Recently, the Ministry of Industry and Information Technology and the National Development and Reform Commission have enacted and issued the Guiding Opinions for Development of the Industrial Textiles Industry in the 13th Five-Year Period (the "Opinions").
The Opinions set out that the industrial added value of enterprises above designated size will grow at an average rate of around 9% every year from 2016 to 2020; the total amount of fibers processed in the whole industry will undergo an average annual growth rate of approximately 8%; and the labor productivity will increase by over 8% annually on average. In particular, main technologies applied for textiles used for environmental protection, geotextiles and building and construction textiles will reach the world advanced level. To this end, the Opinions ascertain five major tasks, such as "enhancing the innovation-driven level and improving the innovation mechanism", as well as six key orientations, including "textiles made for strategically new materials industry". Additionally, the Opinions propose the need of supporting enterprises to make full use of the capital market for listing and financing purposes, advancing mergers and acquisitions among enterprises, guiding the restructuring of corporate businesses, revitalizing their stock assets and optimizing the structure of their debts. Moreover, the Opinions make it clear that efforts will be made to give larger support in fiscal, tax and financial policies, coordinatively utilize the supporting channels of existing capital, and support the technological innovation and progress of industrial textiles.