China's fabric exports in August 2023 decreased year-on-year

According to Chinese customs statistics, in August 2023, China's total import and export value of fabrics was US\$5.78 billion, a year-on-year decrease of 6.9%. Exports totaled US\$5.55 billion, down 6.1% year-on-year; imports were US\$0.23 billion, down 21.3% year-on-year. August exports showed some recovery under the influence of intensified domestic economic policies, a slower base, and currency devaluation. The decline in fabric exports that month narrowed slightly compared to the previous period.
 
The "near-shoring" and "friend-shoring" trends in the US and the West are clearly evident, reducing our intermediate goods exports.
 
Due to political and supply chain security considerations, both the US and Europe have accelerated the "three-shore diversification", especially the speed of friend-shoring and near-shoring outsourcing, accelerating "de-Chinaization." This not only affects the end-use clothing products but also further reduces the export of our textile intermediate products. In order to prevent the "transfer effect" of exports from China to Southeast Asia, the US has also reduced orders from Southeast Asian countries such as Vietnam. Vietnam's exports to the US have also fallen sharply, with cumulative imports from Vietnam down 25.3% in the first seven months, exceeding the average decline in US imports globally (22.7%). Therefore, our exports of yarn and fabrics to Southeast Asia have also slowed down, with a 15.5% decrease in exports from January to August.
 
The rate of decline in export prices exceeded the rate of decline in quantity, and the rise in bulk commodity prices has impacted industry profits.
 
From January to August, exports of yarn and fabrics decreased by 11.3% and 11.5% respectively. Prices fell by 20.2% and 8.4% respectively, with export prices showing a continuous decline, which is the main factor dragging down exports.
 
Recently, international bulk commodity prices have rebounded. Rising crude oil prices have led to higher prices in the industrial chain. With rising cotton demand and expectations of reduced production due to unfavorable weather, domestic cotton prices have shown a clear upward trend, repeatedly hitting new annual highs. For textile and apparel products, rising import prices of upstream raw materials generally do not quickly pass through to the downstream, which will further squeeze the profits of textile and apparel companies.
 
From January to August 2023, the total import and export value of fabrics nationwide was US\$44.98 billion, down 11.8% year-on-year. Of this, exports were US\$43.16 billion, down 11.5% year-on-year; imports were US\$1.81 billion, down 19% year-on-year. China's fabric trade is mainly export-oriented, accounting for nearly 90%. In recent years, with the continuous improvement of China's independent R\&D capabilities, some high-end fabrics previously monopolized by Europe, America, and Japan have been independently produced, and China's fabric imports have been declining year by year.

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China's cotton yarn imports increased significantly in August 2023

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EU and Japan clothing imports decreased year-on-year from January to July 2023

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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