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 | Thursday, April 13, 2000, updated at 08:59(GMT+8) | ||||||||||||
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China Foresees Larger Sales of Textile MachineryChina's home-made textile machinery will be more popular this year, with sales climbing to 12 billion yuan (US$ 145 million) and exports hitting US$ 200 million, according to "China Materials News."Gao Tong, vice chairman of China Textile Industry Association, expected the sales of textile machinery to resume its peak in the 1993-94 period, basing his forecast on orders received by manufacturers. China's textile industry, which has been declining in recent years, is upgrading its technology. The exports of Chinese textile machinery is also undergoing rapid growth with an estimated increase of 20 percent thanks to the state's taxation policies and improved production. Gao called for greater attention of the government to development of new products as well as more favorable taxation policies in view of the sustained growth of the textile machinery industry.
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