China strives to achieve average annual industrial value-added output growth of 6-7 percent in major textile companies in the 13th Five-Year Plan period (2016-2020), according to the Ministry of Industry and Information Technology (MIIT) on September 28.
The plan envisions that China's textile and costume export takes a stable share in the global market during the five years, while the growth mode of the sector will be more quality-oriented. By the end of 2020, research and development (R&D) expenditure of large- and medium-sized textile companies will account for 1 percent of their core business revenues, according to the plan.
The plan also requires quality of textile products to improve and a batch of internationally well-known brands to be formed. During the period, patent authorization of textile industry will witness an annual growth of 15 percent, with high-performance fiber and bio-based fiber reaching international advanced level.
The MIIT set forth six major tasks for the industry as a whole, as shown in the plan, including increasing industrial innovation capability, carrying out the strategies of increasing varieties, improving quality and nurturing brands, promoting intelligent manufacturing of textile products, accelerating green development, facilitating regional coordination and uplift comprehensive strength of companies.
Five key sectors are stressed, including enhancing innovation of chemical fiber sector, expanding application of industrial textiles, improving natural fiber utilization, accelerating clothing and home textiles innovation, as well as uplifting quality of high-end textile machinery.
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