Due to the technology development and market demand, the PET industry has been developed very quickly in China, Asia and the whole world in the last twenty years. The focus of the PET industry has been moving to Asia and the Asia´s PET industry has been brought to a new stage. The technical development, market, production capacity and output of PET and polyester fibres industry at home and abroad are analyzed and forecasted to find out the gap between China and the developed countries in this field. The stress is placed on the development and research of the domestic PET engineering technology and the proven experiences. Some proposals are put forward.