Chinese Textile Machinery Industry to Become World Textile Machinery Power in 2020

China´s textile machinery market has shown a more robust growth since the beginning of 2011.

The promulgation and implementation of the Outline of Scientific and Technological Progress of Textile Industry in 12th Five-Years Plan once again puts forward the goal of "Chinese textile machinery industry will become a world textile machinery power in 2020".

In accordance with outline plan, sales revenue of textile machinery industry will reach RMB 120 billion by 2015, representing an average increase of 7% per year. Market share of domestic textile machinery will realize 85%.

Among main textile machinery, more than 30% will reach advanced international level over the same period, of which, market share of main products (spinning machinery and chemical fiber machinery) will reach more than 50%.