Speaking at the recent Intertextile Shanghai Apparel Fabrics show, Mr Xu Yingxin, executive vice president of the sub-council of the textile industry (CCPIT), described China's strategy for going global. In reaction to rising domestic labour and raw material costs, Yingxin spoke of a three pronged attack for international success. The first prong is investment in Chinese manufacturing overseas in countries such as Vietnam and Bangladesh. Next is expertise, relocating R&D hubs to places like Italy. Lastly is the acquisition of foreign manufacturers.
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