China : Xianyang textile firms receive foreign trade development fund

Recently, on the recommendation of Xianyang City Textile and Garment Association, three textile enterprises in Xianyang City received the ‘special fund for the change in foreign trade growth mode for textile industry’ from the State Ministry of Finance. They will use the fund to adjust product structure and develop three high-tech projects, which will greatly raise product level of Xianghang textile enterprises.

These implemented projects are the schemes to rebuild new fiber textile production lines, so as to extend export scale of high-grade fabrics by Shaanxi Wind Wheel Textile Group. The project of developing and producing different fiber fabrics by Northwest No Two Cotton Textile Group and Shaanxi Yongfuxiang Textile and Dyeing Limited has planned a program to draft entire line for new products from research and development to production of new milk protein fiber textile yarn by .

According to Xianyang City Textile and Garment Association, the city is accelerating the restructuring of textile products and producing new and high-tech textile products which have broad prospects and tremendous market potential.

After the completion of the three projects, the three enterprises would have 140 million yuan of new sales income per year, and achieve profits of 26.4 million yuan.
 
 
Fibre2fashion, News Desk - China