The Domestic Textile And Garment Industry Is Facing A New Round Of Shuffle.
At the end of the 104th Canton Fair, the volume of purchases in the EU and the United States decreased significantly.
Insiders pointed out that Europe and the United States as China's largest importer of textile and apparel, the decline in their purchases means that the domestic textile and garment exports decline. With the continuous expansion of the financial crisis and the drop in demand from the international market, the textile industry, which is mainly composed of low value-added products, will face a reshuffle again.
The Canton Fair's organizers announced in October 21st that the export of the Canton Fair was $16 billion 450 million, and that the total number of overseas purchasers to the conference was 87305. Compared with the 103rd session's 25 billion 430 million US dollar turnover and the number of 128155 buyers, the current decline could be seen. Among them, the top three of the EU, Middle East and the United States traded in the order of $4 billion 610 million, $2 billion 750 million and $1 billion 630 million, accounting for 55% of the total turnover.
Mu Xinhai, deputy secretary-general of the Canton Fair and spokesman, said that due to the three phase of the Canton Fair, there were also great changes in the exhibition area. The products such as garments and textiles displayed in the first phase were adjusted to the third stage. Therefore, the final paction effect and the buyer's condition will not be fully evaluated until the end of the three phase of the Canton Fair.
Guo Jin securities analyst Zhang Bin pointed out that at present, the textile enterprises are facing difficulties in operation and high homogeneity in their enterprises. They are committed to expanding their scale to fight for export, with a serious supply exceeding demand and a very disorderly market competition. After more than 20 years of rapid development, the industry is in urgent need of integration and survival of the fittest. At present, the temporary difficulties of the market provide a very rare opportunity.
Analysts believe that the Canton Fair as a "barometer" and "wind vane" for China's foreign trade exports, its turnover and purchasers and so on are of concern to everyone. Judging from the turnover of the first phase of the Canton Fair, the volume of purchases in Europe and the United States decreased significantly. The United States and the European Union occupy about 14% and 22% of the domestic textile and garment export market respectively. The changes in the US and European markets have a great impact on the domestic textile export enterprises: first, the shrinking of the international market consumption directly leads to the reduction of orders and the decline of exports; the two is that many foreign buyers, mainly in the US, have difficulty in capital turnover, more and more bankrupt, and bad debts are increasing sharply, and the pressure of capital is finally pferred to Chinese export enterprises.
In recent two years, because of the constant changes of the international market, the domestic textile enterprises are also forced to adjust their industrial structure. Since 2007, textile enterprises have undergone many adjustments. Zhang Bin also pointed out that textile and garment enterprises, especially those with high dependence on exports, are struggling with production and operation. The financial crisis will undoubtedly bring about a new round of shuffling of the industry. Although domestic textile and garment export tax rebates will increase by one percentage point since November 1st, it will have little effect on easing the decline of domestic textile enterprises. The export volume of textile and garment industry still has a large proportion of total domestic exports. In the first 9 months of 2008, the total export of textiles and clothing was US $136 billion 900 million, accounting for 15.33% of the total export volume of US $893 billion 70 million in the first 9 months. In 2007, the export of textile and clothing accounted for 14.9% of the total export of the country.
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