Textiles, the largest industry nationwide, is the traditional pillar industry and the most export-oriented industry in Jiangsu province.
The total main business income of industrial enterprises above a designated scale in 2017 was 1.39 trillion yuan ($201.46 billion) and the textile industry's total profit reached 80.67 billion yuan. Annual export volume totaled $48.97 billion.
From January to February 2018, Jiangsu exported 49.45 billion yuan worth of textiles and garments, a year-on-year increase of 19.8 percent, which was 4.8 percent higher than Jiangsu's export growth rate over the same period. It also accounted for 12.7 percent of the province's total export value.
Xie Ming, president of Jiangsu Textile Industry Association, said that the province was striving to build an advanced manufacturing base for the textile and garment industry with international competitiveness by focusing on high-quality development and promoting the upgrading and intelligent transformation of the traditional textile industry.
"Jiangsu's textile industry is seeking to upgrade itself, and so does Yalu," said the head of Jiangsu Yalu Holding Co Ltd. Yalu's sales in 2017 were 10 times that of 2015 due to its upgrading.