In 2024, in the face of the complex and changeable development environment at home and abroad, China's textile industry fully demonstrates the resilience of development, actively plays the effectiveness of the national series of stock incremental policies, the overall economic operation trend is stable, the main operating indicators have recovered from the previous year, exports, investment and some quality and efficiency indicators have shown positive changes, and market confidence and development expectations have improved. Looking forward to 2025, the development environment facing the textile industry is still complicated, and there are many risks and tests, and it is still necessary to continue to consolidate the foundation of stable and good development and continue to make positive contributions to the steady growth of the national economy.
The production situation remained stable, and the efficiency was repaired and improved
In 2024, the capacity utilization level of the textile industry is rising steadily, and the supply side is showing a steady growth trend. According to the data of the National Bureau of Statistics, the capacity utilization rate of China's textile industry and chemical fiber industry in 2024 will be 78.5% and 85.4%, respectively, an increase of 2.1 and 1.1 percentage points over the previous year, both higher than the capacity utilization level of 75% of the national industry in the same period. The industrial added value of textile enterprises above designated size increased by 4.4% year-on-year, a growth rate of 5.6 percentage points higher than that of the previous year. The vast majority of the industrial chain has a good production situation throughout the year, and the annual industrial added value of chemical fiber, wool spinning, filament weaving, industrial textiles and other industries has achieved rapid year-on-year growth. Among the 15 textile categories counted by the National Bureau of Statistics, the output of 10 major categories, such as chemical fibers, yarn, printed and dyed fabrics, and clothing, achieved positive growth year-on-year.
The efficiency level of the textile industry has been continuously repaired. In 2024, the operating income of 38,000 textile enterprises above designated size increased by 4% year-on-year, a growth rate of 4.8 percentage points higher than that of the previous year; Total profits grew by 7.5% year-on-year, up 0.3 percentage points from the previous year. The operating income of the main links of the textile industry chain has achieved positive growth, and the profit recovery of chemical fiber, flax spinning, printing and dyeing, knitting, industrial textiles, and textile machinery industries is in good condition.
Domestic sales achieved moderate growth, while exports continued to show resilience
In 2024, with the gradual effect of national policies to promote consumption and the continuous innovation of business models to stimulate market vitality, domestic consumption of textile and garment commodities in China has achieved moderate growth, but affected by the macroeconomic slowdown, the growth rate of various domestic sales indicators has slowed down compared with the previous year. In the whole year, the per capita clothing consumption expenditure of Chinese residents increased by 2.8% year-on-year; The total retail sales of clothing, shoes, hats and textile products above designated size increased by 0.3%, 12.6 percentage points lower than that of the previous year. Online retail sales of clothing products increased by 1.5% year-on-year, down 9.3 percentage points from the previous year.
In 2024, the international market demand is generally weak, the trade environment risks are high, and the foreign trade situation of the textile industry is more severe, but China's textile industry continues to deepen the transformation and upgrading of foreign trade, and the international competitiveness is steadily released, and exports achieve positive growth throughout the year. Among them, due to concerns about the risks of the Sino-US trade environment, some enterprises "grabbed exports" in the fourth quarter, leading to faster export growth in the quarter. According to China Customs Express data, in 2024, China's textile and apparel exports totaled 301.1 billion US dollars, an increase of 2.8%. Among them, textile exports were 141.96 billion US dollars, an increase of 5.7%, and clothing exports were 159.14 billion US dollars, an increase of 0.3%. China's textile and garment exports to the main markets are generally good, but the performance is differentiated, and the export growth trend is good for major trading partners such as the United States, the European Union, and ASEAN, and the export growth is negative for Japan, Turkey, Russia and other markets.
The quality of operation has improved, and confidence in development has been more consolidated
In 2024, the quality of operation of the textile industry continued to improve. The operating income profit margin of textile enterprises above designated size was 3.9%, 0.1 percentage points higher than that of the previous year; The turnover rate of total assets accelerated by 0.6% year-on-year, and the proportion of three expenses decreased slightly to 6.5%, all showing a trend of repair and improvement.
Textile enterprises further promote transformation and upgrading, actively implement large-scale equipment update policy requirements, and drive the steady expansion of high-end, intelligent, and green investment. In 2024, the completed fixed asset investment in the textile industry, clothing industry and chemical fiber industry (excluding rural households) increased by 15.6%, 18% and 4.7%, respectively, with growth rates accelerating by 16, 20.2 and 14.5 percentage points over the previous year.
Under the situation of steady improvement in production and marketing and efficiency, the development confidence and expectations of textile enterprises have gradually consolidated, and the overall prosperity of the industry has remained in the expansion range. According to the survey of the China Textile Industry Federation, in the fourth quarter of 2024, the comprehensive prosperity index of China's textile industry was 59.5%, an increase of 2.3 and 6.8 percentage points over the same period of last year and the third quarter, respectively, and the eighth consecutive quarter is above the line of growth and contraction.
Development opportunities and challenges coexist, ushering in a new stage of high-quality development
The year 2025 is the end of the "14th Five-Year Plan" and the key year for planning the "15th Five-Year Plan" development, although the external situation is highly complex, the textile industry is still in a strategic opportunity period with opportunities and challenges. On the one hand, the global economy and terminal consumption growth is weak, the risk of trade friction is frequent, the layout of the international textile supply chain is deeply adjusted, and there are still many uncertain and unstable factors. Difficulties and challenges such as insufficient domestic effective demand, intensified market competition, and greater pressure on enterprises to operate still depend on the industry to resolve by deepening supply-side reform and promoting high-quality development. On the other hand, in the long-term improvement of China's macroeconomic fundamentals, the release of the "ballast stone" role of the super-large domestic market, the coordination of macro stock increment policies, providing a stable cornerstone for the textile industry to accelerate the upgrading and development, the industry has the conditions to grasp the strategic opportunities such as industrial scientific and technological innovation, domestic demand and high-level integration of international resources, focusing on science and technology, fashion, green and health. We will accelerate the formation of new potential energy for high-tech, high-efficiency and high-quality industries, and push the construction of a modern industrial system to a new level.
The textile industry will fully and deeply implement the spirit of the 20th Party Congress and the second and Third Plenary sessions of the 20th Central Committee and the relevant decisions and arrangements of the Central Economic Work Conference, take high-quality development as the guide, adhere to comprehensively deepening reform, fully transform the effect of supply-side reform into the potential release of the demand side, enhance the internal driving force, effectively control and reduce external risks, and steadily promote the construction of a modern industrial system. To build a solid foundation for the high-quality completion of the "14th Five-Year Plan" national economic and social development goals and tasks, to achieve the "15th Five-Year Plan" good start.
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