Recently, the China Textile Industry Federation disclosed the latest industry economic performance at the 15th joint meeting: In the first quarter of 2017, the growth rate of the main operating indicators of the textile industry increased, and the industry operation initially showed signs of stabilization and recovery. However, as external challenges such as the rising tide of reverse globalization, lack of international demand, domestic consumption upgrades, and rising overall costs still exist, industry scale growth indicators tend to slow down.
According to statistics, from January to April of 2017, the industrial added value of enterprises above designated size in the textile industry increased by 5.0% year-on-year, and the growth of production of chemical fiber, cloth, and clothing in the production of major categories of products accelerated. From January to April, the output of chemical fiber, cloth, and apparel of companies above designated size increased by 5.9%, 3.3%, and 2.0% year-on-year, respectively, which was higher than the growth rate of 0.1, 1.4, and 1.4 percentage points in the same period of last year. From January to April, yarn production of enterprises above designated size increased by 4.9% year-on-year, and the growth rate slowed by 0.6% from the same period of last year.
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Since the beginning of this year, the textile industry's exports have shown a steady and steady trend, and the growth rate has shown signs of stabilization. From January to April, China’s total exports of textiles and clothing amounted to 76.49 billion US dollars, an increase of 2.1% year-on-year, an increase of 4.9 percentage points from the same period of last year. Although export prices have decreased, the number of textiles and clothing in our country in the first quarter increased by 4.7% year-on-year. At the same time, due to factors such as the macro economy and the market environment, the growth rate of domestic demand for textile and apparel merchandise in China has shown a steady trend of slowing down. From January to April, the retail sales of apparel, hats, caps and needles above the designated size of the country increased by 7.1% year-on-year, 0.1 percentage points slower than the same period of last year. The growth rate of online retail sales has accelerated, and the retail sales of online wearable goods nationwide have increased by 18.4% year-on-year.
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“The state has introduced many policies to reduce taxes and fees, but the overall cost burden of China's textile enterprises has not been reduced.†The China Textile Industry Federation analyzed that since the beginning of this year, enterprises in the textile industry have had a heavier overall cost burden. In terms of cost of production factors, China's electricity price is nearly twice that of Vietnam, the United States and other places. The domestic cotton price has been higher than the international market for a long time. The current domestic and foreign price difference is about 500 yuan/ton. In terms of financing costs, financing difficulties and expensive financing issues have not been effectively resolved. The burden of tax burden is still heavier. Industry-based production enterprises are subject to value-added tax, and the basic method of taxation and output tax are not changed after the "cattle reform and increase". The deductible input tax accounts for a small proportion of the main business income.
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It is predicted that the pressure on the smooth operation of the textile industry this year is still relatively large. China's economic growth has generally slowed down, consumer sentiment has been sluggish, and domestic demand consumption structure has been upgraded. These factors are not conducive to the acceleration of domestic sales growth in the textile and apparel industry. In addition, fluctuations in raw material prices, higher overall costs, and accelerated deployment of overseas production capacity will all have a direct impact on industry production, exports, and profitability. It is initially expected that this year's textile industry is expected to maintain a stable operation, with the industrial added value of the industry growing by approximately 5.5% year-on-year; the main business income and total profit growth of approximately 8% year-on-year; and the export growth rate will gradually increase.
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