China National Textile and Apparel Council (CNTAC) has been drafting the Development Plan of Textile Industry for 2016-2020 and the industry is expected to select a batch of key programs and to form and promote six types of smart production lines, the Shanghai Securities News reported on Friday.
The six types of production lines are smart yarn production, smart woven polyester production line, automatic printing and dyeing production line, automatic adhesive bonded fabric production line, and automatic garment sewing production line. A CNTAC insider said if the six types of production lines are formed, China's textile and apparel production would say farewell to the labor-intensive image.
China's textile industry has to restructure during the 2016-2020 period, or the industry will be transited to Southeast Asia countries where labor costs are lower, and China's textile industry will head downhill as some media have forecasted. Among A-share listed companies, Sunvim Group (002083.SZ), Jiangsu Hongdou Industrial (600400.SH), Henan Rebecca Hair Products (600439.SH) have involved in textile-related businesses.