??? THE city’s clothing and textile industry has had a dramatic year. ??? According to statistics, demand from the domestic market has increased sharply and many companies made big profits at the beginning of last year. However, since the second half of last year, many companies had problems in finance and stocks in reserve. At the end of the third quarter, 11.9 percent of the country’s big textile companies faced losses and the situation continued in the fourth quarter. ??? However, the city’s Textile Group kept growing fast throughout the year. The group’s sales revenue and profit increased by 75.4 percent and 30.29 percent respectively. “It is the industrial transformation that helps us develop fast last year,” said Yan Yong, president of the company. ??? Industrial transformation ??? Many textile companies faced losses last year due to the sharp increases in raw material and labor costs, said experts in the industry. ??? On the other hand, a decrease in overseas demand was another problem for the companies. The recession in the United States and Europe had caused a sharp decrease in orders. Many textile companies said at the China Import and Export Fair in November that the number of orders in the United States and Europe was even worse than 2008. ??? “Because of the increase in cost, many textile companies moved their factories to countries such as Vietnam and Indonesia. Under such circumstances, the industrial transformation is our only way out,” said Yan. ??? Fiber technology ??? According to the plan, fiber technology will be promoted in the next five years in the country and the group has become one of the leading companies in the area due to the achievements made in the high-end fiber area. ??? The company had nearly 5,000 types of new yarns last year, becoming a national base for yarn. The market share of its new yarn was No.1 in the country, making the company a “high-end textile expert” in China. ??? High profitability ??? The company’s ability in risk control also increased a lot last year. Among the company’s fiber materials, only 20 percent were cotton fiber, the rest were all new and high-end fiber which can bring big profits. ??? Branding also helps the company to improve its influence on the market and increase profit. | 