Northwest China's Xinjiang Uygur Autonomous Region aims to create 200,000 jobs in the textile sector for low-income residents over the next five years, the regional economic and information technology commission said. The region created 130,000 jobs in the textile industry over the past five years. Twenty-two enterprises have recently opened in Aksu Textile Park in southern Xinjiang, producing 10 million meters of cotton cloth with 800,000 spindles every year. Ninety-five percent of the 1,

The tax sum Vietnamese textile & garment companies now have to pay when exporting products to the US is higher than the tax sums enterprises from other TPP-member countries pay in total. This means that when TPP takes effect and the import tariff is cut to zero percent, Vietnamese companies will be able to save $1 billion as they won’t have to pay tax when exporting products to the US. The tax sum Vietnamese textile & garment companies now have to pay when exporting product

For the month of January wool imports to Zhangjiagang in Jiangsu province reached 11,000 tons, valuing 384.3 million yuan ($59 million), up 27 and 29 percent respectively from 2015, according to the entry-exit inspection and quarantine bureau. So far, the wool is mainly imported from Australia and New Zealand, with increasingly growing numbers from Europe, America and Africa. The city's wool import sector remains developing steadily in the slowing economy conditions. Most wool imported in

H&M, a Swedish multinational retail clothing company, has put a ban on cotton from Turkmenistan and Syria due to underage workers involved in cotton cultivation, the company said in a press release. The company which known for its fast-fashion clothing for men, women, teenagers and children, has signed a commitment requirement with all its suppliers that they don't buy cotton from Turkmenistan or Syria. The suppliers that do not sign the commitment would not be allowed to work with H&

Pakistan cotton crop for the year 2015/16 due to its sharp reduction in output, textile manufacturers are anticipate serious affects on export activities for which they demand for an immediate tax holiday on import of cotton, that might off-set decline in the textile exports. All Pakistan Textile Manufacturers Association (Aptma) has sent a letter to the finance minister, informing that the cotton crop for the year 2015/16 had miserably failed to meet the industry requirement. There is a shor

THE yuan could be a safe haven currency for international investors due to its stable valuation against a basket of currencies, while the currency has no basis to continue depreciating, a senior Chinese central bank researcher said yesterday. China is one of the most prudent economies in the world with stable growth, abundant foreign exchange reserves, small foreign debt and large trade surplus, Yao Yudong, head of the People Bank of China’s Research Institute of Finance and Banking, wrote in

The Indian denim industry is looking to gradually increase its share of exports from its current 35%. Experts feel that the industry will have to increase its capacity by another 300 million metres. The sector’s current share of domestic sales is 65%. "Historically, denim has been one of the fastest growing apparel fabric segments, having grown by 500 million metres from 700 million metres in 2010 to 1.2 billion in 2015. Yet, there is a gap of another 300 million metres in India if the denim

China, the world's No 2 cotton producer, is targeting a 6.5 percent reduction in cotton cultivation in its top growing region this year, as it attempts to create conditions more favourable to a release of some of its huge state stocks. China's north-western Xinjiang region, producer of more than 60 percent of the nation's cotton, will reduce planting of the fibre by 1.5 million mu, or 100,000 hectares, to 23 million mu in 2016, according to local media reports citing an agriculture work conferen

Blighted by pest, drought and unseasonal rain, Pakistan's low cotton output this year will hit the country's exports, experts fear. The Pakistan Businessmen and Intellectuals Forum (PBIF) has said low cotton output was hurting millions of cotton farmers which would ultimately affect exports and gross domestic product (GDP). The country would miss the target of cotton production by 4.6 million bales necessitating imports worth $4 billion to keep textile industry running which would hit balance o

The Vietnam National Textile and Garment Group (Vinatex) will strive to raise the local content of its products to 60 percent as of 2018, the year when the TPP and the Vietnam-EU FTA are expected to take effect. Chairman of Vinatex Tran Quang Nghi said only by doing so can the group meet the requirements of these two new-generation FTAs in order to fully benefit from preferential tariffs. Towards the goal, the group recently put into operation two yarn making factories and a dyeing-weaving