On January 22, the China Textile Industry Federation's 2017 work summary meeting released the analysis of the industry economic operation from January to November 2017 and the outlook for 2018.

From January to November in 2017, the high-quality development of China's textile industry is reflected in the increase in growth efficiency, high utilization rate of production capacity, rising consumer spending, and conversion of old and new kinetic energy.

The economic operation of the industry presents the following main features: First, the growth rate is stable; second, the domestic demand is growing steadily; third, the external demand market is picking up; fourth, the eastern investment is positive; and fifth, the quality and efficiency are rising steadily.

1. The growth rate is stable

After entering 2017, the growth rate of China's textile industry has gradually stabilized, reaching 4.8% in 2017. The development of China's textile industry has basically shifted from the shift period to the smooth period.

2. Steady growth in domestic demand

The total retail sales of consumer goods increased, and the proportion of retail sales of clothing to social goods fell to 4.0%. The scale is growing, but the growth rate is not fast.

3. The external demand market is picking up

From January to November 2017, the EU, the US and Japan markets in the traditional export market reversed the negative growth of the previous year.

China exported 83.435 billion US dollars of textiles and clothing to the Belt and Road, an increase of 3.11% year-on-year, and reversed two years of negative growth. The export growth rate of textiles and garments of the Belt and Road is higher than that of the industry, and the export of textiles and garments of the Belt and Road is more than one third.

4. Positive investment in the east

From January to November 2017, China's textile industry fixed assets investment was 1,230.93 billion yuan, an increase of 6.29%.

In terms of regional structure, the growth rate of investment in the eastern region was 8.7%, which was 4.5% higher than that in the previous year, accounting for 80.1% of the national investment increase. Due to the small increase in new capacity in the east, its higher growth rate indicates the enthusiasm of enterprises for transformation and upgrading. high.

5, the quality and efficiency of the smooth increase

From January to November 2017, China's textile industry's profit margin was 5.26%, an increase of 0.13% over the previous year, and its profitability has increased. In terms of cost control, the company has achieved a certain improvement in terms of cost control. The profit margin of chemical fiber, filament weaving and textile machinery industry increased significantly; the profit growth rate of cotton spinning, hemp and industrial industries declined; the profit growth of chemical fiber industry accounted for 50.7% of the total industry profit increase. The overall management pressure of the industry has slightly increased compared with the same period of last year.

Looking forward to 2018, global trade growth will slow down slightly. The global economy continues to recover, consumer information will improve, and consumer demand will generally grow steadily; during the economic recovery cycle, the growth rate of clothing consumption is generally lower than that of durable goods and services.

Domestically, domestic consumption has grown steadily, and the growth rate is basically the same as in 2017. The national economy continued to grow steadily, providing a good economic environment for domestic consumption; consumer willingness increased, consumer finance developed rapidly, providing positive support for domestic demand expansion; domestic demand upgrade characteristics were significant, and consumers’ demand for quality, culture and environmental protection increased. Experiencing the rapid development of consumption and sharing economy has brought new challenges to the optimization of the supply side structure of the textile industry.

In 2018, cotton prices are expected to be relatively stable. The international cotton market supply and demand pattern is relatively loose, lacking a substantial price increase basis; domestic cotton and international market spreads are expected to be controlled within a reasonable range.

As the international crude oil supply is gradually eased, international crude oil prices will rise. This will push up the cost of chemical fiber raw materials, but will also support the market sales price of downstream chemical fiber products. The chemical fiber industry is expected to continue to maintain its rapid growth since 2017.

Source "China Textile Network"