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    The Textile And Garment Industry Benefits From The RMB Exchange Rate.

    2016/1/9 12:02:00 33

    Textile And Garment IndustryRMBDepreciation

    In the field of textile and clothing, export volume has been declining due to the rising cost of manufacturing in recent years and the appreciation of the RMB exchange rate.

    According to statistics from the General Administration of customs, export of textiles and garments in China last year -11 US $256 billion 946 million in January last year, down 5.79% from the same period last year.

    Among them, textile exports amounted to 99 billion 721 million US dollars, down 2.59% compared with the same period last year, and exports of garments and accessories were 152 billion 725 million US dollars, down 7.71% compared with the same period last year.

    The fall of the RMB exchange rate will benefit the export of textile and garment industry, which is relatively large.

    Order price

    More dollar denominated, weaker RMB against the US dollar will raise the price of RMB order, thereby increasing revenue.

    At the same time, at the asset liability side, foreign exchange assets or liabilities owned by enterprises will also generate exchange gains and losses under the effect of exchange rate changes.

    In addition, the improvement of export competitiveness in the international market will also help increase orders and improve sales.

    7, China foreign exchange trading center, RMB versus US dollar.

    exchange rate

    The median price was 6.5646, a sharp reduction of 332 basis points over the 6 day, and a eighth consecutive trading day, the lowest since March 18, 2011.

    The organization believes that the weakening of the RMB exchange rate will promote China's exports and increase the exchange earnings of related enterprises, especially those with high proportion of export-oriented businesses.

    It is estimated that

    Textile and clothing

    The most beneficial RMB exchange rate will drop by 1% to 2% to 6%.

    In addition, the weakening of the RMB exchange rate also helps to enhance the competitiveness of export products, such as textiles, clothing, household appliances, steel and so on. In addition, due to the depreciation of the renminbi, the gold effect of hedging tools also highlights.

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    In 2015, the textile and garment sector rose by 89.71%, ranking third in all sectors.

    Textile manufacturing and clothing home textiles rose quite the same, 89.64% and 89.99% respectively, far exceeding the Shanghai Composite Index's 9.41% annual increase.

    From the perspective of individual stocks, the market concern of the pformation stocks is high and the increase is large.

    Clothing CPI began to pick up from 14 October. The value in the first half of this year is around 3, indicating that clothing consumption is slowly recovering, but since the second half of the year, it has continued to decline to 2.25 in November.

    In 1-11 months, the total retail sales of shoes and hats increased by 8% over the whole society, and the growth rate continued to decline.

    The clothing sales situation of 100 key shopping malls showed an obvious trend of increase in volume and price.

    By November, sales of clothing increased by 4.5% over the same period last year, but sales fell by 5% over the same period last year.

    Company performance level: from January to the three quarter, the revenue and net profit of the listed companies of Shen Wan textile and garment sector increased by 7.25% and 14.22% compared with the same period, and the gross profit margin and net profit margin increased slightly.

    Sub sector, especially the clothing sub sector and key consumer stocks and net profit growth significantly.

    In the balance sheet of the three quarterly report, the turnover of inventory and accounts receivable continued to decline, and the index did not improve.

    But judging from the absolute increase in inventories, it has slowed down significantly.

    The two quarter of the apparel industry accounts receivable significant downward trend was changed, the three quarter increased rapidly, accounts receivable increased from the brand clothing company to increase the dealer credit.

    Exports continued to fall: export growth continued to fall.

    China's customs data show that the total export volume of domestic textiles and clothing has been declining year after year in 13 years, and 1-10 in this year dropped 5.4% compared with the same period last year.

    In terms of regions, exports of textiles and clothing to the 27 countries of the European Union continued to decline, and exports to the United States were relatively stable.

    On the policy side, the TPP agreement is the most direct negative impact on China's exports, and the continuous rise in labor costs is the core reason for the decline in competitiveness of traditional manufacturing industries in China.


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