Chinese textile industry in a booming second year, with exports up more than 60 percent in 2015, with a third of the global demand.
But with the global economy struggling to recover from the shock from the global financial crisis, Chinese manufacturers are struggling to attract the funds needed to develop their businesses and produce products that appeal to a global market.
The rise in China’s exports and demand from the international market is another example of how the Chinese textile sector has rebounded, and how it is also facing a challenge to the sector’s status as the leading manufacturing hub.
“China’s textile exports grew more than double the global average in 2015 and the growth is not slowing,” said Liu Shaoqing, head of the China International Textile Industry Association.
“But the domestic market is not the only market, as domestic demand is still increasing.”
The rise of the textile industry was due to two main factors: the revival of domestic demand, and the expansion of international demand.
In 2015, China’s total domestic textile exports totaled $13.2 billion, while the global total was $26.3 billion.
According to the World Bank, China was the second-largest exporter of textiles in 2015 with $9.7 billion, and its share of global total exports reached 23 percent, up from 18.5 percent in 2014.
The domestic textile market is the largest in the world, accounting for 20 percent of global textile exports in 2015.
China’s domestic textile industry has also grown since 2000.
The country’s textile export growth reached 10.5 times between 2000 and 2015, according to the U.N. World Trade Organization.
In the same period, domestic demand grew more quickly.
In 2001, China imported nearly 60 percent of the world’s total textile production, and by 2015, it imported more than 70 percent of world’s textile production.
The textile industry also grew by more than 40 percent during the financial crisis and the subsequent economic downturn, reaching an all-time high in 2015 of $939 billion, according the World Trade Organisation.
As the textile sector recovered, other industries such as steel and auto-parts production and car production also rose.
Chinese textile companies have been able to attract foreign investment to develop new plants and factories.
The government has also invested heavily in technology and education to create a more modern textile industry, including through a nationwide “high-tech education” program and a state-owned company.
The Chinese textile business is now the world leader in the global production of textile goods.
China also has the world largest population of workers, with some 200 million people employed in the industry.
The number of workers employed in China has surpassed 1.3 million.
The most popular brands in the Chinese textiles industry include Mango, Zara, Jilin, and Zara Swimwear.
But China is also growing its market share.
In 2014, textile exports were valued at $1.6 billion, a 70 percent increase from 2013, while textile imports reached $2.1 billion.
The United States, Canada, France, Japan, and South Korea also have large markets for Chinese textile exports.
In addition to the textile exports, China is the world market for the auto-transportation and industrial machinery, as well as the automotive industry.