One of the country's leading textile distribution centers, China Textile City (CTC) is now a key part of the economy in Keqiao, one of the most prosperous towns in Shaoxing county. It trades in textile products of all descriptions and is said to be on course to be the largest professional textile market in Asia - and possibly one of the world's leading trade centers.
After 20 years of continuous growth and development, it has established four distinctive textile trade platforms - a Traditional Trade Zone in the south, a central International Trade Zone, a Market Innovation Zone in the north and a Textile Raw Materials Trade Zone to the west.
CTC spans a market area of almost 3.26 million sq m, with more than 20,000 industrial units and 20,000 employees. Every day transactions are made here involving 30,000 different varieties of fabric, generating a daily customer flow in excess of 100,000 individuals.
There are nearly 3,500 overseas permanent purchasers and over 750 permanent overseas representative agencies based within its confines. Its goods are sold to 187 countries and regions. In all, a quarter of all the global chemical fabric transactions occur within the site.
Currently, it has on-going business relationships with almost 50 percent of the textile-related businesses in China. Its ubiquity within the sector has been rewarded with an annual turnover that now exceeds 60 billion yuan.
Established in 1988, CTC quickly became a leading textile professional market and was soon regarded as pivotal for the area's textile industry development, urban expansion and economic prosperity.
In 2006, the local government devised plans to accelerate the center's development. This initiative saw the CTC nurtured as the hub of a new "international textile capital and a modern commercial city". Key to this project were the provision of large scale manufacturing facilities, a low cost base, a high-level of commercial interaction and an excellent service base, as well as a number of new construction programs.
China Textile City has now developed substantially from its initial two trade zones back in 2005 - a traditional trade zone in the south and a textile raw materials trade zone in the west.
Now it features five distinctive trade divisions in the south, north, west, east and central parts of the region. The total floor space of its markets has increased from a launch figure of 1.1 million sq m to the current 3.26 million sq m.
The market has benefited from substantial refinements to its business model. Its core businesses have developed beyond raw materials and fabrics and into chemical manufacture, provision of machinery and the delivery of a number of finished products, including garments, accessories and home textile items.
It has evolved from focusing solely on chemical fabrics to dealing in all manner of textiles, notably artificial fibers, wool, cotton, hemp, silk, knitwear, leisure and blended textile fabrics, as well as completed items for the clothing and home textile markets. It also now deals in accessories and industrial textiles. It has stealthily become first wholesale market to work across the whole textile spectrum
During this time, it has witnessed a dramatic increase in the number of its on-site business operators. Its number of registered businesses has risen from 7,900 in 2005 to the current level of 19,085.
The number of limited companies based at the site has shown a particularly startling growth, moving from 860 to 3,470. The level of permanent overseas representative has grown as well.
Similarly, the number of foreign-backed business has also increased, growing from a base of two in 2005 to 50, as of this year.
Market turnover has been growing concurrently. It has swelled from 44.94 billion yuan in 2005 to 63.45 billion yuan in 2008. Its number of online registered users has also gone through the roof, increasing from 3,500 at the end of 2005 to over 9,300 at present.
The market has also developed substantial influence within the sector. The Keqiao Textile Expo is officially designated as a State-level textile exhibition, approved by the State Council. The Keqiao Textile Index of China has the authoritative endorsement of the Ministry of Commerce.
As a result of the CTC's growing significance, the China Textile Information Center has now opened a branch in Keqiao.
China Texitle News and Ta Weekly have also established offices in Keqiao. As recognition of its emerging role within the country's textile sector, both the Fabrics China Creation Competition and the China Career Fashion Designer Creative Contest have now been staged in Keqiao.
China Textile City is now a vital nexus for businesses in the textiles sector, many of whom make regular use of its dedicated professional sections, including its fabric market, raw materials market, clothing market, home textiles market, chemical market and creative market.
