China’s textile and apparel exports dropped 2.2 per cent between January and October 2019. Shipments to the US, the European Union and Japan declined 4.5 per cent, five per cent and 5.5 per cent.
To improve the product value and tackle climate change, green textile products have already become the new trend in the textile industry. Textile makers in China have begun to adopt renewable energy sources, environmentally-friendly textile materials including biomass fiber and recycled substances to make the whole production process pollution free, as well as cut dependence on crude oil when producing common synthetic materials such as nylon or polyester.
Domestic companies are having a rational attitude toward relatively advanced industrial applications like quantum computing and other emerging technologies, and deploying more resources in innovation and green development to better compete with their established global rivals. Crossover branding has become a hot term for many sectors. Brand collaboration arouses consumers’ curiosity, giving them a new reason to spend. It usually generates unexpected market feedback and decent sales both at home and abroad. Ningbo Peacebird Fashion, for instance, plans to expand its global presence with more flexible branding strategies, international designers and innovation. The firm will enter overseas markets, such as Vietnam and Malaysia, after learning of local consumers' higher purchasing power and changing lifestyles.