China'S Investment Growth Was Basically Normal, And The Growth Rate Of Production Declined Year-On-Year

It was learned at the fifth member representative meeting of China Printing and Dyeing Industry Association that the latest statistical data showed that the textile industry's economic operation was generally stable from January to August. Although the production growth slowed down, exports and benefits recovered steadily from the previous year.

Wang Tiankai, president of China Textile Industry Federation, pointed out that since this year, with the steady progress of structural adjustment, transformation and upgrading, the overall economic situation of the textile industry has maintained stable development and recovered. However, the slowdown of domestic demand growth, slow recovery of foreign demand, rising production costs and other factors still exist. The problem of excessive difference between domestic and foreign cotton prices is still prominent, and the development pressure of the textile industry still needs to be given sufficient attention.

From January to August this year, the main economic indicators of the textile industry grew, the growth rate of export and efficiency indicators recovered steadily from that of the previous year, the growth of investment was basically normal, and the growth rate of production declined year-on-year. The characteristics of industrial economic operation are as follows:

The growth rate of production has slowed down. The growth rate of production in the textile industry has generally slowed down, and the growth rate of output of major categories of products has generally declined. According to the data of the National Bureau of Statistics, from January to August, the output of chemical fiber, yarn and cloth of textile enterprises above designated size reached 26.867 million tons, 22.555 million tons and 43.27 billion meters respectively, with year-on-year growth of 7.7%, 7.8% and 8% respectively, and the growth rate decreased by 4.3, 5.7 and 2.3 percentage points compared with the same period last year; The clothing output was 16.91 billion pieces, up 0.2% year on year, 7.2 percentage points lower than the same period last year. The relatively slow growth of market demand is the main reason for the slowdown of production growth in the textile industry.

Export growth picked up year on year. The export situation of the textile industry is generally stable. Affected by the low base of the previous year, it shows obvious characteristics of recovery growth, and the growth rate has increased year on year. According to customs statistics, from January to August, China's total textile and clothing exports reached 188 billion US dollars, up 12.7% year on year, 12.9 percentage points higher than the same period last year; However, compared with the first quarter of this year, the export growth slowed by 2.7 percentage points.

Investment growth was basically stable. The investment confidence of textile enterprises has recovered from the previous year, and the new investment projects in the industry have steadily increased. Although the growth rate of total investment has slowed down year-on-year, the growth rate is basically stable compared with the end of last year. From January to August, 9713 new projects with fixed asset investment of more than 5 million yuan in the textile industry were started, an increase of 6.2% year on year, 13.2 percentage points higher than that of the same period last year; The actual investment completed was 561.29 billion yuan, up 16.1% year on year, 0.1 percentage point lower than that of the same period last year, and 1.5 percentage point higher than that of the end of last year. The growth rate of new investment in central and western regions was 18.6% year on year, 4.3 percentage points higher than that in eastern regions.

The operation quality and efficiency have improved. Since 2013, with the improvement of enterprise operation quality and the enhancement of market adaptability, the operation quality and efficiency of the textile industry have improved significantly compared with the same period last year. From January to August, the main business income of textile enterprises above designated size nationwide was 3979.69 billion yuan, up 11.8% year on year, 2.5 percentage points higher than that of the same period last year; The total profit was 184.41 billion yuan, up 16.3% year on year, 17.4 percentage points higher than that of the same period last year; The sales profit margin was 4.6%, 0.2 percentage points higher than the same period last year. The turnover rate of finished products of enterprises increased by 5.6% year on year, the turnover rate of total assets increased by 1.6% year on year, the proportion of three expenses decreased by 0.6% year on year, and the loss amount of loss making enterprises decreased by 4.3% year on year.

Wang Tiankai pointed out that from the operation of the industry in the previous eight months, there are still favorable factors supporting the stable development of the industry. First, although the growth of the domestic demand market has slowed down, the fundamentals are still good and the growth rate is basically stable. With the stability of the market and the restoration of confidence, there is still room for improvement; Second, although the international market recovered slowly, it was generally stable; Third, industrial restructuring, transformation and upgrading will continue to advance, which will enhance the endogenous power of industrial development.

As for the operation of the industry this year, Wang Tiankai predicted that the production, sales, export, efficiency and other operating indicators of textile enterprises above designated size could maintain a steady growth in general, but since September, with the gradual increase of the base number in the same period last year, the growth rate will fall back. He pointed out that the impact on the operation of some industries due to the centralized release of production capacity and cotton price difference should continue to be given priority attention.