November starts with a wave of enthusiastic study and perusal of the 4th Plenum of the 19th Communist Party of China （CPC） Central Committee that was convened on Oct. 28th - 31st， ending with a reaffirmed proclamation that China upholds and improves the socialism with Chinese characteristics to advance the modernization of Chinas system and capacity for governance.

A communique that was issued to the public after the plenary session makes it clear that China must uphold and improve the basic economic system that characterizes the public ownership as the main feature while keeping the economic ownership jointly running in diversity， meaning that the other modes of ownership runs concurrently to prosper. This is not only a political determination， but also a well proven fact that has been working all right for the country as a whole， which has a difference when it comes to the industry-specific sector of the integral economy.

Textile industry is a labor-intensive sector that took on the road of market-driven economy long time ago， still featuring the socialism with Chinese characteristics in spite of the fact that the number of nongovernment owned enterprises holds an awesome lion share， more than 96 percent of the total， and private ownership of the apparel sector takes up even larger share of the total clothing company numbers. Speaking of the textile machinery manufacturers， the family businesses are thriving and have been doing pretty well in almost all the spectrum of machinery lines catering to the clients in man-made fiber lines ，yarn spinning and weaving， dyeing-printing and finishing， knitting， embroidery， sewing sectors， just to name a few， while the state-owned manufacturers are still very active in textile machinery building， forming a healthy emulation with the family-owned private businesses in the market. This Autumns textile machinery trade show in Shanghai， or any other business rendezvous in China， is a proven argument that China upholds its own road that leads to an aspiration for the dreamland in the middle of this century by modernizing its governance system and capacity in all walks of life， including textile industry as a whole， and the textile machinery sector as a technological support in the industrys toolkit for a highly-efficient governance.

The communique highly reaffirms Chinas continuing to uphold the opened economic system through making great efforts to improve the countrys governance capacity to provide more business-convenient environment for domestic and multi-national companies to operate efficiently and successfully， beneficial for both domestic consumption， import and export. An opened economic system paves way not only for export business， but also for import business， the latter has made much headway in our textile industry， in addition to many other sectors of the economy. The first quarter of this year witnessed a business growth by 14.57 percent in Chinas textile machinery sector， an open-door hit when the business started to resume after the long holiday for the Spring Festival in China， according to China Textile Machinery Association （CTMA）. And to our dismay， this optimistic momentum did not sustain as we see a cascading loss of growth speed since April after an encouraging high in March， all the way down to June in a continuous three-month downslide respectively by 26.28%， 5.48% and 4.4 % in the first half of the year. The sunny side of the picture is that the import of man-made fiber machinery chalked up by 17.96 percent and weaving machines by 24.95 percent， signaling an investment impetus to the rising demand in the Chinese textile industry that runs in a pretty good shape against all the challenges.

In our nations great aspiration， we trust. In our industrial expectation， we stand steadfast.

ZHAO Hong Editor-in-Chief

November， 2019