Economic Operation: The First Three Quarters Of The Textile Industry Is Running Smoothly.

This year, China's textile industry

Stable growth rate down month by month

Production slowed down obviously.

In the first three quarters of this year, China's textile industry grew faster than the same period last year, and the cumulative growth rate of industrial output value remained at around 30%.

According to the statistics of National Bureau of statistics, in 2011 1~9, China's textile enterprises totaling more than 35 thousand and 600 scale (main business income of more than 20 million yuan) reached 3 trillion and 955 billion 793 million yuan in total industrial output value, an increase of 28.98% compared with the same period last year, and the growth rate of output value slowed down 1.05 percentage points compared with the first half of this year, slowing down 2.64 percentage points compared with the first quarter.

Domestic sales remain stable growth

Since this year, China's macroeconomic environment is relatively stable and residents' income continues to grow and other factors.

Over the same period, China's textile enterprises above Designated Size realized sales value of 3 trillion and 867 billion 126 million yuan, an increase of 29.22% over the same period, including 3 trillion and 196 billion 970 million yuan of domestic sales value, an increase of 32.04% over the same period last year.

And the ratio of domestic sales to total sales value is 82.67%, up 1.77 percentage points from the same period last year.

Shows

Accelerate the pace of regional investment pfer

According to statistics, in 2011 1~9 months, the total investment in fixed assets of China's textile industry above 5 million yuan or above actually reached 486 billion 446 million yuan, an increase of 36.19% over the same period last year.

From the perspective of sub regional structure, the investment growth in the central and western regions is faster and the proportion is further improved.

According to statistics, in 2011 1~9 months, the total amount of fixed assets investment in the textile industry of 5 million provinces and above in the central 6 provinces was 145 billion 146 million yuan, an increase of 57.24% over the same period. In the same period, the total amount of fixed assets investment in the textile industry of 5 million provinces and above in the western 12 provinces was 38 billion 804 million yuan, an increase of 49.29% over the same period.

The growth rate of investment in the central and western regions is significantly higher than that of the whole industry. This shows that the pace of investment in China's textile industry to the central and western regions is accelerating.

Price increase supports export growth

According to our customs express statistics, in 2011 1~9 months, China's total exports of textiles and clothing amounted to 186 billion 139 million US dollars, an increase of 24.26% over the same period last year.

Textile exports amounted to 70 billion 904 million US dollars, an increase of 25.9% over the same period last year, and clothing exports of US $115 billion 235 million, an increase of 23.3% over the same period last year.

Overall exports still maintained a relatively fast growth rate.

However, judging from the price performance of export products, the export price of textile and clothing is significantly affected by the comprehensive influence of the export structure adjustment and cost increase.

According to the China Textile Industry Association, the export price of textiles and clothing increased by 22.34% in the month of 2011 1~8, and the export price of textiles increased by 23.89% compared with the same period last year, and the export price of clothing increased by 21.31% over the same period last year.

Excluding price factors, the number of textile and garment exports increased by only 2.53% in 1~8 months.

Continuous improvement in profitability

Since the beginning of this year, the level of technology application and the level of enterprise management in China's textile industry have been continuously improved.

According to the statistics of National Bureau of statistics, in 2011 1~8, the labor productivity of textile enterprises above Designated Size (calculated according to the gross industrial output value) was 515 thousand and 300 yuan / person, an increase of 21.30% over the same period last year, and the three fee ratio of the industry was 5.62%, down 0.25 percentage points from the same period last year.

Under the combined effect of the strong domestic sales, accelerating the structural adjustment within the industry, and improving the quality of operation, the profitability of China's textile enterprises has increased over the same period last year, but the profit growth rate has continued to fall due to factors such as the increase of comprehensive factor costs and tight funds.

According to the statistics of the National Bureau of statistics, in 2011 1~8, the total profit of textile enterprises above Designated Size amounted to 167 billion 27 million yuan, an increase of 36.37% over the same period last year, and the growth rate dropped 4.78 percentage points from the first half (41.45%), down 17.2 percentage points compared with the first quarter (53.57%), while the total profit margin of the whole industry was 4.99%, a 0.23 percentage point increase over the same period last year.

There are many uncertainties in operation.

Raw material costs fluctuate.

From 2010 to 2011 cotton year (September 2010 ~2011 August), domestic and foreign cotton prices show a rare fluctuation in the world due to factors such as excess capital mobility, world economic recovery and growth fluctuations, and restrictions on exports by some countries.

Since the second half of 2010, China's cotton prices continued to rise rapidly. The price of domestic 328 grade cotton continued to fall after reaching a peak of 31228 yuan / ton in March 10, 2011. It fell to the bottom of 19057 yuan / ton in August 17, 2011, falling 39.1%, and then rebounding slightly, from the end of September to the trend of continuous decline.

The fluctuation of cotton prices will continue to affect the good link of various links in China's textile industry chain.

{page_break}

Uncertainties in global demand increase

Since the beginning of this year, the world economy is still in the recovery stage, but the recovery of major economies is uneven.

The worsening fiscal deficit and debt problem in developed countries has become a major hidden danger for the sustained recovery of the world economy.

At the same time, inflationary pressures are spreading from emerging market countries to developed countries, and continue to increase the uncertainty of the economic situation.

At the same time, the pressure of the depreciation of the US dollar will further accelerate the passive appreciation of the RMB.

As for the products that have been pushed up by cost and continuously raise export prices, the appreciation of the renminbi will continue to weaken the competitiveness of China's textile and apparel export prices.

The currency exchange rate supervision reform act of 2011, which was passed by the United States Senate recently, is mainly aimed at China, which is aimed at forcing the renminbi to accelerate appreciation. It not only violates international rules, but also threatens the stable development of Sino US economic and trade relations.

Tight funding environment

This year's frequent tightening monetary policy has raised the financing cost of the industry too fast and the interest expense has increased significantly.

The increase in the reserve ratio and interest rate of bank deposits and loans makes the interest rate of private credit funds rising.

This has increased the financing cost for some textile enterprises, which are not smooth through the bank financing channels, while many of them are seeking private financing.

According to the National Bureau of statistics data, in 2011 1~8 months, the financial cost of China's textile industry increased by 34.49% over the same period, much higher than that of the main business revenue growth of 4.48 percentage points during the same period.