Tianjin Textile Group (Holding) Co., Ltd. has set five strategic tasks in its 12th Five-year Plan, which stress changing growth mode and improve core competitiveness of the industry.

The tasks center on promoting the development of textile industry with science and technology, fostering brands, changing growth mode, cultivating talents and relieving burden by solving problems left over by history.

Changing growth mode is an important task. It consists of six key words: R & D, brand, service, inviting investment, share participation and reallocation, which means, besides developing textile mainstay business, it will positively develop import and export trade, retail trade, basic raw material business, real estate, storage and logistics, financial service, creative industry and commercial hotels and construct a "3-4-2-1" structure, so as to reach the following goal: textile business and import & export trade cover 70% of the total revenue; basic raw material business, storage and logistics, retail sale and other businesses cover 30% of the total revenue, with profit accounting for more than 10% of the total revenue. By the end of the 12th Five-year Plan period (2011-2015), the local textile industry is expected to earn an annual revenue of CNY 100 billion, up 93% on the previous five-year period; import & export amount to US$ 7 billion, up 106% and double the profit in 2010.

Source: China Textile Leader