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Chinese Textile Industry Achievement Review of 11th 5-Year Plan

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2010 is a crucial year for achieving all the targets of the 11th Five-Year Plan (2006-2010) and laying a solid development foundation for the 12th Five-Year Plan (2011-2015). The following is a review of some major targets in Chinese textile industry during the period 2006-2010:

��. Production

From Jan. to Sep.��2010, the total industrial production value of statistics-worthy Chinese textile enterprises increased 26.04 percent y/y to CNY 3365.674billion, 1.1 times higher than the same period in 2006.

��. Investment

The accumulated investment for statistics-worthy textile projects (whose investment beyond five million RMB) during Jan.-Sep. reached CNY276.291 billion, up 25.66 percent y/y, 0.36 times higher than the same period in 2006.

During the 11th Five-Year Plan period, textile investment growth in midwestern and northeastern regions of China has surpassed that of the eastern region, which means the widening of the gap between the regions has been halted, and the self-development capacity of central and western regions has increased greatly. In the first three quarters of this year, textile investment growth of the central and western regions reached 42.61 percent and 56.12 percent respectively, which was 29.98 percent and 48.49 percent more than the eastern region, and it is expected to continue to be faster than the eastern region throughout the year.

��. Domestic demand

From 2006 to 2009, the yearly per capita disposable income for urban residents was 11,759 yuan (about 1,729 U.S. dollars), 13,786 yuan, 15,781 yuan, and 17,175 yuan, respectively; while yearly per capita net income for rural residents was 3,587 yuan, 4,140 yuan, 4,761 yuan, and 5,153 yuan, respectively. Income growth for urban residents outpaced that for those living in rural areas. In 2009, China's total retail sales of consumer goods reached 13.3 trillion yuan. This year, total sales are expected to be double those of 2005. In fact, growth in sales of domestic consumer goods has actually exceeded the 11th Five-year Plan's target by 11 percent.  

Demands serve the major factor stimulating the growth of production, sales and exports of the Chinese textile industry. In Jan. - Sep. 2010, the domestic sales production value of statistics-worthy textile enterprises in China accounted for 81.14% of the total production value, increasing 8.04 percentage points from 2006.

��. ��ompetitiveness

During the 11th Five-Year Plan period, the industry has increased opportunities for independent innovation as an important step in restructuring the industry in China and transforming the model of development, which greatly contributed to companies across the country to invest more in technological innovation and adding more value to their products. Data shows that China��s textile and garment export value amounted to 171.332 billion in 2009, 0.16 times higher than 2006. 

China's textile and apparel exports are highly dependent on the United States, European Union, Japan, Hong Kong and Russia, traditional markets, easy to trigger anti-dumping and other trade restrictions abroad. During the 11th Five-Year Plan period, the industry has gradually adjusted the structure of export markets, while maintaining the United States, the European Union and other traditional market share based on the positive steps to develop non-traditional export markets, promote market diversity. The export structure needs further optimization and, while use of foreign investment goals have been achieved in terms of quantity; further improvements are needed in order to achieve quality-related goals.  

��. Structural adjustment

Industrial goals of the 11th Five-year Plan included, but were not limited to, adjusting the structure and composition of the raw materials, reducing energy consumption, improving product quality and revitalizing the equipment. During the entire 11th Five-year Plan period, structural improvements were significant. For example, data shows that the differentiation rate of Chinese-made chemical fibre reached 43 percent.

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