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Zhejiang issues measures to support high-quality development of textile industry

Updated: January 6, 2024 L M S


Zhejiang Provincial Innovation Center of Advanced Textile Technology in Keqiao district, Shaoxing, East China's Zhejiang province. [Photo/Tide News]

Authorities in East China's Zhejiang province have issued measures to support the high-quality development of the textile industry in eight major areas.

The textile industry is a traditionally advantageous industry in Zhejiang, with the annual operating income exceeding one trillion yuan ($139.7 billion), making it the largest in the country.

In fact, Zhejiang hosts over 100 textile-related events annually, including the World Textile Merchandising Conference and the Ningbo Fashion Festival, facilitating exchanges in the textile sector.

According to the newly issued measures, Zhejiang will strengthen the core areas and collaborative zones of modern textile and clothing industry clusters, increasing support for the construction of headquarter-type enterprises and encouraging textile companies to engage in cross-border mergers and acquisitions.

These measures are aimed at further encouraging the expansion of the province's textile industry and to increase orders.

More specifically, at least 300 economic and trade delegations and 2,000 companies will be organized annually to participate in overseas exhibitions and business negotiations.

To enhance innovation, Zhejiang will also strive to recognize at least 100 new textile high-tech enterprises and at least 300 science and technology-based small and medium-sized enterprises (SMEs) each year.

The province also seeks to establish at least one provincial key enterprise research institute, five enterprise research institutes, and 50 high-tech enterprise research and development centers in coming years.