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A Brief introduction to the economic operation of China's industrial Textile Industry in 2019

In 2019, China's industrial textile industry will adhere to the innovation-oriented approach, actively promote the transformation and upgrading of the industry and structural reform, fully explore domestic and foreign markets, strive to overcome the downward pressure of the economy, and make steady progress throughout the year. According to the National Bureau of Statistics (NBS), in 2019, the industrial added value of enterprises above the industrial scale grew by 6.9%, higher than the average of the manufacturing industry and leading the textile industry.

In terms of production, the global demand for nonwovens continues to be strong in 2019. The annual output of nonwovens of enterprises above the industrial scale reached 5.03 million tons, with a year-on-year growth of 9.9%. The downturn in the auto industry has also affected related supporting industries, with the output of cord fabric falling 7.4 percent year-on-year to 623,000 tons in 2019.

In terms of economic benefits, in 2019, the main business income of enterprises above the scale in China's industrial textile industry (non-full-caliber) reached 235.93 billion yuan, up 1.2% year on year, and the total profit was 11.88 billion yuan, down 4.3% year on year. The average profit margin of enterprises was 5.9%, 0.3 percentage points lower than the same period of last year. In 2019, due to the low prices of main fiber raw materials and the implementation of the national fee reduction and tax reduction policy, the gross and operating profit margins of the industrial textile industry increased by 0.5 percentage points. However, the changes in non-operating income and expenditure resulted in the decrease of the profit level of the industry. In 2019, business differentiation among enterprises continued to expand, with losses of enterprises above the industry scale reaching 12% and losses of loss-making enterprises increasing by 29.4% year on year.

By industry, in 2019, the main business income of nonwovens enterprises above designated size will increase by 2.9%, gross profit margin will increase by 0.3%, but total profit and profit margin will decrease by 3.8% and 0.4 percentage points respectively. The profitability of the awning and canvas industries improved. The growth rate of main business income and total profit decreased by 2.9% and 0.4% respectively, but the gross profit margin and profit margin increased by 1.5 and 0.3 percentage points respectively. Affected by market demand and other factors, the growth rate of main business revenue in the rope, cable and cable industry and the textile belt and cord fabric industry decreased by 2.3% and 3.6% respectively, and the growth rate of total profit decreased by 18.2% and 9.7% respectively. The main business income of other industrial textiles (including filtration, geoengineering, safety protection, transportation and composite materials, etc.) increased by 3.7%, the total profit decreased by 1.7%, and the gross profit margin and profit margin reached 16.1% and 7.2% respectively, which are the leading levels in the industry.

In terms of international trade, China's export value of industrial textiles in 2019 was 27.34 billion US dollars, up 2.1% year-on-year, and its import value was 6.73 billion US dollars, down 5.7% year-on-year. From main product markets, industrial coating fabric, nonwoven fabric and felt cloth/tent is the top three of export products, export growth of 0.4%, 5.4% and 2.7%, respectively, in the industrial textiles accounted for more than thirty percent of total exports, one of the nonwoven fabric exports of 1.051 million tons, up 9.1% from a year earlier, while exports of industrial coating fabric and felt cloth/tent was decreased by 3.2% and 1.2% respectively. Exports of disposable sanitary products continued to remain robust, with exports and exports surging by 16% and 18.8%, respectively, from the same period last year. From the perspective of export price, the export unit price of 4 categories of the top 10 products has a small increase, among which the increase of cord (cable) textile is 5.2%, while the export price of other products has a small decrease. As a whole, quantity is still the main factor to promote the export growth of China's industrial textiles.

From the perspective of major export markets, the United States is still China's largest export market, with an export volume of 3.7 billion US dollars. Affected by trade frictions, the export volume decreased by 9.1% compared with the same period last year. Vietnam surpassed Japan to become the second largest exporter, with an increase of 10.1% compared with the same period last year, and the export volume to Japan and South Korea is basically flat. The export of China's industrial textiles to the countries along "One Belt And One Road" is becoming an important driving force for the export growth of the industry. In 2019, the export volume of China's industrial textiles to the countries along "One Belt And One Road" has reached 10.85 billion us dollars, with a year-on-year growth of 7.1%, among which the export volume of nonwovens to them and the export volume have increased by 16.7% and 18.9% respectively.

The year 2020 marks the end of the building of a moderately prosperous society in all aspects and the 13th Five-Year Plan. The coVID-19 epidemic at the beginning of this year has brought great uncertainty to the development of the global economy, and the internal and external development environment of China's industrial textile industry has become more complex. At the same time, the production and investment of masks, medical protective suits and disinfection wipes and other products brought by the epidemic have increased rapidly, and the state has issued a series of supportive policies to help enterprises to rescue the epidemic. All these positive factors are conducive to easing the development pressure of the industry. It is expected that the production and sales of China's industrial textile industry will decline to a certain extent in the first half of 2020. The situation will improve in the second half of the year, and the annual production, sales and export will maintain a small growth.

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