China's Ministry of Industry and Information Technology (MIIT) is expected to release a development plan for the textile industry during the 13th Five-Year Plan period (2016-2020) in the first half of 2016, the Shanghai Securities News reported on Thursday.
During 2016-2020, China's textile industry is projected to maintain a double-digit growth and the authorities will pay more attention to development of fabrics for industrial use, according to a source of the China National Textile and Apparel Council.
During the period, the textile industry will focus on industrial transformation and upgrading and move towards a high-end direction. Given the rapid growth of the automotive industry, textiles for automobile use will embrace huge development in coming years, the source added.
On China's A-share market, listed companies including Shenzhen Fuanna Bedding and Furnishing (002327.SZ), Luolai Home Textile (002293.SZ), and Hunan Mendale Hometextile (002397.SZ) are engaged in textile business.
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