International Textile Manufacturers Federation: Business expectations for the next six months have risen significantly.

The ITMF (International Textile Manufacturers' Federation) stated in its latest report that since the ITMF began its global textile industry survey in 2021, textile businesses are now at a new low. High inflation and high interest rates are two major factors affecting the current global economy, but the core issue in the textile supply chain in 2023 is high inventories among brand owners and retailers.
As the global economy recovers from the impact of the pandemic, consumers are now able to spend more than in 2020 and the first half of 2021, resulting in a significant increase in demand, and brand owners and retailers placed large orders to meet future demand. With rising inflation, especially since the Russia-Ukraine conflict, consumer demand for goods has decreased, leading to high inventory levels among suppliers.
According to ITMF's latest textile survey, global textile orders have been declining continuously since November 2021. In January 2023, except for North America and Central America, the order index in other regions and at all stages of the industry was negative. North America and Central America saw order growth for the first time since last summer.
According to the survey, global outstanding orders have steadily declined from 3.1 months in March 2022 to 2.4 months in January 2023. This is mainly due to brand owners and retailers refusing to place orders, while earlier supply chain disruptions further reduced order backlogs, leading to a slight increase in global capacity utilization (primarily driven by fiber producers and spinning mills).
The survey shows a significant increase in business expectations for the next six months, with global respondents generally optimistic about the situation in June 2023. Textile manufacturers' expectations are more positive, due to two factors: Firstly, the current global energy situation has significantly improved, with the mild European winter and the easing of energy prices (especially natural gas) in Europe and Asia having fallen back to pre-Russia-Ukraine conflict levels; secondly, China's optimized epidemic prevention and control policies and the opening of its borders have increased domestic and import demand in China. All else being equal, the global economy will see higher-than-expected growth, which will benefit the global textile industry.

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In 2022, both the production and export of garments in Guangdong Province decreased.

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China's cotton garment exports fell sharply in December 2022

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.

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Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
Tongzhou Cotton Market Brief, Week 1 of March 2025

Tongzhou Cotton Market Brief, Week 1 of March 2025

1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.

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Tongzhou Cotton Market Brief, Week 1 of March 2025
In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.

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In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.
President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.

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President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

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