Spinning production capacity has gone through high-speed growth cycle
At present, the national textile scale is about 120 million spindles. Since the implementation of the “Environmental Protection Tax Law” in 2018, the cotton textile industry has been upgrading its equipment to meet environmental protection requirements, and the industry has reshuffled its brands to become more internationally competitive. In 2018, China’s spinning capacity has passed the high-speed growth cycle and entered the stage of transformation and upgrading. Chinese textiles are likely to gradually abandon mid- to low-end products while increasing the investment in foreign assets. In the next 5-10 years, China Textile will embark on the development path of technology, fashion, green, and product diversification.
China's cotton production and area are declining year by year, and the pattern of cotton production will also gradually change. The area in Xinjiang will increase and the area of cotton planted in the Mainland will decline.