Countries and regions along the Belt and Road Initiative (BRI) have become major destinations for China’s overseas investment in the textile sector, an industry association has said. Over 80 per cent of the industry’s global investment has flown to the BRI region in the past five years, according to the China National Textile and Apparel Council (CNTAC).
The textile industry can help industrial development, as well as create national wealth and employment in BRI regions, said CNTAC Deputy Director Xu Yingxin. The CNTAC will facilitate international textile production capacity partnership, especially the development of overseas co-operation zones, Xu added. Industrial data showed that China’s textile and apparel export to the BRI region continued to grow in 2018, up 5.3 per cent year on year.