challenges such as overcapacity and high inventory, and competition among companies is becoming increasingly fierce. Experts suggest that these challenges can be addressed by optimizing the supply chain and exploring new markets.
-Domestic market opportunities: Some textile companies have turned their attention to the domestic market, increased brand and design investment, and improved product differentiation and added value to cope with the uncertainty of the foreign trade market.
-Textile enterprise R&D investment: The Implementation Plan encourages textile companies to increase R&D funding, with the goal of achieving basic digital networking for 70% of textile companies above a certain scale by 2025.
-New market development: Chinese textile export companies are actively exploring new markets and optimizing product structure to cope with changes in global market demand, especially when demand in the European and American markets is weakening.
-Brand building: In the next few years, the textile industry will pay more attention to brand building, with the goal of forming 20 globally renowned corporate brands and regional brands to further enhance fashion leadership.
