The government of northwest China's Xinjiang Uygur autonomous region has promised policies including rent-free factories and favorable loan deals to boost the local textile industry and create 11,000 jobs this year. Xinjiang will establish a fund for textile and garment companies to help them increase exports to central and western Asia, Russia and Europe, said Liang Yong, deputy secretary-general of the regional government. New companies from other provinces will be offered new rent-free

Qingdao city, Shandong province has planned to open a business incubator for textile enterprises, and it will be ready in less than two months, according to a report by Qingdao Daily on March 27. The incubator, named "Textile Valley" and located in the Shibei district, will be spread out in an area of 100,000 sq m, enough for up to 500 companies. The first phase of the project will be put into operation as early as mid of May, said the Human Resources and Social Security bureau. The incuba

The government on Monday revised the cash incentive scheme for the current fiscal year of 2015-2016, raising the rate of incentive for textile products export to the eurozone area and leather goods. Potato starch will also get 20 per cent cash incentive against export proceeds. Bangladesh Bank on Monday issued a number of circulars in this regard. According to a circular, the government increased the rate of cent cash incentive for export of textile products to the eurozone area to 6 pe

All Pakistan Textile Mills Association Chairman Tariq Saud has urged the government to immediately impose a 15 per cent Regulatory Duty on the import of man-made fibres (MMF), particularly polyester viscose yarn, polyester cotton yarn and pure polyester yarn. In a statement, he said an emergency meeting of the member mills was held at the Punjab office of the Association to review the import statistics of the MMF for domestic consumption, which has increased by four times in last four years a

Shandong Ruyi to buy control of SMCP, the French fashion group and owner of the Sandro and Claudie Pierlot brands at €1.3bn including debt. Sandro, Maje and Claudie Pierlot, which sell dresses priced at around €200, operate in the so-called accessible segment of the luxury market, enjoying solid demand among fast-growing middle classes, particularly in countries such as China. The deal, which is expected to be announced on Wednesday, would mark an abrupt reversal of plans for US private equit

At the Pakistan cotton market on Wednesday following the persistent demand by mills and spinners, witnessed improvement in the volume of business, dealers said. In Sindh, seed cotton prices were at Rs 2200-2400, and in Punjab prices were at Rs 2400 and Rs 2900. In the ready business, nearly 10,000 bales finalized between Rs 4750-5500. The official spot rate also remained unchanged at Rs 5,300. According to the market sources, volume of business improved as needy spinners indulged in panic

With the demand for synthetic fibres which includes nylon, acrylic and polyester continuing to increase in Zimbabwean market, cotton farmers are left with no choice but to brace for lower producer prices for the crop in the coming marketing season compared to the previous year. Synthetic fibres are the result of extensive research by scientists to improve on naturally occurring animal and plant fibres. In general, synthetic fibres are created by extruding fibre forming materials through spin

The Trans-Pacific Partnership (TPP) is hoped to bring more opportunities for Vietnam’s textile and garment sector in expanding markets and export, however, enterprises and policy-makers must quickly remove current obstacles as well as have synchronous measures. According to the Vietnam Textile and Apparel Association (VITAS)’s figure, turnover of textile and garment reached US$27 billion in 2015 yet the value of import was quite great and the sector still imported much Chinese commodities.

Experts have called for domestic enterprises in the apparel and footwear sectors to strengthen tie-ups for co-existence and growth at a time when Vietnam is intensifying international integration. At a seminar in HCMC last week on how the apparel and footwear sectors could make the most of opportunities from the Trans-Pacific Partnership (TPP) trade pact, experts said cooperation would enable businesses to join the global value chain. Competing with one another would benefit no one, they t

The volume of business improved on the cotton market on Wednesday following the persistent demand by mills and spinners, dealers said. The official spot rate was unchanged at Rs 5,300 dealers said. In Sindh, seed cotton prices were at Rs 2200-2400, and in Punjab prices were at Rs 2400 and Rs 2900, they said. In the ready business, nearly 10,000 bales finalised between Rs 4750-5500, they said. According to the market sources, volume of business improved as needy spinners indulged in panic buy