The Marginal Slowdown Of Economic Growth, The Central Bank Reduced The Reserve Rate To Protect Entities, And The Domestic Cotton Price Rise Was Controllable

According to the latest data of the National Bureau of statistics, China's GDP growth rate was 7.9% in the second quarter (18.3% in the first quarter and 5.5% in the two years). Premier Li Keqiang pointed out that it is necessary to coordinate the economic operation in the second half of this year and next year, and strive to keep it within a reasonable range.

The recent measures to reduce the reserve requirements should focus on supporting small and medium-sized enterprises and labor-intensive industries. In terms of domestic cotton market, Xinjiang cotton has entered the flowering and boll period recently, and the cotton growth is gratifying. In the spot market, most cotton enterprises quoted higher prices along with the futures price. Textile enterprises continued to purchase mainly on rigid demand, and the transaction of reserved cotton was still hot. This week, the listed quantity of reserved cotton was 47700 tons, and the transaction rate continued to be high.

After the rapid rise of cotton price and cotton yarn, the domestic sales orders of downstream fabrics slowed down, and the export fabric orders improved. At present, there are differences in policies between China and the United States, and the financial market tends to be cautious. Zheng Mian's trend fluctuates on Friday. We need to be alert to the impact of external market uncertainty.