On May 21st,the Forum on High-Quality Development of China's Textile Industry Under the New U.S.Tariff Policy,themed"Breaking Through New Tariff Challenges,Empowering New Forms of Textile Industry",was successfully held at Wuhan Textile University.Hosted by Hubei Modern Textile Industry Economic Research Center and organized by the School of Economics and the International Affairs Office of Wuhan Textile University,this forum aimed to jointly explore the response strategies and development paths of China's textile industry under the new U.S.tariff policy,and provide support for the high-quality development of the textile industry.
Attendees of the forum included Feng Jun,Member of the Standing Committee of the Party Committee and Vice President of Wuhan Textile University;Qian Xuefeng,Director of the Academic Affairs Department of Zhongnan University of Economics and Law;Zhang Qian,Section Chief of the Industry Department of China National Textile and Apparel Council;Tijjani Abdullahi Dankumbo,Special Advisor to the Ministry of National Defense of Nigeria;Digomo Mpotsa Hunadi and Khanyisile Magagula,Officials of the Department of Higher Education and Training of South Africa;Chen Yizhong,Chairman of Yantai Mingyuan Creative Life Technology Co.,Ltd.;Liu Wanli,General Manager of Hubei Wanli Protective Products Co.,Ltd.;student representatives from the Department of Higher Education and Training of South Africa,as well as faculty and student representatives of the school.The opening ceremony of the forum was presided over by Professor Duan Dingqiang,Dean of the School of Economics.
In his opening speech,Feng Jun stated that as a crucial pillar of the national economy,China's textile industry occupies a key position globally relying on its sound industrial system and strong manufacturing capabilities.In recent years,U.S.tariff policies have brought enormous challenges to China's textile industry,leading to a decline in the competitiveness of products and some enterprises falling into difficulties.However,crises also serve as opportunities for transformation.Chinese textile enterprises can increase investment in innovation,promote intelligent transformation,focus on developing new productive forces,enhance the added value of products,and actively expand brand building and market development.Feng Jun emphasized that as an industry-specific university,Wuhan Textile University will give full play to its professional advantages and gather wisdom and strength for the textile industry to break through difficulties and achieve high-quality development.
After the opening ceremony,the keynote report session of the forum officially kicked off,which was presided over by Professor Wang Bin,Vice Dean of the School of Economics.Invited experts and scholars delivered speeches in sequence.
With the theme of"Understanding Trump's New Tariff Policy",Qian Xuefeng conducted an in-depth analysis of the essence,causes and extensive impacts of Trump's new tariff policy.He pointed out that for China,Trump's new tariff policy is not merely a predicament,but a complex situation intertwined with both challenges and opportunities.Chinese textile enterprises need to adopt a calm and composed attitude in response,actively promote the all-round upgrading of industrial technology,processes and supply chains,and at the same time,accelerate the strategic layout in emerging markets such as Southeast Asia and the Middle East,and strengthen economic and trade cooperation with mature markets like Europe.Through these efforts,they can expand market share and build a diversified international market pattern.
With the theme of"High-Quality Development of China's Textile Industry Under the Background of U.S.Tariff Hikes",Zhang Qian shared insights from multiple perspectives,including the global textile supply chain pattern,the development experience of China's textile industry,the impact of U.S.tariff hikes,and the countermeasures for China's high-quality development.In the face of challenges,Zhang Qian proposed two key measures for China's textile industry:Firstly,take market demand as the target,deeply tap the diverse domestic consumer demands,and leverage digital means to promote the coordinated development of technology,fashion,green development and health-oriented development.Secondly,take innovation as the driving engine,promote the application of cutting-edge technologies such as bio-manufacturing,3D printing and intelligent manufacturing,accelerate the expansion of products from focusing on quantity to improving quality,enhancing functions and expanding application fields,and boost production efficiency.She emphasized that in the future,the development direction of China's textile industry will focus on technology-driven industries supported by innovation,fashion industries guided by culture,green industries oriented by responsibility,and health industries centered on people.
With the theme of"Overview of Nigeria's Economy",Tijjani Abdullahi Dankumbo gave a detailed introduction to Nigeria from four aspects:population,culture,economy and business environment.She pointed out that Nigeria,known as the"Giant of Africa",is a federal republic located in West Africa.Its large and young population structure provides abundant labor resources for economic development.Meanwhile,Nigeria's economy presents a diversified development trend,with the service industry being the main driver of growth,and industries such as entertainment and finance booming.To promote the sustainable development of the economy,the Nigerian government has introduced a series of investor-friendly policies,including tax incentives for key industries such as agriculture and foreign exchange reforms,to enhance its market influence.
Hauwa Poloma-Obadan focused on elaborating on the cooperation between Nigeria and China.He stated that as an important trading partner and major source of foreign investment for Nigeria,China plays a key role in bilateral relations and has made continuous efforts in multiple aspects of Nigeria's politics,trade,investment and infrastructure construction.In the future,Nigeria looks forward to further strengthening cooperation with China,enhancing people-to-people bonds,jointly building a new prospect of prosperous development,and pushing the bilateral relations to a higher level.
With the theme of"Breaking Through the Dilemma for Textile Enterprises Under the New U.S.Tariff Policy–Global Supply Chain Reconstruction and In-depth Cultivation of the Domestic Demand Market",Chen Yizhong put forward the following strategies in response to the challenges faced by enterprises in the current international trade environment:
Strengthen the construction of the Southeast Asian production capacity matrix.Rely on the"Chinese fabrics+overseas post-processing"model to enhance supply chain flexibility and reasonably avoid tariff risks.
Increase efforts in developing non-U.S.markets.Expand into markets in South America,the Middle East,South Africa and other regions,and accurately launch marketable products through in-depth research.
Promote the R&D of differentiated products and technologies.Focus on environmentally friendly fibers,functional fabrics and intelligent production technologies,and increase investment in R&D and innovation practices.
Conduct in-depth research on U.S.rules of origin.Flexibly adjust production layouts to ensure products comply with relevant U.S.regulations and avoid trade disruptions.
Chen Yizhong stated that in the future,the textile industry will continue to adhere to the diversified market layout,overcome key bottlenecks through technological innovation,deeply tap the potential of China's huge domestic market,strengthen the construction of local cultural brands,and strive to occupy a leading position in the international market.
Associate Professor Shi Xiaoxia from the School of Economics delivered a speech themed"Where Do We Go After the China-U.S.Trade War",systematically analyzing the current China-U.S.tariff policies and their impacts.She pointed out that,on the one hand,the Chinese government is accelerating the implementation of a 2-trillion-yuan stimulus package,aiming to boost consumption growth and ease downward economic pressure.On the other hand,China is actively promoting economic transformation,gradually shifting from the traditional export-oriented economy to a consumption-driven economy led by domestic demand,and steadily advancing the"China 2030 Market"plan.
In addition,she discussed the impact of RMB exchange rate fluctuations on export competitiveness.She noted that a moderate depreciation of the RMB can alleviate the cost pressure brought by tariffs to a certain extent,but its effect is limited and there is a potential risk of triggering trade retaliation.
Roundtable Forum:Government and Enterprise Responses Under the New U.S.Tariff Policy
After the keynote speeches,Dr.Dong Minyi from the School of Economics hosted a roundtable forum titled"Government and Enterprise Responses Under the New U.S.Tariff Policy".The guests of the roundtable forum included Digomo Mpotsa Hunadi(Planning Official of the Department of Higher Education and Training of South Africa),Khanyisile Magagula(Governance Official of the Department of Higher Education and Training of South Africa),Chen Yizhong(Chairman of Yantai Mingyuan Creative Life Technology Co.,Ltd.),and Liu Wanli(General Manager of Hubei Wanli Protective Products Co.,Ltd.).They had a lively discussion with the student representatives from the Department of Higher Education and Training of South Africa,international students and postgraduates of the School of Economics present at the forum.
The successful holding of this forum not only helps experts and scholars stimulate ideological exchanges,promote the transformation of academic achievements and the integration of industry,university and research,but also provides strong guidance for China's textile industry to cope with external challenges and explore paths for high-quality development.The School of Economics will continue to host academic forums to inject new vitality into the development of related disciplines and contribute to further enhancing the university's academic level and influence.
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