Highlights of the cotton textile industry in the first quarter

The latest data from the National Bureau of Statistics show that in the first quarter of 2018, the value added of the industrial enterprises above designated size nationwide increased by 6.8% year-on-year, 0.2 percentage points faster than the entire year of last year. Among them, the added value of the manufacturing industry increased by 7%; in the first quarter, the profits of industrial enterprises above designated size increased by 11.6% year-on-year, continuing to maintain rapid double-digit growth. On the whole, China's industrial economy is showing a trend of steady progress and good education, reflecting the phased results of the current supply-side structural reform. Compared with the national industry, the economic performance of my country's cotton textile industry in the first quarter is still in the adjustment stage. According to the data from the National Bureau of Statistics, the main business income of my country's cotton textile enterprises above designated size in the first quarter fell by 2.9% year-on-year, and their profits fell by 1.7% year-on-year. This was a decrease of 13.6 percentage points and 8.2 percentage points respectively over the same period last year. In terms of import and export, in the first quarter of 2018, the performance of cotton textile enterprises above designated size was optimistic. The export volume of cotton textiles and clothing increased by 1.5%, an increase of 9.52 percentage points from the same period in 2017. Imports increased by 0.82% year-on-year, compared with the same period last year. The growth rate dropped by 9.8 percentage points.　　 The China Cotton Textile Industry Association learned in the 2018 National Spring Survey that the transformation and upgrading of cotton textile enterprises is difficult. The current period is facing rising costs, labor shortages, and adjustment periods of internal and external market changes, and the product structure is also being optimized. At present, it is not possible to immediately reflect market momentum from the first quarter economic performance data, but entrepreneurs maintain full confidence in 2018.　　 At the beginning of 2018, the exaggeration of Sino-US trade frictions reveals that my country's foreign trade pattern will gradually change. At the 2018 Asia Boao Forum, China will promote open and innovative foreign cooperation stances and attitudes, put forward the development direction of trade and investment liberalization and facilitation, and will adopt a number of major measures to expand opening up. For my country's textile industry, especially for export-oriented textile enterprises, the external environment has brought more uncertainties to business operations. With the policy orientation and the development trend of China's foreign trade, the consumption potential of my country's internal market will be further tapped, and the ultimate flow of my country's cotton textiles will also be re-divided in the future. Article Keywords: 　Cotton Textile Industry Association, the transformation and upgrading of cotton spinning economic operation