Driven by the textile industry, China's textile machinery manufacturing industry has achieved significant development. At present, China's textile machinery manufacturing industry has become a pillar industry with a complete range of products, meeting the needs of the textile industry, and having independent research and innovation capabilities.
China's textile machinery manufacturing industry has maintained a rapid development momentum in recent years. As of the end of 2010, the total assets of the industry reached 77,613 million yuan, an increase of 27.78% year-on-year; the industry achieved sales revenue of 81.565 billion yuan, an increase of 42.13% over the same period last year. Overall, after experiencing the decline in the industry's growth rate in 2008, the pace of industrial scale expansion has accelerated significantly and the overall development trend is good.