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  • China's National Development and Reform Commission (NDRC) recently stressed on efforts to properly implement the country's optimised epidemic response while better coordinating epidemic prevention and control with economic and social development next year. NDRC chief He Lifeng called for accelerating development of modern industrial and logistics systems.Reform and development authorities at all levels nationwide should work hard to stabilise growth, employment, and prices, and vigorousl
  • Israeli, US and German scientists have found ancient cotton fibres dating back 7,000 years in Tel Tsaf, a prehistoric village located in the Beit She'an Valley near the Jordanian border in Israel and north of the West Bank, the University of Haifa recently said. It is the earliest evidence in the ancient Near East of use of cotton fibres, they claimed.The cotton fibres’ origin is estimated to be in the Indus Valley. The earliest known evidence of cotton fibres used by humans in the ancient N
  • More than 99 per cent of foreign firms surveyed in China expressed confidence in China’s economic outlook for 2023, as per the China Council for the Promotion of International Trade (CCPIT). Around 91 per cent of such firms in the country are positive about the country’s response to the COVID-19 situation.About 98.7 per cent of the firms stated that they will retain and increase their investment in China, according to a survey of more than 160 foreign firms, commerce chambers, and associations c
  • Sustainability ran high in decisions, actions and policymaking across the European Union (EU) this year. The European Fashion Alliance and the Nordic Swan Ecolabel were launched; the £2-million Circular Textiles Fund in Scotland was unveiled to help reduce the environmental burden of textiles; and EURATEX planned fibre-to-fibre recycling for 2.5 million tonnes of textile waste by 2030, writesDipesh Satapathy.Here is a glimpse into some of the major developments in the bloc.PolicyNovember saw bus
  • China will continue to widen opening-up and guide foreign firms to invest in areas like energy conservation, modern services and advanced manufacturing in its market next year, according to the ministry of commerce. The government will make appropriate reductions to the negative list for foreign investment, said ministry spokeswoman Shu Jueting.China will actively seek to join high-standard economic and trade agreements, follow relevant rules, regulations, management and standards, and steadily
  • The global number of installed short-staple spindles has grown from 219 million units in 2020 to 225 million units in 2021. The number of installed open-end rotors slightly increased from 7.9 million to 8.3 million. These positive trends contrast with the previous years, mainly because capacities are growing in Asia and Oceania again, led by China, as per a recent report by the International Textile Manufacturer Federation (ITMF).The tendencies observed in other regions are stable. The number of
  • The import and export volume handled through the Horgos port in northwest China's Xinjiang Uygur Autonomous Region (XUAR) between January and November this year was worth 271.94 billion yuan (about $38.95 billion)—up by 5.8 per cent year on year (YoY), local customs authorities said. The exported commodities included high-tech products and textile yarn.The port witnessed the total cargo volume rise by 2.5 per cent YoY to about 36.95 million tonnes during the period, ranking first among Xinji
  • The European textiles industry has expressed its concern regarding the drastic loss of Europe’s competitiveness and demanded urgent action to save the industry as well as tackle the energy crisis at the recent European Council (EUCO) summit. Recent trade data indicates that imports to the European Union (EU) have grown tremendously in 2022 (+35 per cent year-to-date).The chain of factors determining the sharp decline in Europe’s competitiveness is twofold. First, the energy cost in Europe is mor
  • The Asian Development Bank (ADB) has forecast 4.2 per cent economic growth in 2022 and 4.6 per cent next year for developing Asia and the Pacific regions. This forecast is lower than ADB’s previous estimates that were released in September, 4.3 per cent for 2022 and 4.9 per cent for 2023. ADB updated this data in December due to worsened global outlook.Monetary policy tightening by central banks globally and in the region, the protracted Russian invasion of Ukraine, and recurring lockdowns in th
  • China was the largest market for South Africa’s fibre exports during January-September 2022 with a share of 36.32 per cent. It exported fibre worth $103.848 million out of its total shipment of $285.924 million in the period. Africa is developing its domestic textile industry, but China is a vast market to sell extra fibre, specifically cotton stocks.Despite being the largest market, African exports to China has witnessed high volatility. South Africa’s exports to China fell by 45.69 per cent ye
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