Editor's Note: The following is the in-depth observation of the “Top Ten Industrial Revitalization Plan” for the financial version of the financial observation program launched by the Shanghai Stock Exchange and the CCTV Economic Channel. From the 14th, CCTV invited the responsible persons of relevant industries and the drafters of the plan to enter the studio during the ten consecutive days of program time, and to face each other with everyone. Explore the front and back of the industry revitalization plan. This topic is "Revitalization Planning for the Textile Industry". The first page is an excerpt from the guest Du Yuzhou. The title is as intended.
Du Yuzhou (President of China Textile Industry Association)
Many people have misunderstood the textile industry adjustment and revitalization plan, thinking that the textile industry is not going to work, and now it needs to be strong. not like this. The recent spring market big event in the textile industry has just ended, and the exhibitors said that they did not expect the popularity of Chinese clothing exhibitions to be so high. There is another sentence to say, winter to spring to see textiles. Therefore, this plan is not a strong shot, but a policy to solve current difficulties and solve healthy development in the medium and long term.
The textile industry has made an important contribution to GDP. Household consumption accounts for 49% of GDP. Among them, clothing consumption accounts for 10.77% of urban residents, accounting for 5.9% of rural residents' per capita expenditure. Another contribution to GDP is the export trade surplus. The national trade surplus accounted for 29% of GDP, while the textile trade surplus accounted for nearly 60% of the national trade surplus. From 2001 to 2008, 83% of the country's trade surplus was created by the textile industry.
The textile industry is a labor-intensive industry with a very long industrial chain, with a total of about 20 million people. Now our exports account for 30% of the world, and over the years, we have risen from processing trade to OEM trade. It's my material, I design, I process, just post your brand. Our brand has also begun to go out in the past two years.
Some time ago, textiles were listed as sunset industry, and some places were eliminated within a time limit. Now the revitalization plan has once again made it clear that the textile industry is a pillar industry, an important civilian production industry, and an international competitive advantage industry. This not only inspires our confidence, but also encourages the confidence of banks. In the past, banks saw the textile industry without loans. .
In 2007, our enterprises above designated size realized profits of more than 100 billion yuan. The exchange rate factor and tax rebate rate factor that were digested in that year were 160 billion yuan, which caused two-thirds of enterprises to be on the verge of loss and loss. The plan is to increase the textile and garment export tax rebate rate to 16%, which is unique in all industries, in order to play the role of textiles, so that enterprises can have a virtuous cycle to survive this harsh winter. Export enterprises accounted for 20% of this year's scale. That is to say, one-year sales were about 3,000 billion yuan last year, and one-fifth of them were exported. The tax rebate rate for this part of the export is too precious for these companies. In the long run, I believe that China's textile and garment industry exports should implement a zero tax rate and conduct international fair competition in accordance with our VAT regulations. Of course, it is also essential to enhance our industrial competitiveness.
The second focus of the first 2 2 3 4 5 6 7 8 9 10 11 page is innovation. One is to innovate in technology. Last year or February of this year, the whole industry was indeed difficult, but 30% of enterprises had 23% increase in sales and 33% increase in profits because of innovation. These companies accounted for 98% of the total industry. It is time to extend this innovation to the entire industry. The second is the equipment update, which proposes that 50% should reach the international advanced level. Another point is to eliminate backwardness.
Our industry emphasizes two contributions: one is science and technology, and the other is brand. Now everyone agrees that brand is a way of life. Therefore, we can adapt to multiculturalism and diverse lifestyles, and we can achieve a good brand in the world. Now some foreign brands are doing for Chinese brands, but our brand is growing rapidly. Our fabric exhibition is 1001 brands this year, 777 Chinese brands, 224 foreign brands, and 29% of Chinese brands are self-made brands. of.
For a large number of small and medium enterprises, it is necessary to send charcoal in the snow. Small businesses do not necessarily use backward things. This plan focuses on public services, which is to create a public environment and promote the linkage between large enterprises and small enterprises. Even if the equipment is backward, management, technology, testing, and research and development can go up and serve him. Big companies will never be small businesses. Italy has been industrialized for nearly 300 years, and it is still dominated by small businesses.
So far, China's textile industry has only 4% of the country's capital, so this plan should be mainly for private enterprises. Private, state-owned enterprises and collective enterprises are the key points of policy support. The problem is that the method has been changed. It is not the country that selects several key enterprises, but focuses on the key technologies with coverage, and then promotes and popularizes them so that everyone can benefit. That is to say, private enterprises cannot pin their hopes on the government to take money to support technological transformation, but to take their own path.
If the Chinese textile industry can seize the opportunity of this financial crisis to accelerate the upgrade, then more people around the world will enjoy the benefits brought by Chinese textiles. Such a market is not to compress the profit space of the Chinese textile industry, but to expand profit margins. If we not only produce a product, but also create a product and form a controllable supply chain, the proportion of our profit can be gradually changed from the current 20% to 50% or 60%, up to 80%. I believe that this day is not far off. (organized according to the program)
No. 12 34567891011 The following is the host of the program dialogue: the audience in front of the TV, everyone, here is the "economic hot face to face." In today's program, we continue to work with you to interpret the top ten industrial restructuring and revitalization plans.
The industry we are paying attention to today is closely related to everyone's life. It may be the industry with the highest external dependence. Of course, it has become the first victim of this round of financial crisis. It is also one of our most internationally competitive industries. A huge trade surplus and a lot of trade frictions are caused by it. What kind of industry is this? We will find the answer in the next short film.
Moderator: Although we are experiencing such a severe cold at the moment, we also feel the spring of the bursts. This spring is from the adjustment and revitalization plan of the textile industry just introduced. I immediately know this side. Two guests. They are Mr. Du Yuzhou, the president of China Textile Industry Association, and Mr. Qiu Yafu, the chairman of Shandong Ruyi Group (000626, shares), welcomes both.
Many people have always felt that the newly-reformed textile industry's adjustment and revitalization plan is a strong agent for the development of the textile industry, but I heard a statement from President Du, saying that it is not a tonic, a promoter, why do you have such a statement? ?
Du Yuzhou: This time, I am a bit misunderstood about this plan. It seems like this is the idea of ​​a strong heart. It is said that the textile industry is no longer good. Now I am a strong-minded person, who is engaged in blood pressure, who is engaged in infusion, who is observing what, we It's not like this. We are, recently, the textile market spring event that we just finished, this activity is. There are a few words, the exhibitors said, first, I did not expect China's textile and apparel exhibitions to be so popular. Another sentence said that it was very cold outside. It was snowing that day, and the snow was very hot inside, so people said it, let’s talk about the textile industry. Therefore, it is not a cardiotonic agent, but it is promoted. It is a policy to solve the current difficulties and solve the healthy development in the medium and long term.
Qiu Yafu: After seeing such a revitalization plan, the general feeling is that it is very exciting, because companies of different levels can be interpreted from the revitalization plan, and the driving force and focus of our future development.
Moderator: What is the reason for the textile industry to be selected into the top ten industries, and now you can write the reasons you think of on the previous handwriting board. Now we are seeing a reason written by President Du, the pillars of people's livelihood, international competition, to explain to us.
Du Yuzhou: Our GDP and textile industry have made important contributions. Resident consumption accounts for 49% of GDP, 49% of clothing and clothing account for 10.77% of urban residents, and rural clothing consumption accounts for 5.9% of rural residents' per capita expenditure. Another contribution of GDP is our export trade surplus.
No. 123 4567891011 Du Yuzhou: The national trade surplus accounts for 29% of GDP, so the trade surplus of textiles accounts for nearly 60% of the national trade surplus. From 2001 to 2008, the national trade surplus of goods was 83%. It is created by textiles.
The second livelihood, the textile industry, is a labor-intensive industry, from cotton (information, market), farmers planting, to our clothing, home textiles and industrial textiles, this industry chain is very long, two thousand Ten thousand people, and currently 80%, more than 90% of migrant workers in the east and about 60% in the Midwest.
The third is our export competition. The percentage of exports in the world is 4% in 80 years, now 30%, and we have risen from processing trade to OEM trade in these years. The so-called OEM is to say, my materials, I design, I process, only post your brand. Now, in the past two years, our brand has also begun to go out. Like the one next to me, his fabric has reached the international high-end fabric exhibition. Now this international competitiveness should be very strong.
Moderator: Come and see Qiu’s answer right away. Some of Qiu’s answers are understood. For example, the words "the pillars in front" are the same as those emphasized by the president. It is a pillar industry, but how do you understand the five words? Gao, Wen, Min , business, and eternal.
Qiu Yafu: The reason why the first word is high, the high-tech industry, worn by people 15 years ago, we are wearing a suit, two and a half kilograms. After more than ten years of hard work, the current suit has become 800 grams. Here, biotechnology, information technology, and the revolution of our technology, I am a textile for more than 30 years, so such a good opportunity to explain to everyone is a high-tech sustainable industry. So the last one is a sustainable industry.
People's livelihood, the people, is more important than the people just mentioned by President Du, and all the people, from our birth to the crematory, have been inseparable from textiles every second and every second.
The so-called text, our textile is a cultural industry, is a cultural and creative industry, and its design of each flower shape depends on high intelligence, it is a high technology, but also a high creative industry.
So as for business, now everyone is watching, the national shopping malls, 70% of the 70% shopping malls are selling clothing, driving the prosperity of business, is contributed by textiles and clothing.
Page 1234 567891011 Moderator: I believe that everyone must be very concerned about what kind of content is included in the adjustment and revitalization plan of the textile industry that has just been introduced. President Du will be on the scene to make a release for everyone. Come, please.
Du Yuzhou: One of the first direct impacts of the plan, the export tax rebate rate for our textile and apparel industry has increased to 16%. This is only 16% of textiles in all industries, because it is necessary to play the role of textiles and let the enterprises now A benign cycle to spend this harsh winter. The second focus of planning - innovation. There are several aspects: one is to technological innovation. Last year or February of this year, the whole industry is indeed difficult, but we have 30% of the company's sales growth of 23%, profits increased by 33%, the 30% of the company's total profit accounted for 98% of the industry, why they are like this, Because there is innovation. Now we must extend this innovation to the whole industry. To help those who occupy the whole industry, 99.4% are small and medium-sized enterprises. We must strengthen public services, strengthen the popularization of advanced technologies, and strengthen the industrialization of scientific research.
The second one is the equipment update. In our plan, we propose that the advanced level of 30% should reach 50% international advanced level.
Another point is to eliminate backwardness and eliminate backwardness under market conditions. Now, in fact, this work is already underway. Now a large amount of non-ferrous funds have been removed from our advanced factories, eliminated, and now colorless funds. The proportion is already high.
In addition, the progress of our products, product development has become our focus, we also need to promote product differentiation.
Moderator: President Du specifically mentioned the continuous improvement of the export tax rebate rate. For enterprises, what is the special significance of this increase in export tax rebate rate?
Qiu Yafu: From the specific funds and benefits, then it is a huge percentage of support. For example, my company exports 250 million US dollars a year. The increase in export tax rebates for these points will bring me a profit of 65 million yuan. The income of this 65 million yuan, if the price of the product of this enterprise has If you are internationally competitive, I can take it up and invest in R&D, train design talents, hire top design talents, and improve our design of textiles and fabrics, fabrics, fashion trends and our technical content. This is the real sense of our textiles, a fundamental measure to promote international competitiveness.
Moderator: Everyone may still remember that since 2001, in order to maintain the smoothdown, it has dropped from 17% to 11%. When the export tax rebate rate keeps going down, what kind of influence has the company had? ?
Qiu Yafu: When the export tax rebate rate dropped to such a low level, it was very heavy for the enterprise at that time. It can be said that the blow is very heavy. Like our company, how can we calculate the account? How can we, the profit rate is only 5% to 8%? Ok, the industry is 12%, and it has dropped so much. Our mood at the time was indeed a reality, and we felt that textile is a dangerous industry. At that time, in 2006 and 2007, our profits were squeezed out by 45 million, which accounted for about 10% of our profits. The biggest problem at that time was that no matter whether you are a good company or a business, as long as it is stained with textiles and clothing, it will be black name and will not be supported.
Page 12345 67891011 Page Du Yuzhou: No money for entrepreneurs.
Moderator: No money.
Qiu Yafu: In addition, the development strategy of the company must be adjusted. Some developments will be slower, and some things that you want to do may be slowed down.
Du Yuzhou: As a high-risk industry. I said a big number, that is, in 2007, the profits of our enterprises above designated size were more than 100 billion. The factors that were digested in that year, the exchange rate factor, the tax rebate rate factor, and the sliding tax factor of cotton, together with 160 billion yuan, caused Two-thirds of companies are on the verge of loss and loss. Therefore, that is to say, it is reflected in all places, and then, my bottom line will be squeezed out.
Moderator: We must not only remember the pain, but also think about sweetness. Starting from April 1 this year, we have seen that the export tax rebate rate of the textile industry has increased from 15% to 16%. Can Mr. Qiu calculate the account with everyone, how big is this 1% strength?
Qiu Yafu: From the specific figures, 1% brings, specifically, like my company, I am probably 7 million, which has a great impetus to my overall improvement of international competitiveness.
Du Yuzhou: Export enterprises are exporting. If they are from the above scale, they account for 20% of this year. That is to say, one-fifth of the enterprises, if we say that our annual sales are about 3,300 billion, last year, One of the points is for export. The tax rebate rate for this one-fifth export is too precious for these companies. Let’s count it, this year’s April 1st, this year is a total of nine months, you can enjoy the tax rebate rate of this point, about Five billion, if it is all year round, it is estimated to be 8.9 billion. This is a point. If it is compared with 11%, it is five points, and five points are that it is more than 594 billion.
Moderator: In the industry, almost all of them are looking forward to the improvement of export tax rebate rate. Some people have expected 17%. Are you expecting to increase to 16% or 17%?
Qiu Yafu: Because of what, export tax rebate is an international standard, go to European countries.
Du Yuzhou: It is the same as the United States.
Qiu Yafu: To all developed countries in the United States, you bought clothes, bought textiles, and went to boarding the plane. With invoices, all taxes, that is, how much is refunded, international conventions, if we do not implement, we may be dangerous. Very big. This revitalization, we really feel very warm, if you come back to a bigger fire in this harsh winter, it may be better to retreat to 17%.
C: The capital market always reflects expectations. At that time, it was expected to be 17%. Later, although the export tax rebate rate was raised, but because it did not reach 17%, many listed companies related, his share price fell instead.
Moderator: If you say that in the long run, is there any way to do this?
Page 123456 7891011 page Du Yuzhou: In the long run.
Moderator: Need more attention and do our industry?
Du Yuzhou: In the long run, China's textile and garment industry should implement zero-rate, zero-tax export, in accordance with our VAT regulations, and take advantage of international fair competition. As for the way to cure the problem, the essence is to upgrade our industry. Even if it is a zero tax rate, it does not mean that our competitiveness will definitely improve.
Moderator: Is there any way in our planning about the cure you have just mentioned?
Du Yuzhou: We call it, our industry is called to increase the contribution rate: one is science and technology, and the other is brand.
Qiu Yafu: Some people like us, about 30% of the textiles inside, such large-scale backbone enterprises must increase investment in research and development. The dress I wear today looks like an ordinary suit. It is actually one. At present, all the developed countries in the world, including Italy, can't do 100% cashmere. Spinning, weight, the weight of each meter is only 180 grams, my suit, that is, everyone, cashmere is the soft gold in the textile fiber, is the best fiber. However, due to its length and fineness, it is impossible to spin more than 80, including Italy.
Moderator: There is an indisputable fact. Everyone sees that especially in the clothing industry, big brands don't seem to be the brand of our country. All of us are responsible for a kind of processing, this function. So you see that there are a lot of clothes that can be sold on Fifth Avenue, hundreds, thousands, and tens of thousands of dollars, but our processing fee may be only a few dollars. So some people say that our textile and garment industry is just a foreign job, but I don’t think everyone is willing to take up the role of this kind of foreign work. Is it possible that in a very short period of time, after our plan is introduced, we throw This hat of foreign work.
Qiu Yafu: Everyone thinks that China's textiles, our clothing is very low-end, can only be processed for others, actually not. It is because everyone always uses such a luxury brand to compare our hundred yuan and two hundred dollars with tens of thousands of sets of clothing.
Moderator: The contrast is too strong.
Qiu Yafu: Contrast, the fundamentals are irrelevant, the plane is not a thing for the cannon. Clothing, 80% of current consumption is the consumption of the public. Among the mass consumer brands, China does not have its own brand, nor does it have no independent innovation, and now it has reached the point where 40% of the people in developed countries are consuming Chinese brands. This is a great advancement in Chinese textile and clothing, and it is the most internationally competitive. Now, that is to say, the highest level, the so-called Fifth Avenue, all the big shopping malls in China, tens of thousands, and now even sell 80,000 suits, that is only the consumption of very small and very small consumer goods. By.
Page 1234567 891011 page Du Yuzhou:
Not many people buy it, it is advertising.
Qiu Yafu: Here we are indeed the direction that our Chinese textiles will advance in the future. We must work hard, but this effort can only be done in more than 40,000 textile and garment enterprises in China. I think there are about 50, 30 will do.
Du Yuzhou: Now some of our brands are made by foreign brands for Chinese brands. Now I have a number, everyone can know the growth of our brand. Our fabric exhibition this year is 1001 brands, 1001 brands, 777 Chinese brands, 224 foreign brands, and 29% of Chinese brands are their own brands. Going to the world, so China’s brand growth, Chinese brands go out is not called out, it is our China economy, this industry, it must go out. The government is promoting and creating good conditions, so I said that this plan is a promoter.
Moderator: The accelerator has been shown here again, but whether this accelerator can really play a role in promotion, we hand over the time to the observer group.
E: You are from this enterprise, through this merger and reorganization to make this enterprise bigger and stronger, this is no problem, but if we say, we are specific to our textile, this industry, industrial revitalization planning, I think we need to face more, more than 70% of small businesses. How much help does our merger and reorganization help them?
Qiu Yafu: We acquired a textile factory of 7,000 people last year and got support from all aspects of the government. Now 7,000 people are working safely, but if we are like this, we will get more through our technology and go to the industry. Comprehensive promotion, to enable these many small and medium-sized enterprises to acquire technology, get some new design inspiration, and advance some techniques to promote self-improvement and self-recovery. For example, we have a national industry promotion conference for embedded technology like Ruyi Textile. It should be said that according to the market law, which company is not willing to go, take this patented technology to promote, and we, like Ruyi, there are a large number of such enterprises, all of which are in the category of social responsibility promoted by the textile industry, we have More than 50 companies are the first to implement, they are not rewarding, to come out, let us share the technology throughout the industry.
E: Just now, when you mentioned this, I just want to ask President Du. In fact, just like the small and medium-sized enterprises that Qiu said, good small businesses may help from your merger or reorganization, or other technology transfer. Yeah, you may get some new students, but after all, they are a large number, 70% of the degree, how do you do more of this small business?
Page 91011 Du Yuzhou: In fact, your question is a key point that we plan to solve. For some large and medium-sized enterprises, we must solve the problem of charity in the snow. In the past, the concept was to support and strengthen the strong. Now we must support it. It is very obvious. But more is to help the poor, now for us, 70% of the enterprises, it, although it also digested a lot of difficulties, but it is pursued, the ability to develop innovation, the level of equipment of the enterprise are limited. For these companies, the focus of our plan is to emphasize public services. This kind of public service is to create a public environment, and then promote the linkage between large enterprises and small businesses. One is merger. I think big enterprises will never be small enterprises. . Italy has been a small business for 300 years. How about it? From the industry, an alliance is established from the market, and large enterprises drive small businesses. For example, we still have a brand. It has not come this year. It is Vosges Home Textiles. His industrial cluster, the small enterprise, basically serves him, and they are all legal persons.
Now the financial crisis is difficult and the funds are difficult. Nowadays, the big companies in our country are all responsible for solving the loan guarantee problem for the small and medium-sized enterprises, such as Shandong’s calculation, such as this, we are often familiar, like Bosideng, he is, the place is also Play the role of a large enterprise, solve some, can solve some loan guarantees, and drive small businesses. Moderator: This practice seems to be different from other industries, because in the revitalization plan of other industries, they have emphasized that one should eliminate backward production capacity. If we are to help in this spirit of poverty alleviation These, perhaps 70% of some small and medium-sized textile companies, will it keep some of the scattered situation that existed before?
Du Yuzhou: This small business, he does not necessarily use backward things, we want public services, that is, to upgrade them. Even if the equipment is backward, but his management, his technology, his testing, he can also go up and develop in this aspect, and can also serve him. Although these enterprises are small, he is an important part of the people's livelihood and the main body of employment. Needless to say, we have less than 3,000 US dollars per capita GDP, which is more than 20,000 in Europe, and more than 30,000 in the United States. Why should he still have friction with us? Why do you want to stop the Chinese enterprises and products? To protect his employment, in fact, American textiles have no meaning in his GDP, but his parliamentarians can propose to protect China's trade. And the president can accept it because of the protection of employment. China has a long way to go from the per capita GDP of 20,000 US dollars per capita GDP. Therefore, our people's livelihood is the study of the textile revitalization plan. It should be said that the most important performance in the pillar is the people's livelihood.
D: Regarding the arrangement of these policy measures, the difference from the past is that in the past, we may emphasize more and more supportive and strong, so it is called the group to warm up and share the crisis. Well, that is to say, this, we have to be scrupulous, especially when we wrote on the title board, the textile industry is an important pillar industry of the civilian production industry and tradition, then it involves employment workers in the textile industry, but also These important issues to the peasants and the countryside, so this policy should be said, not only emphasizes this kind of support for advantages and strong enterprises, but also considers the construction of public service platforms, brand building and technological innovation.
Page 9 1011 F: I saw that the Prime Minister’s policy was introduced. I am very happy. Can we put real practice and R&D practice into our private enterprises, so that we can represent the private enterprises and the national industry.
Du Yuzhou: Private enterprises in our industry don't have to worry, our policy should be mainly for private enterprises, because China's textile industry has so far, national capital accounts for more than 4% of our scale, so this private Enterprises, state-owned enterprises, and collective enterprises are the key points of our support. The problem is to change the method. It is not to choose a few companies to do for you, but to pay attention to the key technologies of an industry and have coverage. Then, if you are good at promoting, you should be popular and let everyone benefit. Now it means that our private enterprises can't pin their hopes on the country to take money to support your technological transformation, but to go, at the foot of their own feet. In fact, Kaigong is doing very well. He has no country to give him any projects. The project, but he did a very good job, the foreign country began to engage in a lawsuit with him, saying that you copied my patent, and the result was a lawsuit for a year and a total victory.
Moderator: Winning.
Du Yuzhou: Winning, winning, and his own technology. We have many examples of this now.
D: In the long run, this plan is simply a three-character “tuning mechanism”. Product structure adjustment is to create a brand and improve quality. The second industrial restructuring, here mainly talked about some of the high-tech fibers, such as the development of industrial textiles, this time actually mentioned in the planning, the ratio of our industrial textiles is important from 15 % increased to 19%, then this 19% has increased by four percentage points, but from its application field, it has far exceeded the traditional textile and household textiles. Then, there are many, such as military, construction, road construction, and many other areas. The third structural adjustment is the adjustment of the regional structure, which is the coordinated development of the western Middle East. The fourth is actually an adjustment of the organizational structure. At present, the competition in the textile industry is no longer the past, the competition between enterprises and enterprises, but a competition in the entire industry chain. That is to say, the previous research and development, to the final product marketing, we may actually focus on supporting and emphasizing the intermediate processing links, processing stages, and such technological advances in various processes, so it should be extended now. These aspects. These four structural adjustments should be said that in order to ensure the completion of these tasks, the state has a series of measures, including our private enterprises, the support of these policies, so in this respect, I can say, we should say, we can rest assured of.
Moderator: In fact, everyone's attention to the textile and apparel industry is not limited to our site. Many netizens have also raised some issues that they are very interested in. For example, the first question, the focus is on international competitiveness. He mentioned that the cost of our textile industry employees is twice or three times that of Vietnam, and the price of cotton is 31% higher than that of Vietnam. Advantages, where does our international competitiveness come from?
Page 910 11 Qiu Yafu: The competition of textile enterprises is basically innovative competition, not price competition. If our Chinese textile and garment enterprises put their own eyes in today's harsh winter, no matter whether it is a good enterprise, a business, or only labor cost competition, I think we have no way out. Only in the so-called "smile curve", a well-known economic law, then we are now at the low end of manufacturing, due to the increase in various costs, the manufacturing profits are compressed to a very small extent. So now there are only two ways and one way. Chinese textile enterprises are going to upgrade to the two ends of small enterprises under such a harsh winter, and then they account for 80% of us, in the design field, service field, market, network, The added value, we have to split up and increase our added value. This is also the use of this revitalization plan, a large number of small enterprises, through the injection of some technology, so that our costs, other costs outside the labor force are further reduced, so that the average price of our final product is still enough with Vietnam. Such a price competition, I think these two ones catch one, one on the other, China's textile future is still possible, not only revitalization, but also take off.
Moderator: The second netizen has a very interesting name called ModingChina. In many people's eyes, ModingChina may mean low prices and low grades. In fact, this is not what we are willing to see. At present, we are adjusting and revitalizing the textile industry. After the introduction of the plan, we will give China a new meaning.
Qiu Yafu: The first one, I thought it would still be cheap. The second one should be high-end luxury.
Moderator: But is there a contradiction between your two goals?
Qiu Yafu: That is, some enterprises divide their work and go up; some enterprises develop horizontally. I think that such a world market will not be a 40% problem. I think 60% of us may be China.
Moderator: That is, you have occupied the high school and the low end, it must be close to 100%.
Qiu Yafu: Yes, that's it.
Moderator: Is our revitalization plan available to us to realize such a wish as soon as possible? What kind of goals will it bring to the development of the whole industry? We will hand over the time to President Du and come to the scene to continue to post to us. Come, everyone is applauding.
Du Yuzhou: The financial impact of China's textile industry is also an important opportunity for us to accelerate the upgrade. This promotion of our upgrade will produce such a result in the international arena. First, there are more people in the world, because of enjoying Chinese textiles and clothing. This kind of consumption brings happiness. Second, such a market meeting is not to reduce the profit space for the Chinese textile industry, but to increase the profit space. The source of this is that we not only produce a product, but create a product, not only to create a product, but also to form A controlled supply chain. In this way, we gradually change the current profit in the supply chain. We account for 20% and can change to 50% or 60% until 80%. This day is not far off.
Moderator: Thank you, Mr. Du, for sharing the goals of future development. I think the adjustment and revitalization plan for the top ten industries is a new start for the top ten industries. Then we can ask the two of the scene to predict, if you want to implement the textile industry in the first few places after the implementation of the program for three years?
Du Yuzhou: From the first place in quantity to the forefront of quality and brand, quality.

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