Stable Economic Operation Of Textile Industry In The First Half Of 2021

In the first half of 2021, in the face of complex domestic and foreign development environment, China's textile industry fully implemented the decisions and arrangements of the Party Central Committee and the State Council, continuously consolidated and expanded the achievements of epidemic prevention and control and the stable situation of production and operation, maintained smooth industrial circulation, rebounded to a high level of industrial prosperity, steadily improved enterprise benefits, and restored investment confidence, The main operating indicators have recovered steadily, and the overall economic situation has been stabilized. Especially in the case of repeated epidemic situation at home and abroad, China's textile industry showed strong development toughness, ensuring the integrity and stable operation of the industrial chain supply chain. Looking forward to the whole year, the development situation faced by the textile industry is still complex, there are many unstable and uncertain factors, and the smooth operation of the whole year is still facing many tests.

Industry prosperity rises to a high level

Production situation continues to improve

Since 2021, with the overall stable situation of domestic epidemic prevention and control, and the recovery of domestic and foreign markets, the prosperity and capacity utilization level of the textile industry have been steadily improving. According to the survey data of China Textile Industry Federation, the prosperity index of China's textile industry in the second quarter of 2021 is 65.4, which is above the 50 prosperity and withering line for five consecutive quarters, which is 8.3 percentage points higher than that in the first quarter of 2021, which is the highest level since 2012, reflecting the significant improvement of business confidence and prospects of enterprises. According to the data of the National Bureau of statistics, in the first half of the year, the capacity utilization rates of the textile industry and chemical fiber industry were 79.7% and 86.1%, respectively, which were higher than the 77.9% level of the national industry in the same period, and increased by 9.4% and 9% respectively compared with the same period in 2020.

The production situation continued to improve. According to the data of the National Bureau of statistics, in the first half of the year, the added value of textile industry above Designated Size in China increased by 9.6% over the same period of last year. Based on the first half of 2019 as the base period (the same below), the average growth rate of two years is 1.1%. The production situation of all the major links in the industrial chain has rebounded in an all-round way, and the growth rate of industrial added value in more than half of the links has reached more than 10%.

The domestic demand market is gradually improving

The export situation has obviously recovered

Since 2021, China's national economy has been steadily improving, which has led to the steady release of consumption potential. Driven by more than one holiday in the first half of the year, the domestic demand market of textiles and clothing has recovered steadily, and the pulling effect on the steady recovery of the industry economy has been strengthened. According to the data of the National Bureau of statistics, in the first half of 2021, the sales of clothing, footwear, knitwear and textiles above the national quota increased by 33.7% year on year, with an average increase of 3.7% in two years. The vitality of online retail has been continuously stimulated, and the market activity of "small but beautiful" independent brands, "Guochao" brands and leisure and sports brands has increased. In the first half of the year, the retail sales of online wear goods increased by 24.1% year-on-year, 27% higher than that of the same period of last year, and the average growth rate in two years was 9.8%.

Under the situation of repeated global epidemic situation, China's export enterprises have increasingly enhanced their ability to cope with risks, showing a good ability to resist risks, and the export of textiles and clothing has maintained a good growth. According to the data of China Customs express, in the first half of 2021, the total export value of China's textiles and clothing was 140.9 billion US dollars, a year-on-year increase of 12.1% and an average increase of 6.2% in two years. Driven by the recovery of overseas terminal market demand and the gradual diversification of export channels, the situation of clothing export continued to improve. In the first half of the year, the cumulative export amount reached 71.53 billion US dollars, a significant increase of 40.3% over the same period of last year, with an average growth of 4.4% in the two years. The proportion of the total textile and clothing exports increased from 40.8% in the same period of last year to 51.1%. Since the beginning of this year, with the increase of vaccination rate of new coronapneumonia vaccine in the world, the demand for epidemic prevention materials has dropped, and the export amount of China's textiles has been reduced. In the first half of this year, the cumulative export amount was 68.56 billion US dollars, a year-on-year decrease of 7.4%, and an average increase of 8.1% in two years.

Continuous improvement of quality and benefit

Confidence in development has risen steadily

According to the data of the National Bureau of statistics, in the first half of the year, 33000 Textile Enterprises above Designated Size in China achieved a total business income of 234.49 billion yuan, a year-on-year increase of 20.3%, an increase of 36.7 percentage points over the same period of last year, and an average increase of 0.3% in two years; The total profit was 107.89 billion yuan, with a year-on-year increase of 41.1%, 60.1% higher than that of the same period of last year, with an average increase of 6.9% in two years. In the first half of the year, the profit margin of operating income of textile enterprises above designated size was 4.6%, 0.7% and 0.5% higher than that of the same period of last year and the first quarter of this year respectively. In the first half of the year, the business income of textile industry, chemical fiber industry and clothing industry increased by 18.9%, 35% and 13% respectively. Over 60% of the total profits increased by more than 30%. The total profits of the chemical fiber industry increased by 387.8% year-on-year due to the rise of bulk commodity prices and the low base factor in the same period of last year. In the first half of the year, the turnover rate of finished products and the turnover rate of total assets of textile enterprises above designated size were 13.2 times / year and 1.1 times / year respectively, which increased by 22.6% and 14.2% respectively year on year; The proportion of three fees was 6.8%, 0.5 percentage points lower than that in the same period of last year.

The development confidence of textile enterprises continued to increase, and the investment rose steadily. According to the data of the National Bureau of statistics, in the first half of the year, the investment in fixed assets of China's textile industry, chemical fiber industry and clothing industry increased by 15.2%, 16.6% and 5.8% respectively over the same period of last year, and the growth rate increased by 37.6%, 33.5% and 43.7% respectively compared with the same period of last year. In terms of regional distribution, the total industrial chain investment in Shandong, Jiangsu and Zhejiang provinces in eastern China has achieved positive growth; The investment in Central China showed a recovery growth, especially in Hubei Province, which was greatly impacted by the epidemic.

Uncertainties remain to be resolved

Stable development contains new opportunities

On the whole, the economic operation of the textile industry continued to recover in the first half of the year, laying a good foundation for the smooth operation of the whole year. Looking forward to the whole year of 2021, the economic operation of the textile industry has the supporting factors to continue to strengthen and improve. The stable recovery of China's macro-economy and the continuous optimization and balance of employment, income and consumption cycle provide the most important endogenous power for the textile industry to smooth the industrial cycle. Relying on the complete and advanced manufacturing industry system, the export competitiveness of the industry has been released steadily, and it has the ability to seize the opportunity of the recovery of the international market. Based on the "double cycle" new development pattern, the textile industry will actively implement the strategy of expanding domestic demand, further integrate the measures such as enhancing traditional consumption, cultivating new consumption and innovating circulation mode with supply side structural reform, strive to tap the demand potential of internal and external markets, and open up new development space in promoting high-quality development.

At the same time, we should also see that the global epidemic situation is still evolving, the domestic economic recovery is still not stable, and the development of the textile industry is also facing unstable and uncertain factors. Since this year, the global epidemic situation has been repeated for many times, and the domestic epidemic situation has rebounded locally in many places, increasing the uncertainty of market recovery, and forming a test for the stable production and marketing situation of the textile industry. The price of bulk commodities rose significantly, exceeding the recovery degree of the terminal market, which caused certain production and operation pressure on the enterprises in the middle and lower reaches of the textile industry chain. In addition, normalized risk pressures such as structural labor shortage and rising comprehensive costs still need to be resolved.

The textile industry will actively implement the decision-making and deployment of the CPC Central Committee and the State Council, further deepen the supply side structural reform, vigorously promote high-quality development, continue to play a positive role in ensuring stable supply, stimulating domestic demand, improving employment and income, and strive to consolidate the stable foundation of economic operation, Make positive contributions to the steady and healthy development of China's national economy in the first year of the 14th five year plan.