Great Potential for Cooperation between China and Vietnam in Textile Trade

China has a long history of textile and garment production, with outstanding experience and technology. It is also one of the earliest advantageous industries in China to enter international competition. The upstream enterprises in the textile industry consisting of chemical fiber, yarn, silk and textile machinery etc. occupy the first echelon in the world and have a considerable scale of supply capacity. 

With strong ability of market penetration, many brands exploit and capture the international market with their own style and innovative design. Furthermore, Chinese textile industry has changed from traditional labor-intensive to technology-intensive after years of transformation and upgrading, which drives the introduction of intelligent and automated production equipment to greatly improve production efficiency and product quality. At the same time, the development and application of ecological, functional and technological fabrics also reflects the textile industry's positive response to sustainable consumption needs.

Asia is the main market for China's fabric exports, with a cumulative export of $6.93 billion to Asian countries in January-February 2024, accounting for 65.2% of the total fabric exports. Asia is the main market for China's fabric exports, with a cumulative export of $6.93 billion to Asian countries in January-February 2024, accounting for 65.2% of the total fabric exports. Asia accounted for eight of the top 10 target market exports. Vietnam, as the largest single market for China's fabric exports, accounts for 21.1% of China's fabric exports to the world, with exports of $1.47 billion. It is obvious that China and Vietnam have great potential in textile trade cooperation.

Vietnam is a socialist country with stable political situation, its economic and trade environment in 2023 shows a satisfactory trend, especially in textile industry. In this rapidly growing and promising market, there are bound to be many business opportunities.