Slowdown in China’s textile and apparel export growth in first half
27/08/2014
It attributed the fall to the adjustment to the cotton policy by the Chinese government, which triggered wait-and-see sentiment from downstream textile manufacturing companies and decreased market demand.
While the overall international environment remained favourable for China, emerging economies which previously were global growth drivers were unable to gain momentum, affecting China's export growth.
China's exports of textile products increased by 4.2% in the first half of the year to $53.3 billion, and exports of apparel increased by 4.1% to $79.2 billion.
According to the National Bureau of Statistics, domestic sales of apparel, footwear, headwear and knitwear from January to June 2014 by companies with annual revenue of over RMB20 million ($3.3 million) posted a year-on-year increase of 10%.
The Weiqiao Group kept production costs low by procuring cotton globally and maintaining self-supply in electricity and steam energy, and adopting flexible marketing and pricing strategies, it said.
Cotton yarn output was 208,000 tons, representing a decrease of 12.6% compared with that of the corresponding period last year; grey fabric output was 474,000,000 metres, representing a decrease of 3.5%; and denim output was 37,000,000 metres, essentially flat.
The group has four production bases in Weiqiao, Binzhou, Weihai and Zouping and employs 83,000 people.
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