“We expect to strengthen China’s economic ties with developing countries,” Bo told the third global textile economic forum in Beijing Monday”.The move will benefit both sides because it will not only help Chinese firms but will also create jobs in target countries.Bo said the government would also help firms establish research and development (R&D) production and sales centres abroad .The move to establish overseas co-operation zones is a new focus for China’s outbound investment, according to a source involved in the project” He said major investors in these co-operation zones could be enterprises from a specific province or a municipality, adding that China’s coastal regions, with a strong textile industry, could provide the first group of investors”Although some domestic textile firms have already invested abroad, most investors are large enterprises. Small and medium-sized enterprises SMEs), even if interested in manufacturing abroad, are not able to afford the costs of setting themselves up”This move is a practical way in which we can support them,” the source said”A number of developing countries have shown an interest in Chinese investment in the textile sector, which is regarded as one of the most complete and comprehensive industrial sectors in the country”The minister also said that the Chinese government would strengthen the protection of intellectual property rights (IPR) in the textile industry”He explained that many Chinese textile companies were in the process of transforming themselves from manufacturers for foreign brands to developing their own brands”The government will also help enterprises develop their own brand names through events and trade shows across China”China’s textile sector achieved steady growth in both exports and production last year despite trade disputes with its main trading partners and price rises of raw materials. .Source: newkerala.com
Date:3/30/2006
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