High inflation impacts: The EU and Japan see a decrease in clothing imports from China.

Macro According to Eurostat data, the Eurozone's consumer price index rose 2.9% year-on-year in October, down from 4.3% in September, reaching its lowest level in more than two years. The Eurozone's GDP fell by 0.1% quarter-on-quarter in the third quarter, while the EU's GDP grew by 0.1% quarter-on-quarter. The biggest weakness in the European economy is its largest economy, Germany, whose economic output shrank by 0.1% in the third quarter. Its GDP has barely grown in a year and faces a real possibility of recession.
Retail Eurostat data shows that retail sales in the Eurozone fell by 1.2% month-on-month in August. Online retail sales fell by 4.5%, fuel sales at petrol stations fell by 3%, food, beverage and tobacco sales fell by 1.2%, and non-food sales fell by 0.9%. High inflation continues to curb consumer purchasing power.
Import From January to August, the EU imported $64.58 billion worth of clothing, down 11.3% year-on-year.
$17.73 billion was imported from China, down 16.3% year-on-year; accounting for 27.5%, a decrease of 1.6 percentage points year-on-year.
$13.4 billion was imported from Bangladesh, down 13.6% year-on-year; accounting for 20.8%, a decrease of 0.5 percentage points year-on-year.
$7.43 billion was imported from Turkey, down 11.5% year-on-year; accounting for 11.5%, remaining unchanged year-on-year.
 
Macro A survey by Japan's Ministry of Internal Affairs and Communications shows that due to persistent inflation, the real income of salaried households has declined. After adjusting for inflation, actual household consumption in Japan fell year-on-year for the sixth consecutive month in August. The average expenditure for households with two or more people in August was approximately 293,200 yen, a real decrease of 2.5% year-on-year. In terms of actual expenditure, spending in 7 out of 10 major consumption categories in the survey declined year-on-year. Spending on food decreased year-on-year for the 11th consecutive month, being the main factor dragging down consumption. The survey also shows that the average income of salaried households with two or more people decreased by 6.9% year-on-year in August after adjusting for inflation. Experts believe that it is difficult to expect an increase in actual consumption when the real income of households continues to decline.
Retail From January to August, Japan's textile and apparel retail sales totaled 5.5 trillion yen, up 0.9% year-on-year, but down 22.8% compared to the same period before the pandemic. In August alone, Japan's textile and apparel retail sales reached 591 billion yen, up 0.5% year-on-year.
Import From January to August, Japan imported $19.37 billion worth of clothing, down 3.2% year-on-year.
$10 billion was imported from China, down 9.3% year-on-year; accounting for 51.6%, a decrease of 3.5 percentage points year-on-year.
$3.17 billion was imported from Vietnam, up 5.3% year-on-year; accounting for 16.4%, an increase of 1.3 percentage points year-on-year.
$0.97 billion was imported from Bangladesh, down 5.3% year-on-year; accounting for 5%, a decrease of 0.1 percentage points year-on-year.

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US clothing imports from China significantly decreased from January to September 2023.

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China's clothing exports in October 2023 saw a significant month-on-month decrease.

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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