The operation of the textile industry this year and the impact of Sino-US trade frictions

Release time:

2018-10-14

Gao Yong, Secretary of the Party Committee and Secretary-General of the China National Textile and Apparel Council, delivered a keynote speech on the operation of the textile industry this year and the impact of Sino-US trade frictions on the textile industry. The future development of the silk industry pointed out the direction.

In order to implement the national strategy of high-quality development and strengthen the country, and further build a platform for exchange and cooperation in the rayon industry, on October 11, under the guidance of the China Textile Industry Federation, with the strong support of the Jilin Municipal Party Committee, the Municipal Government and relevant departments, the Jilin Chemical Fiber Group Corporation The 4th Global Rayon Industry Forum hosted was grandly held in Jilin City. With the theme of "focus, focus, coordination and innovation", the forum invited leaders of China Textile Industry Federation, famous economists and scholars from well-known colleges and universities to attend. At the same time, more than 400 people from global rayon industry chain enterprises, representatives of large textile and garment enterprises in various provinces and cities, as well as news media, attended the forum. Industry Response to Sino-US Trade Friction

When analyzing the industry situation, Gao Yong believes that, on the whole, the development pressure faced by the textile industry in 2018, especially in the second half of the year, will increase. Although the domestic demand market will still grow steadily, there is little room for improvement in the level of growth. It is expected that the retail sales of clothing, shoes, hats and needles above the quota will increase by about 9% throughout the year. Sino-US trade frictions continue to escalate. Although it is not enough to have a full impact on the textile industry at present, the uncertainty of the export environment will increase, which will have a negative impact on relevant international purchase orders, textile companies' orders and raw material purchases, and the international market Growth slows down, and the export pressure of the textile industry will increase. Considering that the Sino-US trade friction has not yet covered a large proportion of export products such as clothing at this stage, the lower exchange rate of the RMB against the US dollar is generally conducive to exports. It is expected that the export of textiles and clothing for the whole year will increase by about 3% year-on-year, a slight slowdown compared with the first half of the year.

Speaking of the impact of Sino-US trade frictions on the industry, Gao Yong said that the US $200 billion that the United States has announced a 10% increase in tariffs involves about US $4.4 billion in textiles and clothing, accounting for about one-tenth of my exports to the United States. It is mainly carpets and non-woven fabrics and products. The 25% tariff will be imposed next year, which will have a greater impact and has directly affected next year's orders. Concerns about the uncertainty of the follow-up trend have caused orderers and suppliers to maintain a wait-and-see attitude towards goods after $200 billion, delaying orders and making production arrangements for next year difficult. In addition, China's countermeasures have an impact on the import of textile raw materials cotton and paddle meal.

Gao Yong further analyzed that China's textile exports to the United States may decline due to the imposition of tariffs. In the future, ASEAN will be the main force driving the growth of China's textile exports. The industry must take countermeasures. One is to accelerate the pace of global layout under the central "One Belt One Road" initiative; the other is to accelerate the transformation of high-quality development and accelerate the adjustment of the three structures of my country's textile industry (industrial structure, regional structure, and product structure).

October 11 PP plastic prices | atmosphere turned light

Return to List

General Administration of Customs: The impact of Sino-US economic and trade frictions on China's foreign trade is generally controllable.

More information