From January to June 2024, the economic operation of China's textile industry remained stable with progress

Since 2024, China's textile industry has fully implemented the decisions and deployments of the Central Committee of the Communist Party of China and the State Council, adhered to the principles of seeking progress while maintaining stability, promoting stability through progress, and establishing before breaking through, continuously deepened transformation and upgrading, accelerated the construction of a modern industrial system, and made efforts to overcome the difficulties and challenges brought about by the increasing complexity and uncertainty of the external environment and the continuous deepening of domestic structural adjustment. With the gradual recovery of domestic and international market demand and the effective support of national macro policies, the overall economic performance of the textile industry from January to June remained stable, and major economic indicators improved significantly compared to the same period last year. Looking ahead to the whole year, the development situation faced by the textile industry remains complex and severe. The industry still needs to continue to promote high-quality development, actively respond to * * * tests, and strive to achieve economic recovery and improvement.

The domestic demand market is growing steadily, and the export situation is better than expected

Since this year, China's residents' income and consumption confidence have gradually stabilized. Consumer hot spots such as "Big Health" and "China-Chic" have remained active. The effect of the national consumption promotion policy has been positive, driving the domestic sales of textiles and clothing to continue to grow steadily. According to data from the National Bureau of Statistics, the per capita clothing consumption expenditure of Chinese residents in the first half of this year increased by 8.1% year-on-year, with a growth rate 2.7 percentage points higher than the same period last year; From January to June, the retail sales of clothing, shoes, hats, and needle textiles above designated size in China increased by 1.3% year-on-year. New formats and models such as live streaming sales and social e-commerce have injected vitality into the stable growth of textile and clothing online retail channels. From January to June, the retail sales of online clothing products in China increased by 7% year-on-year.

　　Driven by factors such as stable growth in demand in some overseas markets and a small amount of inventory replenishment by international brand merchants, the overall export situation of China's textile and clothing is better than expected, and the competitiveness of the textile industry chain continues to be released. According to Chinese customs data, the total export value of textiles and clothing in China from January to June was 143.18 billion US dollars, a year-on-year increase of 1.5%. Among them, the export value of textiles was 69.35 billion US dollars, a year-on-year increase of 3.3%; The export value of clothing was 73.83 billion US dollars, unchanged from the same period last year. China's overall textile and clothing exports to major markets continue to recover, with positive growth in exports to major trading partners such as the United States, the United Kingdom, Vietnam, Bangladesh, and Kazakhstan from January to June.

The overall production situation is stable, and the efficiency level continues to improve

Since the beginning of this year, supported by factors such as the orderly and stable operation of the supply chain and the recovery of domestic and international market demand, the overall production situation of the textile industry has remained stable. According to data from the National Bureau of Statistics, the capacity utilization rates of China's large-scale textile and chemical fiber industries from January to June were 78.6% and 85.3%, respectively, an increase of 2.4 and 2.1 percentage points compared to the same period last year. During the same period, the industrial added value of enterprises above designated size in the textile industry increased by 4.6% year-on-year, with a growth rate that rebounded by 7.6 percentage points compared to the same period last year. The industrial added value of industries such as chemical fiber, wool textile, and filament weaving achieved double-digit growth year-on-year. Among the 15 major categories of textile products counted by the National Bureau of Statistics, 13 categories of products including synthetic fibers, fabrics, printed and dyed fabrics, and non-woven fabrics achieved positive year-on-year growth in production.

The efficiency level of textile enterprises continues to improve, and the operating income and total amount have achieved recovery growth. According to data from the National Bureau of Statistics, from January to June, the operating income of 38000 textile enterprises above designated size in China increased by 6% year-on-year, and the total amount increased by 21.1% year-on-year, with growth rates rising by 11.1 and 42.4 percentage points respectively compared to the same period last year. The operating income of the entire textile industry chain is showing a positive growth trend, and the total amount of sub industries such as chemical fiber, wool textile, printing and dyeing, and industrial textiles has achieved rapid double-digit growth.

The operational quality has been improved, and investment has achieved good growth

Since the beginning of this year, the * * * capability and some operational indicators of textile enterprises have tended to improve. From January to June, the revenue rate of textile enterprises above designated size was 3.1%, an increase of 0.3 and 0.5 percentage points respectively compared to the same period last year and the first quarter of this year; The total asset turnover rate increased by 1.4% year-on-year, and the proportion of three expenses decreased from 6.8% in the same period last year to 6.5%. The turnover rate of finished products in enterprises has slightly decreased, and weak demand remains an important factor affecting the operation of enterprises.

The steady growth of demand and the restoration of production, sales, and efficiency of enterprises have gradually boosted confidence in the development of the textile industry, and investment has achieved stable growth. From January to June, the completed fixed assets investment in China's textile industry, clothing industry and chemical fiber industry (excluding farmers) increased by 14.3%, 14% and 6.4% year on year, respectively, and the growth rate rose by 16.3, 19.3 and 13.4 percentage points compared with the same period last year.

The foundation for improvement throughout the year still needs to be consolidated, and new quality and new strength are needed for high-quality development

Looking ahead to the whole year, there are still many unstable and uncertain factors facing the development of China's textile industry, and there are still many difficulties and challenges to achieve a stable recovery and improvement. The international political and economic environment is becoming increasingly complex, with weak global economic growth momentum, frequent geopolitical conflicts, international trade frictions, and other issues. The improvement of international market demand and the enhancement of international circulation quality are facing significant challenges. China's macroeconomy will continue to maintain a stable and positive trend, but it is still in a critical period of economic recovery and transformation and upgrading. Challenges such as insufficient effective demand and increased business pressure still need to be resolved.

In the complex and severe development environment, the super large scale and constantly upgrading domestic demand market will still be the fundamental driving force for the textile industry to cultivate endogenous momentum and achieve high-quality development. The demand for clothing consumption of Chinese residents will continue to release with the improvement of income. The improvement of spiritual and cultural demand will give functional, personalized and diversified space for the growth of textile and clothing consumption. The continued activity of China-Chic, Great Health and other consumption hotspots will also help the domestic demand market grow steadily. The textile industry in our country has a complete system, complete supporting facilities, and long-term advantages in collaborative efficiency. The resilience of the industrial chain and supply chain continues to strengthen, and it has a solid industrial foundation that fully meets domestic and foreign consumer demand and fully integrates into the international supply chain system. The digital, intelligent, high-end, and integrated transformation and upgrading of the industry are steadily advancing, providing innovative supply, activating market potential, and providing positive support for textile enterprises. In addition, the country strengthens policy coordination around expanding domestic demand, preventing * * *, and benefiting people's livelihoods, providing strong * * support for boosting industry development confidence, facilitating industrial circulation, and improving the business environment.