China magnate-Jiangsu Huafang group with its 500000 ingot cotton & textile base settle down formally in Hezi city, Xinjiang province, March23.
The chairman of Jiangsu Huafang group said that Huafang Xinjiang Cotton & textile base with the total RMB25 billion investment will adopt high-class spinning equipment at home and abroad to produce top-grade carding knitting yarn collection by processing Xinjiang high quality cotton flannel, color cotton, organic cotton; First period project with 5billion investment and 170000 Mu scale have been set off. The cotton base which will be put into production in 2008 will have annual production capacity of 75000 ton high-class cotton yarn and annual sale of RMB20billion .
As China biggest cotton planting area, Xinjiang have cotton planting area of 17470000Mu, cotton output 1890000ton, accounting for 30% of total cotton output. The statistic of Xinjiang municipality textile industry management office show that Xinjiang cotton & textile output account for 5.4% in China during "tenth five years plan", being ranked in the ninth in China. So Xinjiang cotton & textile market has great exploiture potential.
During these years, Zhejiang xiongfeng group, Shandong Lutai Co.,Ltd, Zhejiang Jingying group, Hong Kong Yida Co. establish textile industry garden in Xinjiang Urumchi-Changji, Shihezi-Kuitun, Akesu-Alaer, Kashi etc, it can be anticipated that the scale of Xinjiang cotton & textile will reach 7million Mu, annual sale RMB220billion.
