Government officials and business representatives launch this year's textile industrial indexes at a release conference held in Zhangjiagang on Nov 2. [Photo/zjgonline.com.cn]

A release conference for this year's textile industrial indexes was held in Zhangjiagang, East China's Jiangsu province, on Nov 2. More than 300 government officials, experts, and business representatives took part in the event.

In recent years, the local government has been working to enhance the competitiveness of the city's textile industry. The textile industrial index system was launched in 2018 to help promote industrial upgrading through big data.

The system includes indexes of current operating conditions, industrial trends, and prices of major textile products such as wool, yarn, and spandex.

At the conference, industrial experts discussed and analyzed this year’s figures and shared their views on how to promote the development of the local textile industry.

Textiles are one of Zhangjiagang’s pillar industries, and there are currently more than 3,100 textile companies operating in the city.

Those above the designated size – those with annual revenue of more than 20 million yuan ($2.86 million) – generate a total of over 60 billion yuan in output. This figure accounts for 13 percent of the total output value of all businesses in the city above the designated size.