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German machinery and equipment manufacturing industry is optimistic about the Chinese market
In the first quarter of this year, the export of German textile machinery to China maintained the level of the same period last year. In a difficult market, the situation is satisfactory compared to the declining export trends of other major European textile machinery exporters. The energy crisis will continue in the next two or three years, so the efficient use of energy has become a challenge faced by all links in the textile industry chain. The more energy prices are rising and the more stringent environmental protection requirements are, the more German textile machinery can show its innovative advantages in terms of energy saving and environmental protection. Currently, Asia is the main export market for the German textile machinery industry. In 2007, Germany's textile machinery exports to Asia amounted to 1.85 billion euros, accounting for more than half of Germany's total exports of textile machinery, of which exports to China alone amounted to 1 billion euros. The machinery sector with the greatest demand in China is knitting and hosiery machinery (€521 million), followed by spinning machinery (€379 million), followed by finishing machinery including washing, bleaching, dyeing technology (€72 million) and Weaving machinery (€32 million). After China, Germany's main trading partners are Turkey and India, with annual imports of 408 million euros and 301 million euros, respectively. This year's global rise in energy prices and rising raw material costs have made textile manufacturers generally face huge production and operation pressures. Difficulty in capital turnover may make them slow down the purchase and renewal of equipment. Nonetheless, we remain bullish on the Chinese market.