Facing the multiple challenges of economy and innovation, how can China's textile manufacturing industry break the situation?

Release time:

2018-10-09

At present, the global garment manufacturing industry has undergone major changes, and China's textile manufacturing industry is also facing new opportunities and challenges.

At present, the global garment manufacturing industry has undergone major changes, and China's textile manufacturing industry is also facing new opportunities and challenges.

On the one hand, since the beginning of this year, the world economy has accelerated its recovery, and the domestic economy has been steadily improving, creating a relatively good market demand environment and laying a good foundation for the export and domestic markets of my country's textile and apparel industry. On the other hand, facing the complicated international trade environment, China's textile industry has also appeared some new situations and new developments.

On September 27-29, the 2018 China International Textile Fabrics and Accessories (Autumn and Winter) Expo (hereinafter referred to as the intertextile Autumn and Winter Noodle Accessories Exhibition) opened at the National Convention and Exhibition Center (Shanghai). Huang Renyong of Shanghai Jinlin Textile Industry Co., Ltd. told the reporter of "China Sankei Shimbun" that compared with previous years, there are fewer foreigners participating in the exhibition this year, and there are many fewer.

Coincidentally, Li Zhengqing of Hanbo (China) Co., Ltd. has similar feelings. "This time the exhibitors mainly come to Jiangsu and Zhejiang. In contrast, the number of exhibitors from the Pearl River Delta region, especially Shenzhen, has decreased." Li Zhengqing told the reporter of China Sankei News.

The first question before us is, why is this happening?

Sino-US trade friction may be an important reason. Yu Xiaohong, an analyst at Zhongyu Information, said that China is the largest exporter of textiles and clothing, and the proportion of textile and clothing exports in China's total foreign trade remains at about 13%. In 2017, China's exports to the United States accounted for 15.5 percent of total textile and apparel exports. With the uncertain rise of the trade environment and the increase of tariff barriers, China's textile and garment industry, which is more dependent on exports, will inevitably be impacted.

Does China's textile industry, affected by the trade environment, provide a labor advantage?

The reporter checked the data and found that in recent years, the labor cost of China's manufacturing industry has shown an upward trend. In 2014, labor costs in China were three times higher than in Vietnam. According to a report released by Deloitte, labor costs in China have risen fivefold in the 10 years from 2005 to 2015. According to research results released by the Oxford Institute of Economics, a global economic research and government business consulting agency, China's manufacturing industry The labor cost is only 4% lower than that of the United States, and much higher than that of India.

In addition, consumer preferences have also had an impact on the development of China's textile industry. In recent years, although the volume of textile e-commerce transactions has increased year by year, the growth has been weak.

In the face of the above situation, how should China's textile industry break?

Many manufacturing experts told reporters that although the Sino-US trade friction has caused no small challenge to China's textile industry, the volume and price of China's textile and clothing may be suppressed. However, China is still the largest exporter of textiles and clothing, and the future development of China's textile industry is still worth looking forward.

Some analysts pointed out that the Sino-US textile trade friction has a long history, and it did not stop the development of China's textile industry in the most difficult time, but accelerated the upgrading of China's textile industry. In the face of this situation, Chinese textile manufacturing enterprises should speed up the pace of transformation and upgrading, become stronger and bigger, see the general trend, constantly innovate, and enhance the ability to resist risks.