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Creating a New Development Pattern for the Sewing Machinery Industry

Time:2023-10-30 Browse Volume:331

Speech delivered by General Director Yang Xiaojing at the Intl Cooperation and Development Forum

First of all, a warm welcome to all the guests present at International Cooperation Forum in the sewing machinery industry with the theme of “Seize New Opportunities and Build a New Pattern".

Since CISMA2019, the growth rate of the international sewing machinery industry has slowed down due to factors such as the COVID-19 pandemic, shrinking demand, and weakening expectations. But we are also pleased to see that the development mode of the sewing machinery industry is gradually changing from a scale-quantity model to a quality-benefit model. While leading companies are becoming stronger and bigger, a number of new and specialized companies have emerged to provide international sewing services. The development of the machinery industry has been injected new vitality.

Human beings live in a common global village, and the sewing machinery industry is our common home. We look forward to working together, looking far ahead, moving forward hand in hand, facing the new stage, seizing new opportunities, and jointly creating a bright future through building a new pattern of international cooperation.

To seize new opportunities, we must jointly tap into growth drivers. The world economy has entered a period of conversion between old and new driving forces, that is, new models replace old ones, and new business modes replace old ones. The sewing machinery industry has also entered a period of transformation from automation to digitalization and intelligence. We must find the right entry point, seize the historical opportunities brought by new technologies, gather global wisdom, overcome common problems, develop the digital economy, and promote smart sewing.

To seize new opportunities, we must work together to break development bottlenecks. The current slowdown in the international sewing machinery industry is traced back to the economic downturn and shrinking demand. In 2022, the growth of global apparel exports slowed down, and global textile exports has decreased by 4.2% compared with 2021. At the same time, the global footwear market increased by 18.2% in 2022 compared with 2021, the consumption of upholstered furniture increased by 2.9% year-on-year, and the expansion of sewing machinery application fields will leave room for industry development. We must grasp the key points and, with an inclusive and open mind, strengthen exchanges between industries and enterprises in various countries in terms of product research and development, formulation of international standards, protection of intellectual property rights. Cooperate, work together, and expand the market, so that innovative results can be applied in a wider range of fields.

To seize new opportunities, we must work together to tighten the bonds of cooperation. In 2022, China's sewing machinery industry had a total annual output of approximately US$7 billion, with cumulative exports of US$3.43 billion, a year-on-year increase of 9%. Among them, the export volume to BRI countries was US$2.29 billion, a year-on-year increase of 16.4%, and its proportion to the aggregate export volume increased from 54.3% in 2013 to 66.8%. It can be concluded that China is both the "world factory" and the "world market". We have a vast domestic market and a strong ability to develop overseas markets. We must seize the joint point, adhere to the principle of extensive consultation, joint contribution and shared benefits, and promote sewing machinery enterprises from various countries to strengthen cooperation in terms of products, funds, technology, talents, markets, etc.

The world cannot develop without China, and China cannot develop without the world. Even if there is a bumpy road ahead, we will surely be able to find a way to mutual benefit and win-win results as long as we have faith, work together, and help each other. China Sewing Machinery Association is willing to work with industry chain partners and end-users around the world to share opportunities, create a better future, and provide global users with better Chinese products, services through high-quality development plan.

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