Currently, China’s textile industry has entered a new normal of slowing growth. The relevant person in charge of the China National Textile and Apparel Industry Federation analyzed to reporters on the 4th that the current development mainly shows three major characteristics: namely, the growth rate is slowing down, the development pressure is increasing, and the power conversion is urgent.
In 2014, there were some new changes in China’s textile industry. The market environment of the entire industry was not ideal, and the economic growth of the industry was stable and slowing down. The main economic growth indicators of enterprises above designated size have been reduced to single-digit growth, and the operating pressure of enterprises is great. In addition, China’s textile and apparel import and export experienced negative growth in the first month of 2015.
The relevant person in charge of the China Textile and Apparel Industry Federation pointed out that the above all indicate that China’s textile industry has entered a new normal of development.
First of all, the growth rate of China’s textile industry has slowed down, with progress amidst slow growth. As a consumer goods industry, China’s textile industry is closely related to the country’s macroeconomic development. As China’s economic growth slows down, it will eventually affect the industry’s demand growth. Under the new normal, the textile industry has shifted from high-speed growth to medium-speed growth.
Secondly, development pressure has increased and differentiation has accelerated. Under the new normal, the overall operation and development pressure of China’s textile industry has increased, and textile companies, regardless of size, generally feel that it is more difficult to survive. The reasons include relatively weakened demand growth, intensified resource and environmental constraints, rising factor costs, accelerated changes in terminal demand with personalization and differentiation as the mainstream, and micro market factors such as staged and structural overcapacity in some industries. The most important reason is that the original production model is unsustainable, and the new model is still in the process of being explored and formed. Therefore, the survival of the fittest among textile enterprises will intensify under the new normal.
Finally, the transformation of power is urgent and the key is innovation. Under the new normal, the core of the development of China’s textile industry is to promote transformation and upgrading, change its reliance on investment-driven and factor-driven, and instead rely on innovation in technology, brand, management, system, mechanism and business model to promote the development of the entire industry.
Industry experts emphasize that as necessities, the market demand for Chinese textiles is still rigid, and their sales growth in 2015 is expected to be the same as last year.
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