Increased profitability in the industry will continue to maintain high prices
China's textile industry economic operation analysis will focus on the outlook for the "11th Five-Year" period, with a review of this year's performance. Industry profitability is expected to rise, while raw material prices are likely to remain high. (Reporter: Zhang Jiazhou) On January 21, following the release of the National Bureau of Statistics' 2010 national economic data, an important conference on the economic operation of China's textile industry was held in Beijing. The event attracted significant attention from industry professionals and provided a comprehensive look at the sector's development during the "11th Five-Year Plan" period.
The meeting highlighted that despite the impact of the global financial crisis during the "11th Five-Year Plan," China's textile industry continued to grow steadily. Improvements in quality, efficiency, and structural upgrades were notable. Key figures such as Du Yuzhou, President of the China Textile Industry Association, Xu Kunyuan, Vice Chairman of the China National Textile and Apparel Council, and others attended the conference, which was chaired by Sun Huaibin, Director of the China Textile Industry Economic Research Center.
According to the analysis, the output value of the textile industry saw significant growth in 2010. Production and sales remained stable, and the contribution of value added increased. Major product outputs hit record highs, and investment in the industry continued to rise. Regional transfers accelerated, especially in central and western China. Exports expanded, increasing market share and international competitiveness, while domestic demand remained strong, contributing significantly to sales.
The conference analyzed the roles of investment, consumption, and exports during the "11th Five-Year Plan." Total investment in the industry reached 400.6 billion yuan in 2010, up 1.51 times compared to 2005, with an average annual growth rate of 20.19%. New projects increased by 75.66% over 2005. Textile exports grew by 75.72% compared to 2005, with an average annual growth rate of 11.93%.
Domestic demand played a key role, with the growth of textile output exceeding export growth. In 2010, the retail growth rate of clothing, shoes, and caps above designated size was 24.8%, outpacing overall societal growth. Profitability also improved, with the profit margin reaching 5.44% and total asset contribution at 13.89%, both higher than in 2005.
Industrial transfer to central and western regions became more evident, with eastern investment decreasing by 21.04 percentage points from 2005. Meanwhile, the central and western regions saw increases of 17.96 and 3.08 percentage points, respectively.
During the "11th Five-Year Plan," China's textile industry benefited from globalization, enhancing its international competitiveness and market-oriented development. In 2010, exports rebounded alongside the global market, achieving rapid growth. Emerging economies contributed more to global growth, creating new opportunities for Chinese textile exports.
Over the past five years, China's economy experienced steady and rapid growth, driven by improving foreign demand and rising domestic demand. This led to faster economic recovery and stronger domestic demand contributions. Increasing national income supported continued expansion of domestic consumption, which has been growing faster than before, providing crucial market support for the textile industry.
Looking ahead to 2011, the conference analyzed both favorable and unfavorable factors. While the global economy remains in recovery, growth is expected to slow due to high unemployment in developed countries and inflation in emerging markets. Domestic economic growth may show a downward trend, with slower fixed asset investment. Fiscal and monetary policies in 2011 will be tight, focusing on structural adjustments and social welfare. The renminbi is expected to gradually appreciate against the U.S. dollar, and textile materials like cotton and chemical fiber are likely to remain at high levels.
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