Since 2022, unexpected factors such as international geopolitical conflicts and frequent domestic epidemics have been intertwined, and the development environment faced by my country’s textile industry has become more complex and severe. Affected by the epidemic, in April, the production and operation of the textile industry and the operation of the supply chain were greatly affected, and the economic operation was obviously under pressure. Since May, as the domestic epidemic prevention and control situation has gradually stabilized, production and logistics have accelerated to return to normal, and the resumption of business and market has steadily advanced. Supported by a series of national “stabilizing growth” policies and measures, the main operating indicators of the textile industry have recovered under pressure. , demonstrating strong development resilience and ability to resist risks. Looking forward to the whole year, the development situation faced by the textile industry is complex, and the pressure on the production and operation of textile enterprises is relatively prominent. The industry still faces challenges in achieving smooth operation throughout the year.
01 The industry boom is in the contraction range and production growth has slowed down.
Since the second quarter, affected by factors such as the resurgence of the domestic epidemic and the more complex international political and economic environment, the textile industry has faced risk challenges such as phased shutdowns and production shutdowns in some areas, poor logistics operations, and high raw material prices. The production and operation conditions have fluctuated. . Against the background of weakening domestic and foreign market demand, the industry’s prosperity has entered a contraction range. However, as the epidemic prevention and control situation has gradually stabilized, corporate production and sales have gradually recovered, and the industry’s overall prosperity has rebounded slightly compared with the first quarter. According to a survey by the China Textile and Apparel Industry Federation, the textile industry prosperity index in the second quarter of 2022 was 46.3, an increase of 3.7 percentage points from the first quarter of this year.
The capacity utilization rate of the textile industry has declined and production growth has slowed down. According to data from the National Bureau of Statistics, in the first half of the year, the capacity utilization rates of the textile industry and chemical fiber industry were 78% and 84% respectively, down 1.7 and 2.1 percentage points respectively from the same period last year, but still higher than the 75.4% capacity utilization level of the national industry in the same period. . In the first half of the year, the industrial added value of enterprises above designated size in the textile industry increased by 0.9% year-on-year, and the growth rate slowed down by 8.7 and 4 percentage points respectively compared with the same period last year and the first quarter of this year; production in most links of the industrial chain achieved positive growth, with the chemical fiber industry and the clothing industry Industrial added value increased by 0.6% and 4.4% year-on-year respectively.
02 The domestic market gradually resumes exports and achieves stable growth
Since the beginning of this year, affected by the frequent outbreaks of epidemics, the performance of domestic sales of textiles and clothing in my country has fluctuated, and the growth rate once showed a trend of slowing down month by month. Since May, as the domestic epidemic has been effectively controlled, the national “consumption promotion” policy has taken effect, and domestic consumption has gradually recovered. According to data from the National Bureau of Statistics, in the first half of the year, retail sales of clothing, shoes, hats, and knitted textiles by units above designated size nationwide decreased by 6.5% year-on-year, but the decline was 1.6 percentage points narrower than that from January to May this year. The growth of online retail channels has been relatively stable. In the first half of the year, national online retail sales of clothing products increased by 2.4% year-on-year, 1.5 percentage points higher than the first quarter of this year, reversing the negative growth trend since April.
my country’s textile and apparel exports have generally achieved steady growth. China Customs data shows that in the first half of the year, my country’s textile and apparel exports totaled US$156.49 billion, a year-on-year increase of 11.7%. Supported by rising export prices, the export value hit the highest level in the same period in history. Among the export products, the export value of textiles was US$76.32 billion, a year-on-year increase of 11.3%; the export value of clothing was US$80.17 billion, a year-on-year increase of 12%. In the export market, the textile supply chain in Southeast Asia and other countries has basically returned to normal operation this year, driving my country’s exports of yarn, fabric and other industrial chain supporting products to achieve good growth. In the first half of the year, my country exported a total of US$27.71 billion in textiles and clothing to ASEAN, a year-on-year increase 23.3%, of which the growth rates of yarn and fabric exports reached 29.9% and 24.6% respectively; my country’s exports to the “Regional Comprehensive Economic Partnership Agreement” (RCEP) member states reached 45.57 billion US dollars, a year-on-year increase of 13.7%, indicating that RCEP has taken effect. It is conducive to the stability and improvement of the export environment.
03 Corporate performance continues to be under pressure and the investment situation is basically stable
Due to the double squeeze of high raw material price fluctuations and weakening demand-side market dynamics, the economic benefits of textile companies have continued to be under pressure this year. According to data from the National Bureau of Statistics, the operating income of 36,000 textile enterprises above designated size nationwide increased by 5.7% year-on-year in the first half of the year. The operating income of most links in the industrial chain achieved positive growth. Among them, the operating income of chemical fiber, printing and dyeing, filament weaving and other industries grew at the fastest rate. All reached more than 10%. Under the situation of high costs and weak demand, the total profits of textile enterprises above designated size decreased by 17% year-on-year. Among them, the profit scale of upstream industries such as cotton spinning and chemical fiber has shrunk. The total profits of printing and dyeing, knitting, clothing, home textiles, filament weaving and other industries still achieved Positive growth.
Under the complex development situation, textile companies insist on in-depth promotion of transformation and upgrading, and effective investment in areas such as intelligent and green technological transformation and upgrading, and regional layout adjustment has achieved steady growth. According to data from the National Bureau of Statistics, in the first half of the year, the completed fixed asset investment in my country’s textile industry, chemical fiber industry and clothing industry increased by 11.9%, 31.9% and 33.8% respectively year-on-year. Among them, the growth rate of investment in the textile industry slowed down by 3.3 percentage points compared with the same period last year. The investment growth rates in the chemical fiber industry and clothing industry accelerated by 15.3 and 28 percentage points respectively compared with the same period last year.
04 The development situation remains complex and the foundation for recovery still needs to be consolidated.
In the first half of the year, the textile industry worked hard to overcome the impact of various unexpected factors and strive to enhance development resilience and anti-risk capabilities. Although the main economic operating indicators were under pressure, they showed signs of gradual improvement.elephant. Looking forward to the whole year, the textile industry’s economic operation is still under great pressure, but it still has the foundation for recovery. The domestic epidemic prevention and control situation is generally under control, and the country’s series of solid economic stabilization policies continue to show results. my country’s macro economy is expected to further stabilize and rebound, providing a solid foundation for the domestic demand market to improve and pick up, and the production and demand cycle to maintain a smooth flow. The exploration of key enterprises in the fields of technological innovation, business innovation, supply chain renewal and other fields will help stimulate the vitality of the industry’s operation and the potential of the consumer market, and provide long-term support for the smooth recovery of the textile industry. At the same time, the advantages of my country’s textile industry’s complete and advanced manufacturing system are still outstanding, and it still plays an important and positive role in stabilizing the release of market competitiveness under the complex development situation.
At the same time, it should also be noted that there are still many unstable and uncertain factors at present, and there are still many difficulties in maintaining smooth operation of the textile industry throughout the year. The foundation for the stable recovery of the industry’s economy still needs to be consolidated. The recovery of the international economy is also affected by complex factors such as geopolitical risks, inflationary pressure, and shrinking monetary liquidity. The downward pressure is increasing and it is difficult to achieve significant improvement in the short term. In the context of high prices, factors such as the decline in consumers’ actual purchasing power and high energy consumption that crowds out clothing consumer spending have had a suppressive impact on the international market. The accelerated recovery of textile supply chains in Southeast Asia, South Asia and other countries has intensified the international competition faced by my country’s textile industry. Many factors will increase the pressure on the textile industry’s exports to maintain steady growth. The impact of the domestic epidemic has not yet been completely eliminated. Factors such as restricted consumption scenarios, declining income expectations, and lack of consumer confidence will restrict the growth of domestic consumption of clothing products. In the context of weakening demand, the supply side of the textile industry faces high fluctuations in bulk raw material prices and difficulties in transmitting cost pressure along the industrial chain. The pressure on enterprise production and operation is expected to remain prominent.
The textile industry will continue to implement the decisions and arrangements of the Party Central Committee and the State Council, adhere to the general tone of “seeking progress while maintaining stability”, steadily release the development resilience accumulated through years of in-depth adjustment and transformation, continuously activate high-quality development potential, and continue to give full play to the industry’s role in ensuring production supply, stimulating domestic demand vitality, improving employment and income, etc., strive to consolidate the foundation for stable economic recovery, keep the economy operating within a reasonable range, and welcome the successful convening of the 20th National Congress of the Communist Party of China with practical actions!