In the first half of the year, many economic indicators in the textile industry were bright and the signs of stabilization were obvious. This is mainly due to the structural reform of the supply side and the implementation of the “three products†strategy. It is a highlight of the textile industry in the first half of the year that exports have stabilized and rebounded. Although China's three major textile markets in the United States, Japan and Europe have continued to decline in recent years, they have performed well in the “Belt and Road†countries and regions, as well as in emerging markets in Africa. The income growth of Chinese residents has also supported the further improvement of textile and apparel consumption. ——
A few days ago, the China National Textile and Apparel Council analyzed the economic performance of the textile industry in the first half of this year and the industry situation throughout the year. Since the beginning of this year, under the internal and external environment with high comprehensive cost and high international competitive pressure, the textile industry still insists on accelerating transformation and upgrading and actively cultivating new development momentum of the industry. The data shows that in the first half of the year, the economic indicators of the textile industry were bright and the signs of stabilization were obvious. Sun Ruizhe, president of the China National Textile and Apparel Council, said that from January to June, the textile industry's profit increased by 11.6% year-on-year, much better than expected.
Resilience shows signs of good
"The macro economy is improving. With the structural reform of the supply side and the implementation of the 'three products' strategy, the textile industry in the first half of the year has been characterized by a stable and good quality and leading effect." Vice President of the China National Textile and Apparel Council, industrial economy Sun Huaibin, dean of the institute, said.
In the first half of the year, the main production indicators of the textile industry were flat. Statistics from the National Bureau of Statistics show that from January to June, the output of chemical fiber, yarn, cloth and clothing of enterprises above designated size increased by 4.8%, 5.1%, 4.5% and 1.9% respectively, maintaining a steady and small increase. From January to June, the industrial added value of the textile industry increased by 5.3% year-on-year, which was 0.4 percentage points higher than the growth rate of industrial added value in 2016.
The scale of investment continued to grow steadily. In the first half of the year, the completion of fixed assets investment projects of more than 5 million yuan in the textile industry was 613.01 billion yuan, a year-on-year increase of 9.1%. The growth rate was 2 percentage points higher than the same period of the previous year. It has gradually recovered since 2017.
“From the perspective of the region, the overall progress continued. From January to June, the completion of fixed asset investment in the eastern, central and western regions increased by 7.9%, 11% and 9.8% respectively, except for the growth rate of investment in the central region compared with the same period of the previous year. With an increase of 8.8 percentage points and a rise to a double-digit growth level, the growth rate of investment in the eastern and western regions slowed by 1.2 and 21.6 percentage points respectively compared with the same period of last year." Hua Shan, executive vice president of China Textile Research Institute of Industrial Economics, said With the expansion of the base, Xinjiang's investment from January to June increased by 49.3% year-on-year, and the growth rate dropped from the same period of the previous year, but the contribution to the western investment has reached 150%.
The quality of operation has stabilized and the main business income and total profit have grown rapidly, becoming the “leader†of the main operating indicators of the whole industry. From January to June, the textile enterprises above designated size achieved a revenue of 660.92 billion yuan, a year-on-year increase of 9.6%, and the growth rate was 5 percentage points higher than the same period of the previous year. The total profit reached 188.03 billion yuan, a year-on-year increase of 11.6%, and the growth rate was 5.3 percentage points higher than the same period of the previous year. The sales profit rate of textile enterprises above designated size was 5.1%, which was the same as the same period of the previous year.
Industry exports turned from negative to positive
The steady recovery of exports and the transformation from negative to positive are the highlights of the textile industry in the first half of the year. China Customs data shows that in the first half of the year, China's cumulative exports of textiles and clothing reached US$124.05 billion, up 2.2% year-on-year. It has ended a 22-month sustained negative growth since March. Among them, the export value of textile yarns, fabrics and products was US$53.12 billion, up 3.1% year-on-year; the export value of clothing and clothing accessories was US$70.93 billion, up 1.4% year-on-year.
"Overall, with the adjustment of industrial structure, the acceleration of transformation and upgrading, the concentration of China's textile and garment export enterprises has increased substantially, and the coordination of industrial exports has improved." Sun Huaibin said.
Specifically, from the main types of export enterprises, the total export value of private enterprises increased by 3.3% year-on-year, accounting for 67%, an increase of 1.8 percentage points over the same period of last year, and the endogenous power was stronger. From the perspective of market structure, the traditional markets of the United States, Japan and Europe are highly competitive. From January to May, China's share of the three major textile and apparel import markets in the United States, Japan and the European Union fell by 0.9, 1 and 0.5 percentage points respectively. In the same period, Vietnam's market share in the US, Japan and Europe increased by 0.8, 1 and 0.2 percentage points respectively. Bangladesh's market share in Europe increased by 0.4 percentage points year-on-year. Malaysia's market share in Japan and Europe increased.
“The textile industry in developed countries has accelerated its return and supply capacity has continued to increase. The emerging countries in Southeast Asia have accelerated the layout of the textile industry and have significant cost advantages. They have put forward higher requirements for China's textile industry to maintain stable exports.†Sun Huaibin said.
On the other hand, the “Belt and Road†countries and regions, as well as the emerging markets in Africa, flashed. In the first half of the year, the textile industry accumulated a total of 42.91 billion US dollars of textiles and clothing exports to the countries related to the “Belt and Roadâ€, accounting for 34.6% of China's total textile and apparel exports, an increase of 0.9 percentage points over the same period of the previous year. Among them, Vietnam’s textile and apparel exports amounted to 5.79 billion U.S. dollars, accounting for 13.5%, which is China’s largest market for textile and apparel exports to the “Belt and Road†countries. Exports to Russian textiles and apparels reached US$3.79 billion, accounting for 8.8%. Second only to Vietnam. From January to June, China's exports of textiles and clothing to Africa reached 9.42 billion US dollars, an increase of 4.1% year-on-year, accounting for 7.4% of China's total textile and apparel exports, and roughly equivalent to the export of textiles and clothing to Japan.
Sun Huaibin said that although China's three major textile markets in the United States, Japan and Europe have continued to decline in recent years, they have performed well in emerging markets, and China's main position in the world's textile and apparel exports is still stable.
Continue to consolidate and improve the foundation
From January to June, the retail sales of clothing, shoes, hats and needles above designated size increased by 7.3% year-on-year, 0.3 percentage points higher than the same period of the previous year. The growth rate of online retail sales has accelerated. The national retail sales of online wearing goods increased by 20.8% year-on-year, 3.9 percentage points higher than the same period of the previous year, 5.2 percentage points faster than the first quarter, achieving the highest growth rate since 2016.
“The macroeconomic performance in the first half of the year was good, and the rebound in demand led to the growth of income of Chinese residents, which supported the further improvement of textile and apparel consumption.†Sun Huaibin said.
In the first half of the year, the textile industry continued to develop in a stable and stable manner, laying a solid foundation for the completion of the full-year target. In the second half of the year, the global economic recovery is still continuing. China's economic rebalancing process is progressing steadily. Consumption, import and export, stable expansion of service industry and steady recovery of private investment will all drive the continuous improvement of consumer confidence and moderate growth in domestic and foreign market demand.
The textile industry will continue to adhere to the overall tone of steady progress. Under the guidance of supply-side structural reform and innovation-driven development strategy, we will closely focus on the key tasks of the textile industry's 13th Five-Year Plan and the strategic goal of building a textile power, and grasp and lead. The important characteristics of the upgrading of household consumption, the implementation of the "three products" strategy, accelerate the promotion of brand building, and constantly consolidate the foundation of a stable and stable.
"Strive to maintain a moderately stable cotton price, the industrial added value of the textile industry maintained a slight rebound in the year, the main business income and total profit increased steadily, and exports continued to show a stable and good trend, achieving the expected goal of full-year development." Sun Huaibin said .
Editor in charge: Xu Yuehua
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