On July 8, the fifth Executive Council meeting of the fifth session of the China Textile Industry Federation was held in Beijing. The meeting released the economic operation of China's textile industry in the first half of 2024.

Since the beginning of this year, China's textile industry has fully implemented the decision-making and deployment of the Party Central Committee and The State Council, adhered to the principle of seeking progress in stability, promoting stability with progress, standing first and breaking later, continued to deepen transformation and upgrading, and accelerated the construction of a modern industrial system. Under the support of positive factors such as the continuous release of the national macroeconomic policy effect and the gradual recovery of domestic and foreign market demand, the supply and demand of the textile industry continued to grow steadily in the first half of the year, the efficiency level continued to improve, the development confidence was consolidated, and the economic operation trend was basically stable. Looking forward to the whole year, the development situation facing the textile industry is still complex and severe, and it is still facing many tests to accelerate the consolidation of the stable and good foundation and continue to promote high-quality development.

The industry prosperity level maintained expansion, and the production supply increased steadily

Since the beginning of this year, the textile industry chain supply chain has operated in an orderly and stable manner, the domestic and foreign market consumption and circulation environment has continued to improve, and the overall prosperity of the industry has continued to expand. According to the Industrial economic Research Institute of China Textile Industry Federation, the comprehensive climate index of the textile industry in the second quarter was 63.3%, which was located in the expansion range of more than 50% for 6 consecutive quarters, an increase of 6.3 and 9.8 percentage points from the same period last year and the first quarter of this year, which is a higher level since 2021.

The production situation of the textile industry remained stable. Data from the National Bureau of Statistics show that from January to May, the industrial added value of enterprises above designated size in the textile industry increased by 4.8% year-on-year, and the growth rate rose by 8.4 percentage points over the same period last year. The industrial added value of the main links of the whole textile industry chain continued to grow positively, and the industrial added value of chemical fiber, wool textile, filament weaving and other sub-industries achieved double-digit growth year-on-year. Among the 15 textile categories counted by the National Bureau of Statistics, the output of 12 categories of products, such as chemical fibers and printed and dyed cloth, increased year-on-year.

The domestic market grew steadily and exports continued to recover

In the first half of this year, under the support of residents' income and consumer confidence gradually stabilizing, the acceleration of the integration of brand enterprises, the consumption hot spots such as "big health" and "national tide" and the joint efforts of the holiday economy and the national consumption promotion policy, domestic sales of textiles and clothing in China achieved steady growth. According to the data of the National Bureau of Statistics, from January to May, the retail sales of clothing, shoes and hats and textile products above the quota increased by 2% year-on-year. New forms and models of e-commerce such as live streaming and instant retail led to the steady release of online textile and apparel consumption, and the national online retail sales of wear goods increased by 9% over the same period.

Since the beginning of this year, driven by the basically stable demand in some overseas markets and a small amount of replenishment by international brands, China's textile and apparel exports have been better than expected, and the competitiveness of the industrial chain has remained stable. According to China Customs Express data, from January to May, China's textile and apparel exports totaled 115.84 billion US dollars, an increase of 1.4%. Among them, textile exports were 57.13 billion US dollars, up 2.6% year on year; Apparel exports were 58.72 billion U.S. dollars, a slight increase of 0.2 percent year-on-year. China's textile and apparel exports in major markets continued to repair the overall trend, and the scale of textile and apparel exports to the United States, Mexico and countries along the "Belt and Road" achieved positive growth from January to May.

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