Although in the first quarter, under the influence of the improvement of the data threshold, the indicators of size and profitability of textile enterprises above designated size in the statistical category have all reached a new level, but more problems may be covered up. Entering the second quarter, the fact of “slowing down†precisely shows that the pressure on the industry is increasing.
With the combined effect of continuous improvement in the domestic market, rapid export growth, and continuous improvement in the level of corporate management and technology application, China's textile industry showed its first single “starting prosperity†in the first quarter of 2011. However, the macroeconomic environment threatens to perpetuate, the debt crisis in Europe intensifies, the risk of global economic stagflation increases, emerging economies encounter imported inflation, the domestic tightening of the monetary capital chain, raw material prices fluctuates, and weak market demand and other pressure elements. Overweighting, the quality of the industry's operation in the first half of the year is being revolved around the “trending†keywords. The major indicators of production, sales, exports and profits all show a decline in growth.
According to statistical indicators, in the first half of 2011, China’s textile enterprises above the designated size achieved a total industrial output value of 2502.2 billion yuan, an increase of 30% year-on-year; the industry’s total exports of textiles and clothing amounted to 111.7 billion US dollars, an increase of 26% year-on-year; from January to May, The total profit realized by textile enterprises above designated size totaled 97.7 billion yuan, a year-on-year increase of 43%. Several major operating indicators have shown that the industry is operating in a good range during the first half of this year.
However, the actual feeling is far from optimistic. If they are continuously compared and structurally decomposed, problems such as price transmission in the industrial chain, financial pressure, and loss of export market orders are all highlighted. Under the comprehensive game of all parties' forces, the pressure on the industry has not been reduced, especially the difficulties of SMEs.
Take the example of the export with more marked changes in the pattern. As a whole, in the first half of this year, China's textile and apparel exports are still basically in the range of rapid growth. The loss of orders can be a true reflection of foreign trade companies. Focusing on the dispute over “export shrinkage or growthâ€, the different perspectives that people are paying attention to—“growth or quantity growth†have become the key. The situation that “the export volume has contributed a lot to export growth†has remained unchanged since 2011 when China’s textile and apparel products have remained out of quota restrictions.
The effect of exchange rates on foreign sales is also very obvious. For example, if a certain foreign trade company has an order sales of 10 million US dollars, on January 1, 2011, the exchange rate of the US dollar against the U.S. dollar will be 6.62, and 10 million U.S. dollars will be exchanged for 66.2 million yuan; on April 29th, The new exchange rate of 1 US dollar against *** 6.499 yuan to calculate, 10 million US dollars can be exchanged *** 64.99 million yuan, a short period of 3 months, the exchange of foreign exchange income on the difference of 1.21 million yuan. This undoubtedly makes foreign trade companies behave very cautiously with large orders and long orders.
The exchange rate factor is still the case, and in the first half of the year, the unprecedented fluctuations in the price of raw materials with an apparent “watershed effect†have made it even more unavoidable that companies’ psychological expectations have become so weak that demand has become vulnerable to risks.
As for the rumors that the madness in the industry has not been consistently confirmed but the export tax rebate rate has not been consistently lowered, it seems that it can be understood as a real concern for the pattern of export value. What needs to be clarified is that in the illusion that the policy factor is “more restrictive than encouragementâ€, many positive adjustments in macro industrial policies in the first half of the year are in fact still escorting the industry’s stability and structural upgrading.
With the combined effect of continuous improvement in the domestic market, rapid export growth, and continuous improvement in the level of corporate management and technology application, China's textile industry showed its first single “starting prosperity†in the first quarter of 2011. However, the macroeconomic environment threatens to perpetuate, the debt crisis in Europe intensifies, the risk of global economic stagflation increases, emerging economies encounter imported inflation, the domestic tightening of the monetary capital chain, raw material prices fluctuates, and weak market demand and other pressure elements. Overweighting, the quality of the industry's operation in the first half of the year is being revolved around the “trending†keywords. The major indicators of production, sales, exports and profits all show a decline in growth.
According to statistical indicators, in the first half of 2011, China’s textile enterprises above the designated size achieved a total industrial output value of 2502.2 billion yuan, an increase of 30% year-on-year; the industry’s total exports of textiles and clothing amounted to 111.7 billion US dollars, an increase of 26% year-on-year; from January to May, The total profit realized by textile enterprises above designated size totaled 97.7 billion yuan, a year-on-year increase of 43%. Several major operating indicators have shown that the industry is operating in a good range during the first half of this year.
However, the actual feeling is far from optimistic. If they are continuously compared and structurally decomposed, problems such as price transmission in the industrial chain, financial pressure, and loss of export market orders are all highlighted. Under the comprehensive game of all parties' forces, the pressure on the industry has not been reduced, especially the difficulties of SMEs.
Take the example of the export with more marked changes in the pattern. As a whole, in the first half of this year, China's textile and apparel exports are still basically in the range of rapid growth. The loss of orders can be a true reflection of foreign trade companies. Focusing on the dispute over “export shrinkage or growthâ€, the different perspectives that people are paying attention to—“growth or quantity growth†have become the key. The situation that “the export volume has contributed a lot to export growth†has remained unchanged since 2011 when China’s textile and apparel products have remained out of quota restrictions.
The effect of exchange rates on foreign sales is also very obvious. For example, if a certain foreign trade company has an order sales of 10 million US dollars, on January 1, 2011, the exchange rate of the US dollar against the U.S. dollar will be 6.62, and 10 million U.S. dollars will be exchanged for 66.2 million yuan; on April 29th, The new exchange rate of 1 US dollar against *** 6.499 yuan to calculate, 10 million US dollars can be exchanged *** 64.99 million yuan, a short period of 3 months, the exchange of foreign exchange income on the difference of 1.21 million yuan. This undoubtedly makes foreign trade companies behave very cautiously with large orders and long orders.
The exchange rate factor is still the case, and in the first half of the year, the unprecedented fluctuations in the price of raw materials with an apparent “watershed effect†have made it even more unavoidable that companies’ psychological expectations have become so weak that demand has become vulnerable to risks.
As for the rumors that the madness in the industry has not been consistently confirmed but the export tax rebate rate has not been consistently lowered, it seems that it can be understood as a real concern for the pattern of export value. What needs to be clarified is that in the illusion that the policy factor is “more restrictive than encouragementâ€, many positive adjustments in macro industrial policies in the first half of the year are in fact still escorting the industry’s stability and structural upgrading.
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