Domestic textile industry continues to slow growth in domestic sales this year

Affected by the downward pressure on the domestic economy and rising labor costs, the domestic sales growth rate of the textile industry in China continued to slow down.

Last year, 1810 domestic enterprises above designated size realized an increase of 8.4% year-on-year, while the growth rate decreased by 7.5 percentage points over the same period of last year. Yang Zhaohua, president of the China National Spinners Association, said that the domestic sales growth rate of the home textile industry will be reduced this year.

Yang Zhaohua made the above statement at the 2014 China National Spin Assembly held on the 16th. Not just domestic sales but the slowing down of growth is reflected in many aspects of the industry. In the whole year of last year, China's textile industry above designated size achieved a total revenue of 261.19 billion yuan, an increase of 8.1% over the same period of last year. The growth rate decreased by 3.7 percentage points over the same period, continuing the downward trend since 2010. In addition, exports have also declined slightly.

Yang Zhaohua believes that this is mainly due to the increase in labor and raw material costs and the weakening of demand in the market. When the economic situation became tight, some problems in the industry were exposed. For example, the unbalanced development among several subdivided industries such as bedding products and common clothing overdrafts overdue future demand, delayed the R&D and design layout, and inhibited the increase in value-added products.

"At present, there are quite a few hidden risks that we face." Yang Zhaohua said that emerging markets such as Southeast Asia, although they contribute a lot to exports, are also the most vulnerable to economic fluctuations.

He believes that, at present, the home textile industry must reform itself, enhance R&D and design capabilities, tap the domestic market, strengthen the integration of e-commerce and physical stores, broaden sales channels, cultivate competitive brands, and resolve unbalanced internal and industrial development. Problems, transformation and upgrading as soon as possible.