|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1031.94 |
USD/Ton |
0.58% |
10/11/2016 |
|
VSF |
2523.85 |
USD/Ton |
-0.29% |
10/11/2016 |
|
ASF |
1881.68 |
USD/Ton |
0% |
10/11/2016 |
|
Polyester POY |
1041.65 |
USD/Ton |
0.36% |
10/11/2016 |
|
Nylon FDY |
2404.37 |
USD/Ton |
-0.62% |
10/11/2016 |
|
40D Spandex |
4405.53 |
USD/Ton |
0% |
10/11/2016 |
|
Nylon DTY |
5622.65 |
USD/Ton |
0% |
10/11/2016 |
|
Viscose Long Filament |
1288.06 |
USD/Ton |
0% |
10/11/2016 |
|
Polyester DTY |
2210.23 |
USD/Ton |
-0.67% |
10/11/2016 |
|
Nylon POY |
2050.44 |
USD/Ton |
0% |
10/11/2016 |
|
Acrylic Top 3D |
1239.52 |
USD/Ton |
0% |
10/11/2016 |
|
Polyester FDY |
2613.45 |
USD/Ton |
0% |
10/11/2016 |
|
30S Spun Rayon Yarn |
3091.34 |
USD/Ton |
0% |
10/11/2016 |
|
32S Polyester Yarn |
1729.36 |
USD/Ton |
0% |
10/11/2016 |
|
45S T/C Yarn |
2598.52 |
USD/Ton |
0% |
10/11/2016 |
|
45S Polyester Yarn |
1851.82 |
USD/Ton |
0.81% |
10/11/2016 |
|
T/C Yarn 65/35 32S |
2255.03 |
USD/Ton |
0.67% |
10/11/2016 |
|
40S Rayon Yarn |
3225.74 |
USD/Ton |
0% |
10/11/2016 |
|
T/R Yarn 65/35 32S |
2359.57 |
USD/Ton |
0% |
10/11/2016 |
|
10S Denim Fabric |
1.36 |
USD/Meter |
0% |
10/11/2016 |
|
32S Twill Fabric |
0.83 |
USD/Meter |
0.18% |
10/11/2016 |
|
40S Combed Poplin |
1.18 |
USD/Meter |
0% |
10/11/2016 |
|
30S Rayon Fabric |
0.70 |
USD/Meter |
0% |
10/11/2016 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
10/11/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14934 USD dtd 11/10/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Declining textile exports have prompted India to look outside traditional markets and tap the ones being served by competitors such as China. The textiles ministry of India is planning to do roadshows to promote textile exports in the new markets. They used to hold roadshows in the past and wanted to approach new markets through these. They have identified Russia, South America and West Asia to boost exports. The plan to do roadshows abroad comes in the wake of a 3.3% decline in exports in 2015-16 to $40 billion from $41.4 billion in the previous year due to India losing its competitive edge to Bangladesh and Vietnam. Textiles sector is among the largest contributors to India’s exports, with a share of almost 11%. The US, European Union and parts of Asia are the main markets for Indian textile and apparel exports. The government had in June announced a Rs 6,000-crore package for textiles and apparels sector to help it wrest a bigger share of the global market. Besides pushing exports, roadshows abroad will also benefit the domestic textile industry, which employs about 40 million workers and 60 million indirectly. Russia and West Asia are not our traditional markets but have been developing as important destinations in recent years. So, it is a good idea to promote our textiles there. If the government is doing roadshows at its level for the entire industry, it is a first of its kind. Nair said the government had held roadshows in India earlier while different export promotion councils promoted products internationally. Roadshows abroad may not translate into immediate exports, Nair said, but will create a market for Indian products in markets that have been served by China till now. The textiles ministry, which has set a target of doubling textile exports in 10 years, plans to enter into bilateral agreements with Africa and Australia, along with working on a new textile policy to promote value addition.
Source: Yarn and fibres
Plummeting textile exports have prompted India to look outside traditional markets and tap the ones being served by competitors such as China. The textiles ministry is planning to do roadshows to promote Indian textiles in the new markets, officials said. “We used to hold roadshows earlier and we want to approach new markets through these. We have identified Russia, South America and West Asia to boost exports,” said one of the officials, who did not wish to be named. The plan to do roadshows abroad comes in the wake of a 3.3% decline in exports in 2015-16 to $40 billion from $41.4 billion in the previous year due to India losing its competitive edge to Bangladesh and Vietnam. Textiles sector is among the largest contributors to India’s exports, with a share of almost 11%. The US, European Union and parts of Asia are the main markets for Indian textile and apparel exports. The government had in June announced a Rs 6,000-crore package for textiles and apparels sector to help it wrest a bigger share of the global market. Besides pushing exports, road shows abroad will also benefit the domestic textile industry, which employs about 40 million workers and 60 million indirectly. “Russia and West Asia are not our traditional markets but have been developing as important destinations in recent years. So, it is a good idea to promote our textiles there,” said textile expert DK Nair. “If the government is doing roadshows at its level for the entire industry, it is a first of its kind,” he said. Nair said the government had held roadshows in India earlier while different export promotion councils promoted products internationally. Roadshows abroad may not translate into immediate exports, Nair said, but will create a market for Indian products in markets that have been served by China till now. The textiles ministry, which has set a target of doubling textile exports in 10 years, plans to enter into bilateral agreements with Africa and Australia, along with working on a new textile policy to promote value addition.
Source: Economic Times
Negative or low revenue reserves coupled with a decline in profitability could make six public sector banks (PSBs) vulnerable and hamper their ability to service coupon on
Negative or low revenue reserves coupled with a decline in profitability could make six public sector banks (PSBs) vulnerable and hamper their ability to service coupon on Additional Tier 1 bonds, credit rating agency Crisil said on Wednesday. Public sector banks have been been plagued with asset quality issues and while the government has committed capital support to help them sustain their capital ratios above regulatory minimum, the coupon on AT1 bonds can only be serviced through the current year’s profit or from revenue reserves. Hence, capital infusion by the government cannot improve the bank’s ability to service coupon on these bonds, the agency said. Thirteen out of 21 PSBs (taking the State Bank of India and its associates as a consolidated entity) reported losses for FY16, and almost half of them could do so again this fiscal. As of date, 14 PSBs have R226 billion of AT1 bonds outstanding. “Of these (six banks), four have AT1 bonds outstanding, where continued losses could wipe out their revenue reserves and pose a challenge when it comes to coupon servicing. The other two have not issued any AT1 bonds so far,” Rajat Bahl, director, financial sector ratings at Crisil, said. Four other PSBs are also expected to post losses in the near term, but they have adequate revenue reserves to service coupon. However, their ability to continue to do so over the medium term will depend on a return to profitability, according to the agency.
Source: Financial Express
India will discuss its huge merchandise trade deficit with China at the BRICS summit later this week, but it has also to address elevated trade deficit from an unexpected quarter. The share of Indonesia in India’s merchandise exports has dropped almost steadily from 2.28% in 2010-11 to a meagre 1.19% in 2015-16. (Reuters) The share of Indonesia in India’s merchandise exports has dropped almost steadily from 2.28% in 2010-11 to a meagre 1.19% in 2015-16. India will discuss its huge merchandise trade deficit with China at the BRICS summit later this week, but it has also to address elevated trade deficit from an unexpected quarter. While China remains the elephant in the room, analysts say Indonesia has fast emerged as one of the most important countries with which India has a trade deficit, especially after the country’s free trade agreement (FTA) with Indonesia came into effect from October 1, 2010, under the broader Asean FTA framework (see chart), reports Banikinkar Pattanayak in New Delhi. Blame the situation on India’s inability to tap the FTA to drive up its exports to the Southeast Asian nation, rather than its increased imports from that country. The share of Indonesia in India’s merchandise exports has dropped almost steadily from 2.28% in 2010-11 to a meagre 1.19% in 2015-16. On the contrary, its share in India’s imports has risen each year from 2.68% in 2010-11 to 3.44% in the last fiscal. Even when India’s overall trade deficit dropped 14% in 2015-16 from a year before, aided by a global commodity price slump, its trade imbalance with Indonesia fell just 6%. This, the analysts argue, reinforces fears that India gained little from its FTA with Asean, more so with Indonesia. Petroleum products, coal and vegetable oils (both edible and non-edible) made up for roughly 67% of India’s imports from Indonesia in 2015-16, while its exports to that country comprised organic chemicals and capital goods, among others. According to Ram Upendra Das, professor at the Research and Information System for Developing Countries, the situation looks worse than it probably is. This is because the FTA is helping India import essential items (like edible oil, coal) from Indonesia easily and is contributing to lower inflation locally. Also, India’s exports to that country have been affected by the fact that Indonesia is facing an economic slowdown, while the former still remains the fastest-growing economy in the world. However, Das added that Indian exporters, especially in the private sector, must tap the FTA with Indonesia more aggressively to ship out more. Also, analysts said India and Indonesia must weigh the possibilities of more government-to-government export deals, especially in commodities where Indonesia is facing a shortfall. Earlier this year, India and Indonesia were at an advanced stage of negotiations to conclude a deal on rice trade. However, the negotiations for exporting 1 million tonnes of non-Basmati rice to Indonesia from official reserves now seem to be stuck, with Jakarta yet to respond to New Delhi’s call for sealing the deal at the earliest.
Source: Financial Express
FICCI today expressed concerns over the UK government's recent announcements indicating tightening of visa regulations for students and professionals from outside the European Union, including India. The Federation of Indian Chambers of Commerce and Industry said it fears the new proposals seek to reduce the flow of immigrants from outside the EU to the UK in the short and medium term. (Reuters) The Federation of Indian Chambers of Commerce and Industry said it fears the new proposals seek to reduce the flow of immigrants from outside the EU to the UK in the short and medium term. FICCI today expressed concerns over the UK government’s recent announcements indicating tightening of visa regulations for students and professionals from outside the European Union, including India. The industry body called on the British government to exercise “caution” in light of plans announced recently by UK home secretary Amber Rudd to tighten migration rules, which is expected to impact Indians heavily. The Federation of Indian Chambers of Commerce and Industry (FICCI) said it fears the new proposals seek to reduce the flow of immigrants from outside the EU to the UK in the short and medium term. This will impact business mobility and, therefore, competitiveness, it said in a statement. “International students contribute 8 billion pounds a year to the UK economy and in recent years the attractiveness of the UK as an education destination for Indian students has diminished because of restrictions on part-time work rights in 2012, followed in subsequent years by the removal of post- study work visas, expansion of credibility interviews and the creation of the NHS (National Health Service) levy,” it said.Highlighting that while migration was a key part of the debate during the Brexit vote earlier this year, it said it was important for the UK to remain open following the vote to leave the European Union (EU) in a referendum in June. “As we become an ever more globalised world, it is important to work together to reduce barriers to mutual economic progress. We are concerned such proposals, which impact students and professionals alike, risk sending the wrong message to companies already nervous about the risks of Brexit,” the statement said. During the Conservative Party conference earlier this month, Rudd had announced a consultation on new restrictions on overseas students, including two-tier visa rules depending on the quality of university or institution, as well as a 140-million-pound “controlling migration fund”.
Source: Financial Express
The rupee was trading lower by 29 paise at 66.82 against the American currency in early trade on Thursday at the Interbank Foreign Exchange market as the dollar strengthened overseas amid a lower opening of the domestic equity market. Forex dealers said increased demand for the US currency from importers and the greenback's gains against other currencies overseas after minutes of the Federal Reserve's last meeting pointed at an interest rate hike this year, put pressure on the rupee. On Monday, the rupee had gained 15 paise to end at 66.53 against the American currency on hopes of more foreign capital inflows. Forex market remained closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively. Meanwhile, the benchmark BSE Sensex fell by 265.21 points, or 0.94 per cent, to 27,817.13 in early trade on Thursday.
Source: Times of India
Numerous Indian firms are seeking opportunities to export their garment-textile machines to Vietnam. Executive Director of the India International Textile Machinery Exhibitions Society (India ITME Society) Seema Srivastava made the remark while introducing the 2016 International Textile Machinery Exhibitions (ITME 2016) in Ho Chi Minh City on October 7.India wants to expand its investment in garment-textile machinery and technology overseas, including Vietnam, she said, adding that this is a favourable time for the two countries to boost their cooperation in the sector. Director of the Vietnam Chamber of Commerce and Industry – Ho Chi Minh City branch Vo Tan Thanh noted that an increasing number of Indian investors have been surveying business opportunities in Vietnam, saying that India is an important partner of Vietnam in the garment-textile sector while Vietnam is also a potential market for Indian firms. According to Thanh, Vietnam’s textile-garment sector, which is dependent on imported materials and machinery, needs to switch to more sustainable development models. Therefore, Indian firms can seize the chances to partner with Vietnamese counterparts for mutually-beneficial cooperation. Sanjiv Lathia from the organisation board of the ITME 2016 said the event, with the participation of 77 international industrial associations, will allow Vietnamese firms to meet with potential partners, access new suppliers of materials and green technology and expand their market. The India ITME is the world’s second biggest garment-textile machinery exhibition. The event will take place in Mumbai, India, from December 3-8 under the auspices of the Indian Ministries of Textiles and Heavy Industry.
Source: VietNamNet.
In the ever-changing global marketplace, Unifi Textiles (Suzhou) Co., Ltd. (UTSC), a subsidiary of Unifi Inc., aims to satisfy the growing demand for comfortable, functional and environmentally friendly apparel by combining performance features with REPREVE®. Repreve is a brand of fibers made certified from recycled materials, including plastic water bottles. UTSC focuses on the idea that function and earth-friendly can be more beneficial together than on their own. “Unifi is in a unique position, as one of the world’s leading producers of branded performance fibers and recycled fibers, to provide the market with the best of both worlds,” said Jay Hertwig, vice president of global brand sales, marketing and product development for Unifi. “With the ability to source globally from Unifi, customers can be confident in quality, innovative products no matter where they choose to do business.” Unifi has a 45-year heritage driven by manufacturing innovation and creating differentiation for its customers. The Company’s success is built on offering premium value-added yarns that provide functional benefits, added comfort and aesthetic advantages. Repreve spent more than three years in development because quality and performance came first, with “made recycled” as the added benefit. “Consumers can appreciate earth-friendly products made to perform, not just in the sense of high-performing products they can count on, but performance made better for the environment,” said Ed Wickes, president of UTSC. “Adding Repreve to our branded technologies provides all of the functional benefits consumers expect in athleisure wear with the added advantage of recycled.” UTSC offers branded technologies made recycled with Repreve, including: SORBTEK® moisture management, REFLEXX® stretch, SOFTEC® high resiliency technology, Repreve Staple Fiber for use in spun yarns, and COTTON-LIKE® with technology that provides a natural look and feel.To learn more about these and other products offered by UTSC, visit booth E65, 5.2 International Hall at the Intertextile Shanghai Apparel Fabrics show in Shanghai, China, October 11-13, 2016.
Source: Textile World
Cotton yarn exports in India declined by 11.58 per cent in terms of value and 4.44 per cent in terms of volume during April - June this year compared to the same period last year. Cotton yarn exports to China, being the major consumer has declined. China imported 149.66 million kg of cotton yarn during the first three months of last financial year (2015-2016) and it dropped to 99.09 million kg during the same period this year. The decline in exports started in April 2014. Total cotton yarn exports from India used to be 140 million kg a month and it has dropped to about 100 million kg now, says M. Senthil Kumar, chairman of Southern India Mills’ Association. With a drop in demand in the domestic and export markets, capacity utilisation in textile mills has also come down. With the existing capacity, India can produce up to 500 million kg of yarn a month. However, it is only about 470 million kg now. Bangladesh is the second largest buyer of cotton yarn from India and exports to Dhaka went up by 38.87 per cent in value between April and June this year and 52.1 per cent in terms of volume during the same period. This year, India’s exports to Pakistan have also improved in terms of value and volume. Competitiveness of Indian cotton yarn in the international market should improve. Further, fluctuations in cotton price have hit the textile mills, Mr. Kumar said. The government should give two per cent under the Merchandise Export Incentivisation Scheme and three per cent under the interest equalisation scheme for one year. This will help India increase export to other countries too. Cotton Corporation of India should buy 70 lakh to 80 lakh bales of cotton in the peak arrival period and supply it to the mills later to stabilise the prices, he said.
Source: Yarns and fibres
China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank 1.9 percent after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived. That left the country with a trade surplus of $41.99 billion for the month, the General Administration of Customs said on Thursday. Analysts polled by Reuters had expected imports to rise 1 percent, after unexpectedly advancing 1.5 percent in August for the first time in nearly two years on stronger demand for coal as well as other commodities such as iron ore which are feeding a construction boom. Exports had been expected to fall 3 percent, slightly worse than in August as global demand for Asian goods remains stubbornly weak. Analysts had expected the trade surplus to expand to $53 billion in September from August's $52.05 billion. The September import reversal raises questions over the strength of the recent recovery in domestic demand, Julian Evans-Pritchard at Capital Economics said in a note after the data. "The data we have so far suggests that a drop in import volumes of a number of key commodities, including iron ore and copper, are partly responsible," he said. "This could be an early sign that the recent recovery in economic activity is losing momentum, although we would caution against reading too much into a single data point given the volatility of the trade figures." A rebound in global commodity prices in recent months has helped temper China's long export and import slump, but the country's foreign trade still faces significant downward pressure, Xinhua news agency reported last week, citing Shen Danyang, a spokesman for the Ministry of Commerce. Last month, the World Trade Organization cut its forecast for global trade growth this year by more than a third to 1.7 percent, reflecting a slowdown in China and falling levels of imports into the United States. China's economy has shown signs of steadying in recent months, but conditions are uneven, with larger industrial firms expanding their activity and seeing higher profits, while smaller companies continue to struggle. China's economic growth also has become more dependant on a government infrastructure spending spree and a housing boom as private investment fizzles and exports remain sluggish.
Source: Times of India
Pakistan government approves Rs. 185 million for textile sector growth
For the development of textile sector, Pakistan government has approved Rs 185 million under Export Development Fund (EDF). The meeting of EDF was held under the chairmanship of secretary of Ministry of Textile Industry, which approved various development projects for promotion of textile sector and boost its exports. As per reports, the allocations of Rs 100 million has been approved for washing facilities in Karachi garments institute, while Rs 75 million was also approved by the EDF for land acquisition of new training institute in Sailkot and was also allocated Rs 10 million for garment training institute in Lahore. The production of up to 11.2 millions bales of cotton was expected this crop season, as compared to 10 million bales produced in the same period of previous year, he added. The selling price of cotton seeds was also decreased from Rs 3,200 to Rs 3,000 per 40 kilogrammes in order to encourage farmers to cultivate cotton crops on more land and enhance the cotton production in this season, the official said. The official further said that the experts and scientists helped in providing training to more than 8,000 farmers to overcome losses of cotton crops and evolved measures against the virus, which harmed the cotton crops in the past. This year farmers were likely to get good prices for the cotton crop, as the increased cotton prices in international market would benefit farmers, as compared to previous years when they suffered huge financial losses, he added. However, the government had set 14.1 million bales of cotton for this year, which had to be revised, as some of the growers in cotton producing areas opted to cultivate sugarcane crop, the official said.
Source: Yarns and fibres
In its proposal to prime minister Nguyen Xuan Phuc, the ministry of industry and trade has suggested creation of a national technical standard for garments and textile products. The new standard is to be made effective by the beginning of 2017. It would result in abolishing current regulation on inspection of formaldehyde content in textiles and garments. The ministry's proposal is based on VITAS submission earlier that the current directive on inspection of formaldehyde content has no legal grounds, and is costly and time consuming, Vietnamese media reported. The ministry has also suggested that the government should conduct studies to grant licenses for setting up of large textile parks spread over 500-1,000 hectare. It also suggests providing finance at preferential interest rates to the companies setting up their units in such industrial parks. This would facilitate investment in modern technologies and wastewater management systems. (RKS)
Source: Fibre2fashion
In Konabari and Gazipur Industrial area, the production of hundreds or textile and garments factories has been hampered for the last one week due to the suspension of gas transmission for a leak in the pipeline at Elenga in Tangail district. Exporters will face difficulties to exports their products on time and might have to resort to expensive air shipments to meet the deadline. They might have to offer discounts too if they miss the deadline. Factories at Konabari, Shafipur, Rajendrapur, Kashimpur, Mouchak, Mirzapur, Gazipur, Ashulia, Savar and Kaliakoir areas are the worst affected, said industry insiders. More than 1,200 textile and garment factories have either suspended production or are running with electricity. They met the prime minister on Monday to express their concern and also expressed their concern to the energy minister as the factory owners have been suffering for the last one week. There are about 400 composite mills in those areas, according to Rahman. They want an immediate solution -- as the owners will face difficulties in the timely shipment of goods for the production halt. The situation at the spinning mills is the worst and the spinning, dyeing and washing plants require continuous supply of gas with adequate pressure.The production has been halted at the spinning mills due to the gas crunch. As a result, unable to supply yarn to the knitters. If the situation prolongs, the knitters would face difficulties in timely shipment of apparel items as they will not get raw materials from the spinners, Chowdhury told The Daily Star by phone. “I incurred $3 million in losses over the last seven days due to the production suspension. The aggregated loss would be higher as almost all factories in these industrial belts have stopped production,” he added. Faruque Hassan, managing director of Giant Group at Shafipur, echoed the same, adding that the workers are sitting idle. “I am running my knitwear factory with the raw materials that were previously stocked,” said Momin Mondol, managing director of Mondol Group in Konabari area in Gazipur district. “Since I have to maintain a strict lead-time, I spoke to my buyers and they agreed to use fabrics from other factories and I am doing so now. But how long will I run my factory like this?” Titas Gas Transmission and Distribution Company will start repairing the line very soon to bring back normalcy, said Mir Moshiur Rahman, acting managing director of the state-owned company. “We are in the process of nominating contractors to repair the pipeline. It will take two to three weeks to repair the line,” Rahman told The Daily Star by phone. Before the completion of the repairs, the industrial units will be provided with gas by suspending its supply to fertiliser companies, he said.
Source: Yarns and Fibres
The years 2014 and 2015 witnessed the massive landing of foreign textile & garment enterprises in Vietnam. In 2015 alone, $2 billion worth of foreign direct investment (FDI) capital was poured into the textile & garment sector. The three biggest projects alone have registered capital of $1 billion. Hyosung Dong Nai, a Turkish invested yarn manufacturer, has investment capital of $660 million. Meanwhile, a textile & garment material factory developed by Polytex Far Eastern from Taiwan has registered capital of $274 million, and Worldon Vietnam, a Hong Kong invested enterprise, $160 million. However, the wave of FDI pouring into the textile & garment sector has reached a lull this year. According to the Foreign Investment Agency (FIA), the list of large FDI projects registered in the first five months of the year did not include textile & garment projects. Meanwhile, the projects capitalized at hundreds of millions of dollars were all in paper production, real estate, electronics and wind power. Pham Xuan Hong, Chair of the HCM City Textile, Clothing, Embroidery and Knitting, commented that foreign investors have decided to delay their projects because they need to waitfor news about TPP (Trans Pacific Partnership Agreement), not because they see problems in Vietnam economy. Nguyen Hong Giang, deputy chair of the Vietnam Cotton & Yarn Association, commented that though capital flow has slowed, Vietnam is still very attractive to foreign investors. Giang cited a report of the US Fashion Industry Association as saying that 68.8 percent of foreign retailers and brands want to choose Vietnam as the top-priority destination point if they have to shift orders from China. In the past, Bangladesh was the priority country. However, with complicated political issues, the country is no longer as popular.
Source: Yarn and fibres
CHINA’S economy performed better than expected in the third quarter and the country’s debt risks are under control, Premier Li Keqiang said yesterday.“China’s economy in the third quarter not only extended growth momentum in the first half but showed many positive changes,” Li said in the speech in Macau that was broadcast live on state television. Key indicators such as factory output, company profits and investment rebounded, he said, ahead of China’s release of third-quarter gross domestic product data on October 19. More than 10 million new urban jobs were created in the first nine months, with the survey-based jobless rate falling below 5 percent in September, he said, while acknowledging that the economy still faces downward pressure. China will be able to achieve its main economic targets this year and maintain medium to high-speed growth, he said. The government is aiming for annual economic growth of 6.5-7 percent this year, compared with 6.9 percent in 2015, the slowest expansion in a quarter of a century. Despite a rocky start and weak exports, China’s economy grew 6.7 percent in the first half, buoyed by higher government infrastructure spending and a housing market frenzy which is beginning to raise fears of overheating. Li said the government will take effective measures to ensure the stable and healthy development of the property market, and will encourage cities to set their own real estate policies. More than a dozen cities including Shanghai and Beijing have tightened restrictions on property purchases in recent weeks to cool prices. China’s debt risks are under control, Li said, but the government will take steps to reduce high debt levels of non-financial firms to help ward off financial risks. Non-performing loans are rising but the banking sector will be cushioned by ample liquidity and sufficient bad-loan provisions, he said. S&P Global said yesterday that rising debt levels will worsen the credit profiles of China’s top 200 companies this year, requiring the country’s banks to raise as much as US$1.7 trillion in capital by 2020 to cover a likely surge in bad loans. On Monday, China unveiled guidelines to reduce rising corporate debt levels, such as encouraging mergers and acquisitions and debt-for-equity swaps. Debt is one of China’s biggest challenges, with the country’s total debt load rising to 250 percent of gross domestic product. The premier also reaffirmed the government’s goal of developing the country’s capital markets to help reduce the reliance on bank lending.
Source: Shanghai Daily.
Yarn Expo Autumn returns this week to the National Exhibition and Convention Center in Shanghai from October 11–13 with a record number of exhibitors and exhibition space. Exhibitor numbers have increased from 258 in 2015 to over 270 this year, while the exhibition area has expanded by 35 per cent to 11,500 sq. metres, thereby breaking the show’s record. Exhibitors will be seen from 12 countries including China, Hong Kong, Bangladesh, India, Indonesia, Korea, Pakistan, Singapore, Switzerland, the US, Uzbekistan and Vietnam. “Following on from the strong business sentiment of the yarn and fibre industry at the spring fair in March, we are just as optimistic for this edition as well, given that the exhibitor number has risen once again to a new record for the fair,” Wendy Wen, senior general manager, Messe Frankfurt (HK) Ltd, said.
Source: Fibre2fashion.
Organisers behind this year’s autumn edition of the Intertextile Apparel Fabrics exhibition, which opens its doors to visitors today, have expressed their excitement ahead of a strong series of seminar programmes, lectures and Forums dedicated to the likes of functional textiles, smart fabrics and digital textile printing. The biennial show, which is taking place from 11 - 13 October at the National Exhibition and Convention Centre in Shanghai, includes a panel discussion on how recent global technology developments of smart wearable devices (such as VR and AR technology) are influencing the textile industry. “Performance apparel is now one of the fastest growing sectors of the global textile industry,” organising company Messe Frankfurt’s senior general manager Wendy Wen said during the show’s opening conference. “A recent report suggests that the market could exceed US$83 billion by 2020 - more than 30 per cent growth. “Specifically in China, the potential in the sportswear market is huge. According to figures from the Shanghai Sports Bureau, the country’s market is set to be worth US$749 billion by 2020.” “Last year, we launched the Functional Lab area for the first time, which showcases the latest innovation and technologies in textiles, and its appearance again this year shows we have another rich programme for this autumn edition,” she added. More Forum seminars specifically targeting the functional and smart textiles market during the exhibition indicate the way in which the industry is evolving in China. For instance, one lecture led by the TÜV SÜD will assess how the Chinese technical textiles market can meet the stringent and often complicated requirements for chemical and safety testing in cross-industry products. Meanwhile, another one of this year’s Forums is dedicated to digital printing - with DTP company Kornit presenting its ‘Allegro’ technology. The waterless printing system is said to not require any external processes such as pre-treatment, steaming and washing. As ever, T.EVO will be reporting live from Intertextile during the course of the show, with updates from seminars and lectures (as well as live news, comment and analysis from the exhibition) will follow on our website.
Source: T.EVO
