With growing Chinese textile industry, Chinese textile machinery import figures were larger than exports, but since 2012, machinery exports have overtaken imports. In China, there are more than 100 knitting machine producers. These companies are now selling hi-tech technologies in knitting. About 15 to 20 per cent of the textile machinery produced in China is exported. There are some companies which export around 50 per cent of their production.

The Chinese textile industry offers textile machinery at most competitive prices. Indian companies have expressed interest in Chinese textile machinery, because the price is very competitive. For example, a knitting machine offered by European companies is double the price supplied by Chinese companies of nearly the same technology. European companies have been in business for several decades and Chinese companies are trying to catch up.

A lot of innovations are happening in the Chinese nonwoven machinery sector. The Chinese knitting sector uses hi-tech technologies. The China Textile Machinery Association has 600 members who are manufacturers of textile machinery and spare parts. CTMA also has foreign companies as members who have set up offices and factories in China. To enhance the country’s position in the global value chain, China has drawn up a roadmap to upgrade industries through innovation.