Australian Wool Innovation (AWI), the owner of The Woolmark Company, has supported an Australian Government function, hosted by the Hon Andrew Robb, Trade and Investment Minister, to help further strengthen ties between the Australian and Chinese wool industries.
China is the major market for Australian wool, with more than 75 per cent of the Australian wool clip exported to China for processing. Traditionally, the vast majority of this wool was processed and re-exported. But today, with Chinese consumers and textile companies becoming increasingly aware of the fibre’s natural inherent benefits, around a third of this wool stays within the Chinese market.
China presents the most dynamic opportunity for the Australian wool industry. Consumer research shows definite potential to increase wool consumption among more than 20 million consumers at the high end of the market in key cities, and a once-in-a-lifetime opportunity to embed demand for wool apparel in the rapidly emerging middle class in China.
«The China Wool Textile Association has consistently worked with The Woolmark Company to support Chinese woollen textile companies. Together, these two companies have made significant contributions by assisting with product development, technology and product quality improvement», the new President of the China Wool Textile Association (CWTA), Madame Huang, said.