Gao Yong, Secretary of the Party Committee of the China Textile Industry Federation, said recently that China will speed up the investment and development of the textile industry “Belt & Road Initiative.”

Through the overall layout planning, the construction of multilateral textile industry international exchange platform and other measures to guide enterprises to take the initiative to “go out” layout of the global industrial chain.

Gao Yong made the above statement at the 2019 Textile Industry “Belt & Road Initiative” meeting held by the China Textile Federation in Suzhou recently.

Gao Yong said: in recent years, by building a multilateral international exchange platform and holding key country investment promotion meetings, China Textile and Garment Enterprises have effectively improved their understanding of the investment environment and contributed to many overseas investment projects.

Through “going out”, the textile industry invests and merges in the upstream and downstream high-quality resources, advanced R & D capability and technology, terminal channels and other fields of the industrial chain, effectively reducing production costs, resisting disorderly competition, and gradually forming new advantages.

According to the China Textile Federation, from 2015 to 2018, China’s textile and clothing industry’s cumulative direct investment in countries along the “Belt & Road Initiative” line accounted for more than 80 percent of the total global investment in the same period. Textile and clothing industry has become the forerunner and demonstration industry of “Belt & Road Initiative.”

Gao Yong said that in the future, China Textile Federation will strengthen docking with countries along the “Belt & Road Initiative” route and relevant regions, speed up the promotion of “Belt & Road Initiative” investment in the textile industry, and promote international production capacity cooperation in the textile field.

In addition, the Ministry of Industry and Information Technology will strengthen international production capacity cooperation in manufacturing, especially textiles, building materials and other fields, and promote the construction of overseas cooperation parks.