Recently, numerous textile enterprises from Zhejiang Ningbo, Shaoxin marched into Xinjiang and built factories alongside cotton field.
As China biggest cotton-planting base, Xinjiang's cotton output accounted for nearly 1/3 of total cotton output. It is estimated by Xinjiang Wenzhou Chamber of Commerce that Wenzhou traders have invested no less than RMB10billion to purchase cotton including nearly RMB3billion capital in Xinjiang Aksu District.
However, with tightening of Wezhou cotton trader capital chain, Xinjiang's cotton price was decreased from RMB18000/ton to less than 11000Yuan/ton from the beginning of last year.
Therefore, many Wenzhou traders made no profit, on the contrary, the traders opening simple cotton ginning in Xinjiang made big money through processing cotton to finished cotton product and selling it to Eastern-China .
Many inspired enterprises began to open factories in Xinjiang, so is Zhejiang enterprises. Younger group has signed rent contract for eight year with Xinjiang Xinmain Group. At present, it established Cotton Textile subsidiary . In the same time, Zhejiang Shouxin Xiongfeng Group invested RMB3.8billion to build 550000spindle cotton textile industrial park in Xinjiang and introduced 1000sets of updated spray weaving machine; Zhoushan Hongshen Group invested RMB1.1Yuan to build Asia biggest home textile base in Xinjiang.
