Four channels are now available in China for the enterprises to track technology developments: divisions of technology development within companies, industry associations, technical publications, and co-operation with foreign companies. The technical staff can also obtain useful information through the China Textile Engineering Society and its branches at the local level.
Financial Situation.
Today, China's textile industry is facing a serious challenge. Growth in traditional textile demand has declined remarkably, and production capacity constantly exceeds the market need. The 1990's is a period of fundamental transition for China's economy, especially for traditional industries like textiles. Generally speaking, the financial situation of the textile industry is cause for concern. Its financial difficulties may be solved by external investment/co-operation and by adjusting the scale and structure of production.
Market Prospects.
In the global market, the comparative advantages of China's textile industry include low labour costs, available raw materials, and low manufacturing cost. China has a population of more than 1.2 billion, so its domestic textile market is quite large. In the past few years, the Chinese people have acquired an immense enthusiasm for individualised apparel and fashion. The influence of fashion is especially dominant in the apparel and textile industries, so market orientated, fashion-related textile production should have good market prospects. China's textile industry should adjust to these market changes in order to strengthen its position in the domestic and world textile markets.
Regulations and Standards.
In China, the textile industry is a traditional industrial sector, and thus detailed standards have been formulated, including raw material standards, yarn and fabric standards, and clothing processing stands. The China National Council of Textile Industry has participated in the International Organisation for Standardisation and revised its standards according to the international standards.