The business enterprise R&D expenditure in China for the manufacture of textiles, wearing apparel, leather, and related products is expected to grow from 46.09 billion Yuan Renminbi in 2024 to 47.75 billion by 2028. In 2023, this expenditure stood at approximately 45.68 billion. Year-on-year growth rates are modest, roughly 0.9% annually, with a five-year CAGR around 0.9%, indicating a steady increase without abrupt variations.
Future trends to watch for include:
- Advancements in sustainable textile technologies driven by increased environmental regulations.
- Integration of digital processes and automation in textile manufacturing.
- Global competition and evolving consumer preferences influencing R&D investment directions.
