The Ministry of Industry and Information Technology released the textile industry in the first half of the year

Since the beginning of this year, China’s textile industry has actively responded to the earthquake in Japan, the turmoil in North Africa, the slow recovery of advanced economies, raising interest rates and raising the deposit reserve ratio, the appreciation of the currency, the sharp fluctuations in the prices of raw materials such as cotton, and rising labor and energy costs. Many unfavorable factors affected the development of the technology, management, and marketing levels. In the first half of the year, production, exports, and profits increased steadily. However, the pace of growth slowed down. The cotton spinning industry was affected by the volatility of cotton prices. Some medium and small textiles Business operations are difficult.

I. Overall performance of the industry is good

(I) Rapid growth in production In 2011-June 2011, the industrial output value of enterprises above designated size in the textile industry was 2393.8 billion yuan, an increase of 30.0% over the same period of last year. The industrial added value of the enterprises above the designated size increased by 9.9% year-on-year, and the growth rate decreased by 2.3 percentage points year-on-year. point. The industry production and sales rate reached 97.6%, which was basically the same as last year.

From January to June, the output of chemical fiber of textile enterprises above designated size was 16.26 million tons, a year-on-year increase of 15.3%, of which chemical fiber output in June increased by 20.0% year-on-year, and the growth rate increased 12.5 and 4 percentage points from April and May respectively; yarn production was 13.41 million. t, an increase of 11.2% year-on-year, of which yarn production in June increased by 13.4% year-on-year, an increase of 6.3 and 4.8 percentage points year-on-year in April and May, respectively; cloth production was 28.3 billion meters, an increase of 15.4% year-on-year, of which fabric output in June was The growth rate was 17.1%. The growth rate was 6.6 and 3 percentage points higher than that of April and May respectively. The clothing output was 11.7 billion pieces, up 12.5% ​​year-on-year, of which the apparel output in June increased 12.1% year-on-year. The growth rate was in April and May respectively. Increase 2.5, 3.2 percentage points.

(II) Investment maintains steady growth, and the growth rate of chemical fiber investment has dropped somewhat From January to June 2011, the total investment of the textile enterprises with over 5 million yuan in China was 295.6 billion yuan, a year-on-year increase of 37.6%. Among them, the cotton spinning industry invested 75.4 billion yuan, an increase of 46.2%, an increase of 12.4 percentage points from the first quarter; chemical fiber industry investment of 30.3 billion yuan, an increase of 53.3%, the growth rate decreased by 55.7 percentage points from the first quarter; apparel industry investment 886 Billion yuan, a year-on-year growth of 40.1%, an increase of 6.8 percentage points from the first quarter.

(III) Good sales and steady growth of economic benefits From January to June 2011, the retail sales above the designated size for clothing, footwear, hats, and needles and textiles reached 372.7 billion yuan, a year-on-year increase of 23.9%, and the growth rate was 0.1 percentage point higher than the same period of last year. Textile exports reached US$45.9 billion, a year-on-year increase of 28.8%, and the growth rate decreased by 3.5 percentage points from the same period of last year. Exports of apparel and accessories reached US$65.8 billion, a year-on-year increase of 23.7%, and the growth rate was 7.7 percentage points higher than the same period of last year. From January to May, the total profit of textile enterprises above designated size (including textile machinery) totaled 97.7 billion yuan, a year-on-year increase of 42.9%, and the profit rate reached 5.1%.

Second, the problems faced

(I) The price fluctuation of cotton has caused a great impact on the textile industry Since March, the prices of textile raw materials such as cotton have continued to fall. On July 20th, the price of cotton (328) was 21,396 yuan per ton, a drop of 31.5% from the highest point of this year. The large fluctuations in cotton prices have had a major impact on the textile industry. The first is a strong wait-and-see atmosphere that affects the confidence of the industry. The price of cotton continued to fall, causing downstream companies to dare to place orders, increase their inventory intentions, and impede sales across the entire industry chain. The second is the increase in inventories and the drop in operating rates. According to our investigation in Xinjiang, cotton textile companies have generally doubled their inventories, and some companies’ inventory has reached three months, a two-fold increase. According to a sample survey by the Cotton Textile Industry Association, the capacity utilization rate of the cotton spinning industry is around 80% (more than 95% last year), and the production and sales rate is only 87%. Third, the profit space is greatly compressed. At present, the price of 32 cotton yarns is 29,500 yuan/ton. Even if cotton is purchased at the current price, the loss of ton yarns will reach around 1,000 yuan.

(II) Increased production cost pressures made the order transfer trend more obvious The increase in labor costs, the appreciation of ***, fluctuations in raw material prices, and the increase in interest rates increased corporate operating costs, which affected the international competitiveness of textile companies. From January to May, the number of garments imported from the United States increased by 6.3% year-on-year, of which the number of garments imported from China decreased by 0.8%, and the number of garments imported from Vietnam, Bangladesh and Indonesia increased by 17.8%, 15.8%, and 17.5%, respectively; The number of imported cotton products decreased by 6.1% year-on-year, of which the quantity of cotton products imported from China decreased by 13.4%. The quantity of cotton products imported from Vietnam, Bangladesh and Indonesia increased by 9.4%, 9.1% and 10.1% respectively; the number of wool products imported from the United States increased year-on-year. 12.7%, of which the number of wool products imported from China decreased by 5.7%, and the number of wool products imported from Vietnam, Bangladesh and Indonesia increased by 22.2%, 6.2% and 45.2% respectively. This shows that the competitiveness of China's textile and apparel products has declined in the international market, and some orders have shifted. Many companies have reported that orders for this year have fallen by about 20% year-on-year.

(III) Difficulties in Financing of Textile Enterprises, Increase in Financing Costs Since the beginning of this year, the Central Bank has raised the deposit reserve ratio six times, and the deposit reserve ratio of large and medium-sized financial institutions has reached a high of 21.5%; since the beginning of this year, China’s financial institutions have kept deposits for one year* * The benchmark interest rate has been accumulatively increased by 0.75 percentage points. The increase in the reserve ratio and interest rate not only increased the difficulty and cost of the banking system, but also increased the ** interest rate of private credit funds. Business impact is particularly serious. From January to May, the interest expense of the textile industry increased by 37.8% year-on-year, which was 6.7 percentage points higher than that of the main business.

Third, the trend of the textile industry in the second half of 2011

In the second half of the year, the textile industry will continue to maintain growth, but the risk of stable growth will increase. First, the international market demand will slow down. The global political crisis in some parts of the world and the natural disasters in some regions have led to an increase in global trade risks. The European debt crisis and the high US fiscal deficit will drag on the recovery of the world economy. The global economy will continue to recover, but the pace will slow. Second, the domestic demand market will continue to maintain rapid growth. With the increase of people’s income and the acceleration of urbanization, the domestic demand market will continue to maintain rapid growth. However, due to factors such as inflation, residents’ spending power on textiles and clothing will be affected. Third, there are more factors that restrict steady growth. The price cuts for cotton and other textile raw materials drastically reduced the profitability of enterprises; the high base in 2010 made it difficult to maintain a high growth rate this year; the current cost pressures on textiles are prominent; the high levels of textile raw materials such as cotton are oscillating, and labor and energy prices continue to rise. The credit policy has gradually tightened, and the transmission of product terminal prices has been lagging behind. In light of the above, the growth rate of the industry will decline from the first half of the year.