Gao Yong of China’s textile industry: Recognize the situation and move forward
Gao Yong, vice president and secretary-general of the China Fabric Industry Federation, recently shared the basic situation of my country’s fabric industry this year with the participants at the second council meeting of the fifth session of the China Cotton Textile and Weaving Industry Association. He mainly talked about the following points: Aspects of content:
1. Macroeconomic growth is hard-won
When talking about my country’s current macro-economy, Chairman Gao said that my country’s GDP grew by 6.7% in the third quarter, which is particularly extraordinary. First of all, of course, the central government proposed supply-side structural reforms and made certain progress. There are also innovations in all walks of life that will definitely bring growth. It should be more government-led investment that promotes the stable progress of our economy.
2. Fabric production is basically running smoothly
When talking about the current situation of my country’s fabric industry, he pointed out that since the beginning of this year, fixed asset investment in my country’s fabric industry has slowed and stabilized. In the first nine months, the industrial added value of the fabric industry increased by 5.6% year-on-year, which was 1% lower than the growth rate in the same period last year. percentage points, and is lower than my country’s macro-GDP growth in the same period. In the first nine months of this year, my country’s fabric workwear exports fell by 5.9%, and the growth in scale efficiency has slowed down.
3. Recognize the situation clearly and move on
Cotton textile companies should look at the current macro situation correctly and objectively. Although commodity prices have rebounded, it does not mean that the industry has begun to rebound, nor does it mean that the economy has bottomed out. Of course, demand has indeed rebounded, so in the future Commodities may also rise steadily.
The connection between the fabric industry and the terminal market is basically smooth, and the home textile, workwear, and industrial industries are operating well, with profit growth and sales profit margins higher than the industry-wide levels. The quality of industrial fabrics is still a bright spot and continues to play a role as a new growth point in the industrial chain.
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