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From the onset of the 13th five-year plan, the sewing machinery industry in China, though faced with the new norms produced by complicated domestic and foreign economic situation and the huge challenges posed by the pandemic, has made significant achievements in internal and external trading, and fulfilled the phase-one goals put forward by the power strategy by means of adhering to the overall scheme of "Made in China 2025" and power strategies of the sewing machinery industry, and unswervingly pursuing for development and innovation in face of difficulties and hindrances; now, "it has technically developed the capacity to meet diverse market demands, its strength and international competitiveness has caught up with Japanese and European counterparts, the whole industry has become one of the top players, and our country thus has realized the leap from a manufacturing giant to a manufacturing power."
I. Continuous improvement of sales scheme in domestic and foreign markets, and sustained innovation of business and trading pattern
In 2020, China's sewing machinery industry has yielded a trade value of 34.5 billion CNY in domestic market, falling 2.28% per year since 2015. As new business mode and activities keep emerging, distributors, on the whole, has been transitioning themselves from the conventional model of limited region agency to a new one of new tech application, service trade, whole-factory solution supplier, etc. Moreover, the burgeoning of complementary tools like digital platform, financing and renting has facilitated the transformation and upgrade of commercial activities.
II. Accelerated growth of foreign trade with the "Belt and Road" initiative as core feature
China's sewing machinery industry has contributed an export value of 2.36 billion dollars in 2020, 0.11 billion higher than that in 2015, and secured a market share of 4% globally. The value of export to the 64 countries along the "Belt and Road" has grown from 1.33 billion dollars in 2014 to 1.66 billion dollars in 2019; accordingly, its market share has increased from 55.7% in 2014 to 66.7% in 2019, with a yearly growth rate of 2.2%, which is 1.4% higher than that of the foreign trade during the same period.
III. Quick structural adjustment of products, and noticeable technical upgrade
The percentage of common products has declined while that of high-tech products has grown steadily, including intelligent lockstitch sewing machine, intelligent overlock stitch sewing machine, automatic special machine and sewing unit; the share of automatic sewing machinery has risen from 60% in 2015 to 90% in 2020, and the share in medium and high-end markets goes up gradually; the unit price of exported industrial sewing machinery increases 2.83% per year.
IV. Gradual improvement of market concentration, and fastened pace of joint venture and co-operation
Over the past 5 years, the leading enterprises in the industry have agreed on 15 proposals of joint venture and cooperative venture, and more than 30 companies have set up their branches and affiliates overseas. The percentage of above-designated-size enterprises in the top 20 sewing players has risen from 34% in 2015 to 56% in 2020, and the number of trading company nationwide has reduced from 15,000 in 2015 to 12,000 approximately in 2020.
Since it has already "technically met diverse market demands", China's sewing machinery industry will continue to progress towards "fully satisfying clients' demands, guiding the market and developing creative capacity". It will also endeavor to build a high-standard market system, so as to ignite the vitality of key players in the market, reinforce their competitiveness in domestic and foreign markets, speed up the high-quality development of the industry, and spare no efforts to establish a new development scheme, in which domestic macro-circulation, as the focus, complements with foreign circulation.
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