2024 7th World Cloth Merchants Conference: Exploring New Paths for Value Creation!

The tide of the new era is surging, and the new journey is full of grand visions. Amidst the sweeping changes in the global textile industry, the flourishing development of new quality productivity is acting like a strong east wind, steering the entire industry towards the grand goal of high-quality development. Facing the continuous iteration of technology and the increasingly diverse demands of the global market, the textile industry is advancing with unprecedented determination and courage to develop new quality productivity and actively construct new production relations that match it. Textile professionals are adopting an open stance and innovative thinking to collaboratively write a new chapter of industry transformation and upgrading.

On October 24, 2024, the 7th World Cloth Merchants Conference was grandly held in Keqiao, Shaoxing, the international textile capital. With the theme "Fashion Realm, New Quality Future," the conference spanned topics from innovation-driven technological productivity to fashion-leading cultural productivity, and low-carbon transition of green productivity. It focused on key areas such as creative design, technological research and development, ecological innovation, and open collaboration. The event provided forward-thinking guidance and value direction for the sustainable development of the industry by deeply analyzing the application and practice of new quality productivity in the textile industry. At the conference, leading experts from the global textile industry gathered to collectively explore new paths and opportunities for industry transformation and upgrading, promoting the creation of a more open and diverse innovation ecosystem and value cooperation chain within the global textile industry.

In addition, the conference was attended by officials from the embassies and consulates of countries such as Benin, Egypt, Pakistan, and Madagascar in China; leaders of textile industry associations from over 60 countries and regions, including South Korea, Singapore, Thailand, Vietnam, Malaysia, Kyrgyzstan, Nigeria, and South Africa; as well as renowned experts, executives from major enterprises and institutions, representatives from textile industry clusters' governments, and media representatives from both domestic and international spheres.

Wu Jing highlighted that Zhejiang's textile industry is a traditional strength and a key sector, forming a complete chain with chemical fibers, textile processing, and specialized equipment. Keqiao, as a major textile hub, is well-positioned to foster global industry communication. She hopes the conference will promote openness, innovation, and collaboration, guiding the global textile industry towards broader horizons and joint development.

Since the first World Cloth Merchants Conference in 2018, Shaoxing has driven innovation and transformation, focusing on "clustered" development and "intelligent" expansion. This approach has solidified its position as a leading textile city in China, known for its complete industry chain and large production capacity. Shi Huifang stated that Shaoxing will continue to pursue five strategic initiatives to revitalize the textile industry, aiming to become a global hub for textile headquarters, creative design, new business models, and trade exhibitions, thus contributing to the industry's high-quality development.

In his speech, Ganat Zumaghajiyev emphasized that Chuy Region is actively leveraging its resources to drive industrial upgrading, especially by enhancing product quality and competitiveness through technological innovation. Additionally, Chuy is intensifying efforts to expand into international markets and hopes to use the platform of the World Cloth Merchants Conference to attract more international investors and partners. The aim is to explore collaborative opportunities for mutual benefit. He stated that Chuy Region is committed to an open and cooperative approach, working together with all parties to create a new chapter of prosperous development in the light industry.

The global textile industry is currently undergoing significant adjustments and transformations in development paradigms, value standards, and market structures. Focusing on the industry's future and practical pathways, experts from government departments and authoritative institutions have released the latest trend reports on the textile sector.

In "Fashion Realm, New Quality Future," Sun Ruizhe highlighted the improvement in global textile trade, with China supporting stability and growth. The industry focuses on technology, fashion, and sustainability, driving innovation, digital fashion, and category enhancement. He urged the global textile community to innovate, collaborate for mutual prosperity, and pursue green transformation, contributing to a more open and inclusive world.

In his report, Christian Schindler highlighted that, despite geopolitical fluctuations and weak demand, the apparel and home textiles markets are thriving. China leads in textile value chain investments, while Vietnam and Bangladesh are expected to grow their apparel market shares. The rising demand for sustainable products is boosting the second-hand market, potentially impacting textile production. These insights provide valuable guidance for the global textile industry's future.

Textiles are central to Keqiao's appeal. Chen Hao noted that Keqiao leverages key advantages to drive industry transformation. Achievements include strengthened competitiveness through clusters, expanded global markets, and enhanced innovation with digital transformation.

Amid the current complex and changing global economic and industrial environment, the industry urgently needs to explore new development strategies. Christopher Pissarides and Fu Chengyu delivered keynote speeches focusing on the evolution of global trade and the direction of low-carbon innovation.

In his keynote speech "Global Economic Outlook and Trade," Christopher Pissarides analyzed four major shocks impacting the global economy since 2019. He discussed the foundations of globalization, trade evolution, and the current status of major global powers. Pissarides highlighted that early globalization was driven by cheap labor, but now companies prefer locations with skilled human capital, advanced technology, and abundant data resources. In light of challenges like the COVID-19 pandemic, rapid automation, and geopolitical tensions, he emphasized the need for new drivers in the international trade system, such as reforming the WTO, strengthening regional integration, and exploring more diverse cooperation models.

In his speech "Standing on Tomorrow, Winning in the Future," Fu Chengyu, former Chairman of Sinopec, emphasized that the significant changes of the past century continue, making uncertainty a certainty. He advised industries to keep up with the times by focusing on green, low-carbon, and high-tech development. Fu called for businesses to enhance independent innovation, prioritizing original and disruptive ideas as key growth drivers. To address overcapacity, he recommended adopting a global mindset and advancing technology through open cooperation and integrated innovation.

Li Yongjie, Executive Deputy District Governor of Keqiao, introduced major fashion industry projects at the conference. Keqiao is aiming to become an "International Textile Capital," focusing on industry upgrades, innovation, and fashion leadership.

At the conference, Keqiao established strategic partnerships with several authoritative professional organizations. These included signing ceremonies for the "Collaborative Project with the National Intellectual Property Administration Patent Office's Tianjin Center Zhejiang Workstation (2024-2027)," the "Italy National Fashion Association & Keqiao Cooperation Project," and the "WGSN Keqiao Trend Center Project." These agreements highlight Keqiao's commitment to fostering the fashion and creative industries and protecting intellectual property rights.The conference also featured the launch of the "2025 World Textile Industry Trend Outlook" and the inaugural ceremony for the International Textile Association China Cooperation Center.

The "2025 World Textile Industry Trend Outlook," created by top global experts and authoritative international bodies, analyzes new global textile industry trends. Focusing on "technology, culture, and green," it reviews industry developments and global innovations. The Technology section highlights advancements and digital transformation. The Culture section explores enhancing cultural productivity and industry growth paths. The Green section focuses on innovations in low-carbon materials and manufacturing trends, providing key insights for advancing new productivity in textiles.

The "International Textile Association China Cooperation Center" is an international service platform initiated by the Keqiao District People's Government and operated by the Shaoxing Keqiao Light Textile City Overseas Market Promotion Association. The center aims to deepen communication and collaboration among industry associations, promote the textile industry, and facilitate friendly interactions and win-win cooperation within the global textile sector. According to plans, the center intends to invite professional textile associations from 30 countries to join over the next three years, with Nigeria, Morocco, Pakistan, Russia, Thailand, Kyrgyzstan, Bangladesh, Ecuador, and South Korea among the first to participate.

Textile industry colleagues from around the world are gathering at this grand textile event, demonstrating the shared belief that "with united minds, nothing is impossible." This common understanding and joint effort lay a solid foundation for open cooperation in the industry. Such cooperation is not only an act of mutual pursuit but also a deep integration of sincerity and enthusiasm from all parties. By adhering to a spirit of openness and inclusivity, and with an unwavering commitment to creating a collaborative and prosperous development ecosystem, the textile industry is set to achieve closer cooperation across multiple fields, yielding fruitful results. This will contribute significantly to building a community with a shared future for humanity and will write a new, glorious chapter for the textile industry.

Source: China Textile