CHINA: Experts Alarmed By High Rate Of Equipment Imports
Experts have warned that the rapid growth in China's textile equipment imports will bring problems to the industry, Asia Pulse reported today. Experts are concerned that projects are being launched too quickly, without sufficient planning and that far too much equipment is being brought into the country, much of it similar and, more worryingly, already out of date.Jiangsu imported 1,861 looms in the first seven months of the year, 384 per cent more than the same period in 1999. Such levels of similar imports will increase market competition, industry insiders said. Most of the imported equipment is outdated, some of it even dating back to the early 80s. Statistics showed that Jiangsu imported $210m worth of textile machinery and fittings in the first seven months of this year, surpassing the total import of the same kind of products in 1999.
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