In the first half of 2024, the economic operation of China's textile industry is generally stable.

Since the beginning of this year, the textile industry chain and supply chain have been operating in an orderly and stable manner, with continuous improvement in the consumption and circulation environment in both domestic and international markets. The overall prosperity of the industry continues to expand. According to estimates from the Industrial Economic Research Institute of the China National Textile and Apparel Council, the comprehensive prosperity index of the textile industry in the second quarter is 63.3%, remaining above the expansion range of 50% for six consecutive quarters, an increase of 6.3 and 9.8 percentage points compared to the same period last year and the first quarter of this year, respectively, reaching a relatively high level since 2021.

The production situation in the textile industry remains stable. Data from the National Bureau of Statistics shows that from January to May, the industrial added value of textile enterprises above designated size increased by 4.8% year-on-year, with the growth rate rebounding by 8.4 percentage points compared to the same period last year. The industrial added value of major links in the entire textile industry chain continues to show positive growth, with sub-industries such as chemical fibers, wool textiles, and filament weaving achieving double-digit growth year-on-year. Among the 15 major categories of textile products reported by the National Bureau of Statistics, 12 categories, including chemical fibers and dyed fabrics, achieved year-on-year production growth.

With residents' income and consumer confidence gradually stabilizing, the integration of brand enterprises accelerating, and the joint efforts of consumption hotspots such as 'big health' and 'national trend', as well as holiday economies and national consumption promotion policies, the domestic sales of textile and apparel in our country have achieved stable growth. According to data from the National Bureau of Statistics, from January to May, the retail sales of clothing, shoes, hats, and knitted textiles above designated size nationwide increased by 2% year-on-year. New e-commerce formats and models such as live streaming sales and instant retail have driven a steady release of online textile and apparel consumption, with the retail sales of online clothing-related products increasing by 9% year-on-year during the same period.

Since the beginning of this year, with the demand in some overseas markets remaining basically stable and international brand merchants slightly replenishing their inventories, the export situation of our textile and apparel has overall exceeded expectations, and the competitiveness of the industry chain remains stable. According to data from the General Administration of Customs, from January to May, the total export value of our textile and apparel reached 115.84 billion USD, a year-on-year increase of 1.4%. Among them, the export value of textiles was 57.13 billion USD, a year-on-year increase of 2.6%; the export value of clothing was 58.72 billion USD, a slight increase of 0.2% year-on-year. Our textile and apparel exports to major markets continue to show a recovery trend, with positive growth in exports to the United States, Mexico, and countries participating in the Belt and Road Initiative from January to May.

The profitability level of textile enterprises continues to improve, with operating income and profits maintaining rapid growth. According to data from the National Bureau of Statistics, from January to May, the operating income of 38,000 textile enterprises above designated size nationwide increased by 6.4% year-on-year, and the total profit increased by 27.3% year-on-year, with growth rates rebounding by 11.6 and 54.8 percentage points compared to the same period last year, respectively. The operating income of the entire textile industry chain achieved positive growth year-on-year, providing important support for the recovery of industry profits, with 80% of sub-industries such as chemical fibers, wool textiles, printing and dyeing, and industrial textiles maintaining a rapid growth level of double-digit profits. The profitability of enterprises and some operational indicators are tending to improve, with the operating income profit margin of textile enterprises above designated size being 3% from January to May, an increase of 0.5 and 0.4 percentage points compared to the same period last year and the first quarter of this year, respectively; the total asset turnover rate accelerated by 1.3% year-on-year, and the ratio of three expenses decreased from 6.9% in the same period last year to 6.5%.