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| Recent survey results showed that textile players in China are endeavoring in five areas: technical application and R&D, investment, market development, product quality and human resources. |
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Recent survey results showed that Chinese textile industry is likely to enter an era of better quality in two years. Textile players in China are working to enhance themselves and many of them are able to maintain their development amid the international financial crisis.
Their endeavor is observed in five areas: technical application and R&D, investment, market development, product quality and human resources, in the hope of grasping more market opportunities when the economy revitalizes. These efforts reflect that the Chinese textile industry is entering an era of better quality, and the focus of the market competition is likely to shift from price and quantity to quality and product differentiation, leading to increased market integration and specialization.
Conducted by the Chinese Textile and Apparel journal of Adsale Publishing Limited, in cooperation of Synovate market research company, this survey took place in April and June 2009 in the form of individual face-to-face interviews and online questionnaires to collect views of totally 800 entrepreneurs, managers and professionals.The report discusses a) development and outlook of Chinese textile enterprises and b) how they coped with the global economic downturn that followed the credit crunch.
In the aspect of technical application and R&D, technolocial introduction and development will gain further importance among textile enterprises. Nearly 70% (66.79%) responding enterprises reported their intent to invest more on R&D in coming years. Among them, textile processing firms are the most enthusiastic group in such investment, thus the demand of imported textile machinery is liekly to remain in China.
Second, capital investment is essential when enterprises desire to improve themselves. In the Survey, it is found that Chinese textile enterprises are still confident in mid- to long-term investment despite the current unfavourable economy. The Survey respondents reported to prefer an investment payback period spanning between two to four years. Many of them agree that the changing international market is the biggest source of risk for their current investment decisions. It is anticipated that investment projects of these enterprises will gradually return on track when the economy is firm in the year ahead.
Third, when asked about developing domestic and overseas markets, a number of respondents experienced that the fact that OEM (original equipment manufacturing) no longer meets today’s market needs. Despite the hurdles, brand building is progressively important in the domestic market. Rival used to be limited in the Chinese market, but it has become more tough for Chinese suppliers to dominate the domestic textile and apparel market as the country opened its door. Hence, the domestic market is shared by more market participants from home and abroad. When opening overseas markets, respondents tend to appoint local distributors to reduce risk and cost.
Fourth, product and quality is increasingly placed on the top of the agenda. More and more Chinese textile enterprises are found to view that quality is critical to them. They also expect that new products will contribute more to sales and profits.
Fifth, in the area of human resources, more talents for technological development are needed across the country. The thirst for various types of talents is particuarly acute in East China.
Mrs Annie Chu, Publisher of Adsale Publishing Limited, commented that detailed survey results are available in Surviving Tough Times: Now and The Future, which has been published billingually in Chinese and English this month. Insightful analysis reports and hundreds of statistics tabulations, as well as updated industry information such as lists of leading enteprises in varied textile and apparel subsectors, textile indsutrial clusters and industry associations in the Greater China region are all inside this Survey report for all stakeholders of the Chinese textile industry.
>Further information of Surviving Tough Times: Now and The Future survey report of Adsale Publishing Limited<
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