This year marks the 10th anniversary of the joint construction of the “Belt and Road” initiative. In the past 10 years, the total annual import and export trade of China's textile industry and the "One Belt, One Road" countries' textile and apparel imports and exports has increased from US$107.63 billion to US$140.49 billion, a cumulative growth of 30.5%. In 2022, my country's exports of textiles and clothing to countries participating in the "Belt and Road" initiative will amount to US$126.2 billion, a year-on-year increase of 11.1%, which is 8.5 percentage points higher than the industry's global export growth rate. China’s “One Belt, One Road” policy has a profound impact on the textile industry of the countries along the route. The following are the main impacts:

Market development: Through the "Belt and Road" policy, China has promoted economic cooperation and trade with countries along the way, and strengthened market ties between the two sides. This provides China's textile industry with a broader market and enhances export opportunities. At the same time, the economic development of countries along the way has also stimulated the growth in demand for textiles, creating more opportunities for China's textile exports.

Technology cooperation and transfer: China's textile industry has competitive advantages in technology and production capacity. In cooperation with countries along the way, China can share advanced textile technology and management experience and build textile production bases in some countries. This will help improve the textile industry level of countries along the route and promote technology transfer and industrial upgrading.

Industrial chain cooperation: Under the "Belt and Road" framework, China has established closer economic cooperation with countries along the way, forming a more complete textile industry chain. Chinese textile companies can make better use of the superior resources of countries along the way, such as raw material supply, processing technology, etc., to form transnational industrial chain cooperation and improve the efficiency and competitiveness of the entire industrial chain.

Infrastructure construction: China carries out infrastructure construction in countries along the route, including the construction of ports, railways, highways and other transportation facilities. This facilitates the transportation and logistics of textiles, reduces transportation costs and time, and promotes the development of textile trade.

China's "One Belt, One Road" policy has strengthened economic cooperation and trade between China and countries along the way, provided the textile industry with a broader market and development opportunities, promoted technological cooperation and transfer, strengthened industrial chain cooperation, and improved overall competitiveness. At the same time, infrastructure construction also provides convenience for the logistics and transportation of textiles, further promoting the development of the textile industry. The Silk Road spirit of peaceful cooperation, openness and inclusiveness, mutual learning, and mutual benefit is the most important source of strength for jointly building the Belt and Road Initiative.  Get more polyester yarn information from https://www.chinaspunyarn.com/.

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