China has become the world's largest textile machinery manufacturer

According to a prospective website, as of the end of 2010, the total industry assets reached 77,613 million yuan, an increase of 27.78% year-on-year; the industry realized sales revenue of 81.565 billion yuan, an increase of 42.13%. Overall, after experiencing the decline in the industry's growth rate in 2008, the pace of industrial scale expansion has accelerated significantly and the overall development trend is good.

From a global perspective, in the past, the competition in the textile machinery manufacturing industry was mainly concentrated in textile machinery production countries such as Germany, Italy, and Switzerland. However, in recent years, driven by the domestic and Asian market demand, the scale of China's textile machinery manufacturing industry has continued to expand. At present, China has become the world's largest textile machinery manufacturing country.

Forward-looking Industry Research Institute textile machinery manufacturing industry research team said that world-renowned textile machinery companies have invested and set up factories in China one after another. The production scale of these enterprises in China has reached one-third of the total output of China's textile machinery. In addition to the Chinese market, equipment produced by foreign-funded enterprises is also exported in large quantities and even counter-sold back to the country of origin. China is shifting from one of the largest textile machinery demand markets to the Asian textile machinery manufacturing center and even the world textile machinery manufacturing center.

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