$3.2bn textile fund for cotton-producing Xinjian - sportstextiles: Lea SportsTextiles

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$3.2bn textile fund for cotton-producing Xinjiang region

18/07/2014
The Chinese government has set up a $3.2 billion fund to boost the textile industry in the Xinjiang region, a troubled part of the country which suffers from high unemployment and ethnic tensions.

The fund will support the industry for more than a decade and result in the employment of 1 million people, Yan Qin, the deputy secretary general of the Xinjiang regional government, told media agency Xinhua.

"Assisting the labour-intensive textile industry is not only to shift it towards the base of raw materials and open up the west, but also carries the significance of safeguarding social stability and realising long term peace and stability," he said.

In May it was announced that because China was restricting its support for cotton to just the Xinjiang region, production in the rest of the country is expected to fall significantly – from 6.7 million tons in 2013/14 to 6 million tons in 2014/15.

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