Abstract
China has demonstrated during the last thirty years the highest and the most stable GDP growth rate. It has helped the country become the biggest world exporter and significantly increase the social standard of living. However, the growth potential within the boundaries of engineering capability existing before has its limits and during the next 10-15 years the country will not be able to demonstrate the two-digit growth rate again. The same as the other industrially developed countries China has outlined the national prospects in the sphere of wide use of digital technologies. In this respect the development of textile sector of economics with more than 11 mln. people engaged is of a considerable interest. The article gives analysis to the new trends in industry development and offers new organizational models. It has been shown that in case of implementation of innovative development scenario and wide use of digital technologies the average annual growth rates in the period of 2018-2025 will be by 0.8 – 1.0 percentage points higher than in 2015-2016.
Highlights
China has gone through three stages of development in the light industry sector by this time [1]
The high average annual growth rate of the industry of 14% has been characteristic for the second stage, which ensured the domination of China in the world market of textile by 2000
Two trends of macroeconomical nature have been characteristic for the third stage; they have taken the attractiveness and competitiveness of the sector down: the average annual growth rate of the salary amounted to 8.21% against the background of decreasing volumes of foreign investments into Chinese industry from 1.9 bln. dollars to 1.6 bln. dollars [1]
Summary
– sharp reduction of the share of sector in the added value and export of industry; – cycle between production and end user extended in time (it makes ten weeks instead of two weeks); – beginning of wide structural reforms in Chinese industry with the launched transition from textile production to the production of goods of industrial application and durable goods, hi-tech produce and development of real estate sector In this respect the incorporation of innovations, for instance, based on digital technologies becomes especially relevant: automated systems of developing new models of clothes (CAD), automated systems of manufacture (CAM), systems of planning results at enterprise (ERP)
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