China International Cotton Conference Targets Stable Growth
In these times of uncertainty, Chinese officials seeks to steady market volatility and wild price fluctuations.
July 8, 2011
One of the most urgent goals of the Chinese cotton industry is identifying strategies to steady market volatility and price fluctuations, according to Dai Gongxing, deputy director of the All China Federation of Supply and Marketing Cooperatives. Gongxing made the statement during his keynote address at the China International Cotton Conference, which was held on June 15-16 and drew more than 1,200 attendees to Dalian, a coastal city in Laoning Province.
Madame Gao Fang, president of the Chinese Cotton Association (CCA), welcomed the delegates in the opening ceremony and introduced the conference theme: “Risks and Opportunities: The Future Development of both the Chinese and World Cotton Industries.” The biannual conference is jointly organized by CCA, the Research Centre for Rural Economy of the Ministry of Agriculture, and the China National Cotton Exchange. The program was split into four topical areas:
- Macro Economy and the Cotton Industry
- The Cotton and Textile Markets
- Future Developments in China and the Global Cotton Industry
- A Round-Table Discussion
In his keynote address, Gongxing also pointed out that some of the advantages enjoyed by China’s textile industry – such as low labor and energy costs, as well as the ready availability of raw materials and capital – are slowly disappearing, while new challenges (supply and demand imbalance, a difficult trade environment and currency issues) continue to emerge. Many of the industry's great advantages remain, however, such as having an integrated supply chain, abundant labor, and the resources needed to upgrade quickly.
On the bright side, he pointed to the burgeoning popularity of the “Cotton China” mark, which last year became a major initiative of the China Cotton Association and its president, Madame Gao Fang. He concluded his keynote address by saying, “As an old Chinese saying goes, ‘A single thread can’t make a cord, nor a single tree make a forest.’ Difficulties are temporary but cooperation is perpetual.”
The China International Cotton Conference, along with many other significant developments, will be covered in greater detail in Cotton International’s Special China Report in the upcoming Q3 2011 issue, which will be available in September. The China Country Report will be a comprehensive look at the world’s largest cotton producer and importer from every angle, including textiles. If you have questions about China’s cotton and textile industries, you’ll find the answers here!