Trade with China supports some 2.6 million jobs in the United States, including jobs that Chinese firm have created directly in the US, according to a report released on Tuesday by the US-China Business Council. And as the Chinese middle class grows rapidly over the next decade, likely exceeding the entire US population by 2026, US companies will have opportunities to tap into a new and lucrative customer base that can further boost employment and economic growth, said the report, entitled Un

CHINA’S economy is expected to grow about 6.7 percent in 2016, the country’s top economic planner said yesterday. The economy is predicted to exceed 70 trillion yuan (US$10.1 trillion) for 2016, an increase of 5 trillion yuan, Xu Shaoshi, director of the National Development and Reform Commission, said at a news briefing. The estimate falls within the government target of between 6.5 and 7 percent for the year. In the first three quarters of 2016, the economy expanded 6.7 percent year on y

A modest trade activity was witnessed on the cotton market on Wednesday, dealers said. The official spot rate was unchanged at Rs 6350, dealers said. In Sindh, seed cotton prices were unmoved at Rs 2800 and Rs 3350, they said. In Punjab, phutti rates held the overnight levels at Rs 2800 and Rs 3550, as per 40 kg, they added. Nearly 5,000 bales of cotton changed hands between Rs 6000 and Rs 6600, they said. According to market sources, the ginners were active but the spinners took little in

President-elect Donald Trump and China's billionaire founder of e-commerce giant Alibaba held "great" talks in New York on Monday focused on creating US jobs and enabling trade with Asia. The incoming Republican president, who will be sworn in as commander-in-chief in less than two weeks' time having never previously held elected office, has made job creation a key promise of his incoming administration. His team said the meeting between the 70-year-old real estate tycoon and China' rich

Epson, a pioneer in digital printing technology, and For.Tex. and F.lli Robustelli, that are now part of the Group, are showing the Monna Lisa printer, the digital textile printer revolutionising the textile printing market, at Heimtextil 2017, the trade fair for home and contract textiles, in Germany, from January 10 to 13, 2017, in pavilion 6, stand C10. The three companies will be at Heimtextil to show the Home Textile and furnishing market digital printing on fabrics using high-quality pi

The 40th Texworld Paris show begins February 6-9, 2017 with 730 exhibitors, with this number showing an increase, particularly due to the return of previous exhibitors, who missed several recent shows. Turkey, with 87 exhibitors, remains the second most represented country after China, followed by South Korea with 71 exhibitors and India with 53 exhibitors. Taiwan with 26 and Pakistan with 19 bring up the rear of the top five exhibiting countries. In addition the 2017 edition will also see co

Xinjiang Uygur autonomous region, a major cotton production base in Northwest China, is aiming to create more than 100,000 new textile jobs in 2017, through intensive processing projects such as garment manufacturing. Yin Xiaodong, an official in the region's textile industry, said Monday that the number would account for two-thirds of planned new jobs in the region's industrial sector in 2017, or a quarter of all new jobs. A total of 112,300 workers were newly recruited in the textile s

The number of trucks carrying jute and jute goods into India through the Benapole land port sharply declined after New Delhi imposed a high antidumping duty on the imports of the goods from Bangladesh. India on January 5 slapped the antidumping duty on imports of jute and jute goods from Bangladesh and Nepal to “protect the domestic industry”. For Bangladesh, the duty ranges between $19 and $352 per tonne. Only 10 trucks of jute goods have been exported through the port in the last five da

The Seam, a commodities trading and agribusiness software provider has partnered with IBM to form a blockchain consortium for the global cotton industry. The company intends to lead an industry-wide collaboration initiative to create a supply chain and trading ecosystem built on IBM blockchain technology, specifically using the hyperledger fabric. “This new technology will be transformational for the cotton industry... There are numerous organisations, processes, systems and transactions inv

The leather and footwear sector forecasts that its export earnings can reach 18 billion USD this year, up more than 10 percent from 2016, while manufacturing index would grow by 5 percent. According to experts, orders for footwear and bag processing may be diverted from factories in China to those in Vietnam. The shift is attributable to China’s cut back on incentives for investment in garment and footwear sector to focus on high technology. Another factor is the Vietnam-European Union fre