The light and textiles industry has been Tianjin's traditional industry which in recent years has been restructuring with innovative technologies and by attracting investments, forming an industry cluster. Currently there are approximately 2,000 various light industry companies and more than 600 textiles companies in Tianjin. As the largest bicycle manufacturing and exporting base, Tianjin holds an annual bicycle production of 40 million, half of the nation's entire bicycle production. Also, Tianjin accounts for 90 percent of China's total carpet exports.