Chinese textile firms look to thrive in new hot spot

Vietnam is becoming a "hot spot" for Chinese textile manufacturers when they look to build factories overseas.

One of the main reasons is that apparel produced in the Southeast Asian country for the United States market will be tariff-free after last month's Trans-Pacific Partnership agreement.

Huafang Co, a textile business in Shandong province, plans to set up a high-end fabric factory in Vietnam with a 700 million yuan ($110 million) investment. This will be the company's first overseas factory.