The Current Situation And Problems Of China'S Textile Industry In The First Half Of The Year

Since the beginning of 2010, the textile industry's production, domestic sales and exports have shown a rapid upward trend in data performance. However, with the continuous appreciation of RMB and the adjustment of export tax rebates, the textile industry is now under great pressure.

While seeing the rapid recovery of the textile industry, we must also be vigilant against the uncertainties in the second half of the year.

Basic situation

From the beginning of 2010, China

1. industrial added value has dropped.

In the first half of this year, the added value of the textile industry increased by 12.2%, an acceleration of 4 percentage points over the same period last year, down 1.2 percentage points from the first quarter. In June, the added value of the textile industry increased by 9.8% over the same period last year, down 2.2 percentage points from May.

Two

Domestic cotton and cotton yarn prices continue to rise.

In June, the domestic cotton price index (level 328) price was 18309 yuan / ton, up 838 yuan / ton compared with May, up 42.6% compared to the same period last year.

The price of pure cotton yarn in Qian Qing market is 28500 yuan / ton, up 1000 yuan / ton compared with May, up 60.1% compared with the same period last year.

Although the price of cotton yarn increased faster than cotton in 2010, and the sales situation was better, the efficiency of textile enterprises was not greatly affected.

But cotton resources have been reduced, procurement has no channels and resources have not yet been completed, and textile enterprises are most worried.

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Three

In the first half of this year, the value of export delivery increased by 16.3% over the previous year, 2.4 percentage points faster than the first quarter, an increase of 7.1% over the same period in 2008.

In June, the value of export delivery increased 19%, 1 percentage points faster than that in May.

According to customs statistics, the import and export of goods trade in the first half of the year witnessed rapid growth, with import growth exceeding export growth.

In June, monthly export value and import and export value all reached a record high.

In June 2010, textile and clothing exports continued to maintain rapid growth, and the export growth of textiles still exceeded that of clothing.

Exports of textiles and clothing amounted to US $18 billion 670 million, an increase of 33.4% over the same period last year.

Textile exports amounted to US $7 billion 90 million, an increase of 44%, and clothing exports amounted to US $11 billion 570 million, an increase of 27.7%.

In the first half of this year, the total export volume of textiles and clothing was US $88 billion 880 million, an increase of 22% over the same period last year, of which the textile exports amounted to US $35 billion 650 million, an increase of 32.3%, and garment export volume of US $53 billion 230 million, an increase of 16%.

4., profits have recovered rapidly.

In the 1~5 months of this year, the textile industry achieved a profit of 70 billion 100 million yuan, an increase of 58.7%, an increase of 57.7 percentage points compared to the same period last year, of which the textile industry realized a profit of 41 billion 800 million yuan, an increase of 63.8%, and the garment and its manufacturing industry realized a profit of 20 billion 200 million yuan, an increase of 26.4%.

5. investment growth is stable.

In the first half of 2010, the textile industry and textile and footwear industry increased by 21% and 22.9% respectively, up 0.8 percentage points and 0.6 percentage points over the first quarter.

Main problems

The impact of 1.2009 years of low base.

In the first half of 2010, China's textile industry's production, domestic sales, exports and so on showed a rapid upward trend in data performance, but it is noteworthy that the low base in 2009 will, to a certain extent, lead to overestimation of the main indicators in early 2010, and the operation environment facing the industry in 2010 is more complex, with many factors reducing the periphery.

2. the pressure on exchange rate changes is expected to increase.

The Ministry of Commerce has warned that there will be a slight appreciation in the year.

For the textile industry, the appreciation of RMB is a big blow to small and medium-sized enterprises, but has a relatively small impact on large enterprises with stable customers and bargaining power.

At present, 80% of domestic textile and clothing exports are settled in US dollars, and the appreciation rate of RMB will have a serious impact on the export of domestic textile and clothing.

The excessive appreciation will make the majority of the small and medium-sized OEM export profits significantly diluted or even losses, which will affect the export enthusiasm of enterprises.

3. raw material price increases increase enterprise cost pressure.

At present, the price of cotton has reached the highest level in history. The upstream cost rising has a time lag in the downstream. It is expected that textile enterprises will encounter more intense cost pressure in the second half of the year.

Cotton prices began to increase since October 2009 and reached 14833 yuan / ton by the end of the year.

As of June 30, 2010, the domestic 328 cotton spot index was 18309 yuan / ton, an increase of 42.6% over the same period in 2009.

The rising trend of cotton is still continuing.

4. the possible impact of policy adjustment.

A series of policy adjustments to the export tax rebate may also involve the textile industry.

In June 22nd, the Ministry of Commerce and the State Administration of Taxation issued the notice on canceling the export tax rebates for some commodities, and the export tax rebates for 6 categories and 406 tax numbers will be abolished in July 15th.

The industry is very worried that the future export tax rebate adjustment will involve the textile industry.