In The First Three Quarters, The Pressure Of Economic Operation Of Textile Industry Has Increased, And The Task Of High Quality Development Is Urgent.

Since 2019, the development environment of China's textile industry at home and abroad has been more severe. The slowdown in market demand and the trade environment risk are intertwined, and the challenges and difficulties have increased significantly. The textile industry insists on deepening the structural reform of the supply side, and continues to accelerate the transformation and upgrading. Under the pressure of increased production and business pressure, the resilience of resistance to downside risks continues to show. The boom is still in the expansion area, and the economic situation is basically consistent with the external situation.

Industry boom continues to expand.

Production to achieve low speed growth

Since 2019, the boom of the textile industry has continued to expand. According to the survey data of China Textile Industry Federation, the textile industry boom index in the three quarter was 51.9, and it continued to expand at 50 or more, a slight reduction of 0.1 points over the two quarter.

The commencement of textile industry is generally normal, and production keeps low speed and steady growth. According to the data of the National Bureau of statistics, in the first three quarters of 2019, the capacity utilization rate of the textile industry (including spinning, weaving, dyeing and finishing, home textile, industrial use, etc.) was 78%, 2.6 percentage points slower than that of the same period of last year; the capacity utilization rate of the chemical fiber industry was 83.1%, 1.1 percentage points higher than that of the same period of last year; the capacity utilization rate of the textile industry and the chemical fiber industry were higher than that of the national industry of 76.2% in the same period. The industrial added value of Enterprises above Designated Size in the textile industry increased by 2.9% year-on-year, and the growth rate was the same as that of the same period last year, 0.7 percentage points slower than that of the first half of this year. In all links of the industrial chain, the production growth of chemical fiber and industrial textiles industry is more stable. In the first three quarters, the industrial added value increased by 12.3% and 7.4% year on year, respectively, 9.4% and 4.5% higher than that of the whole industry.

Increasing pressure on efficiency growth,

Investment scale has declined

Since 2019, the profit pressure of textile industry has increased, but part of the industrial chain has achieved good results. In the first three quarters, China's 34000 Textile Enterprises above Designated Size achieved an operating revenue of 3715.26 billion yuan, a year-on-year increase of 1.5%, a slowdown of 2.7 percentage points over the same period of last year; achieved a total profit of 156.15 billion yuan, a year-on-year decrease of 7.6%, a growth rate lower than 14.7 percentage points over the same period of last year; and an operating revenue profit margin of 4.2%, a decrease of 0.4 percentage points over the same period of last year. Among all sub industries, the total profits of filament, printing and dyeing and knitting industries increased by 7.9%, 4.7% and 3.7% year-on-year respectively, which were 15.5, 12.3 and 11.3 percentage points higher than that of the whole industry; the profit margins of clothing, industrial textiles and textile machinery industries were stable at a high level, 5.2%, 5.0% and 6.8% respectively, which were basically equivalent to the same period of last year.

The scale of investment in fixed assets of textile industry has been reduced and regional layout has been adjusted continuously. In the first three quarters, the amount of fixed asset investment in the industry decreased by 7% year-on-year, with the growth rate lower than 12.8% and 5.7% respectively in the same period of last year and the first half of this year. By industry, the investment in textile industry, clothing industry and chemical fiber industry decreased by 8.2%, 2% and 15.4% respectively year on year. In terms of regions, Fujian Province in the East, Hubei Province in the middle, Hunan Province in the East and Chongqing City in the West all show a positive growth trend of investment in the whole industry chain, which is a regional bright spot in the situation of relatively low investment confidence in the whole industry.

The uncertainty of the future will continue.

High quality development tasks urgent

The complexity and uncertainty of the development environment of China's textile industry will continue in the fourth quarter of 2019 and 2020. The slowdown of global economic growth has become a general expectation, and the export situation of the textile industry is generally not optimistic. However, at this stage, the lack of kinetic energy to improve the international market demand and the rising risk of international trade environment have become the influencing factors of normalization. It is an inevitable and urgent task for the textile industry to continuously improve its development toughness and tap the potential of domestic demand market. At present, the Chinese government has put the work of "six stability" in a more prominent position, focusing on steady employment, stable finance, stable foreign trade, stable foreign investment, stable investment, stable and expected increase in counter cyclical regulation and control, implementation of tax reduction and other series of policy initiatives, and continuous improvement of the business environment. The overall and stable basic support of the macro economy and the strong domestic market are the primary driving force and key for the future development of the textile industry. The textile industry will continue to comprehensively implement the nineteen spirit of the party, speed up the development of high quality, strengthen domestic demand and tap the potential, foster effective investment and consumption demand, promote structural adjustment and upgrading of energy supply, further stabilize the competitiveness of the international market, consolidate the foundation of resistance to downside risks, ensure overall economic stability, and make a due contribution to ensuring the smooth operation of the national economy and building a well-off society in an all-round way in 2020.