US clothing retail sales saw a month-over-month increase in December 2023

According to data from the US Department of Commerce, US retail sales increased by 0.6% month-over-month in December, and the year-on-year growth rate rebounded by 1.6 percentage points to 5.6%, mainly driven by increased Christmas consumption. In terms of categories, furniture/home furnishing consumption fell significantly, with the month-on-month growth rate falling by 3.4 percentage points to -1%, while non-durable goods consumption, such as online retail and clothing stores, continued to improve, with a month-on-month increase of 1.5%. The December retail sales data shows new signs of US economic growth at the end of 2023, highlighting the strong resilience of consumer spending.
Clothing and accessories stores: Retail sales in December were $26.61 billion, up 1.5% month-over-month and up 4.3% year-over-year.
Furniture and home furnishing stores: Retail sales in December were $10.78 billion, down 1% month-over-month and down 4.7% year-over-year, with the rate of decline narrowing by 2.6 percentage points compared to the previous month.
General merchandise stores (including supermarkets and department stores): Retail sales in December were $74.03 billion, up 1.3% from the previous month and up 3.3% year-over-year. Department store retail sales were $10.93 billion, up 3% month-over-month and down 2.7% year-over-year.
Non-store retailers: Retail sales in December were $120.5 billion, up 1.5% month-over-month and up 9.7% year-over-year.
In November, the inventory-to-sales ratio for clothing and accessories stores in the US was 2.34, down 1.7% from the previous month; the inventory-to-sales ratio for furniture, home furnishings and electronics stores was 1.52, down 2.6% from the previous month.
In the second half of 2023, the sales growth rate of manufacturing, wholesale, and retail in the United States all rebounded from the bottom and entered the passive destocking stage, with the fastest rebound in sales growth among clothing wholesalers. This year, the growth rate of US clothing PPI is expected to rebound, coupled with the faster progress of destocking of clothing in the US retail market and the stabilization of demand, China's clothing exports to the US are expected to continue to improve.

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China's textile and apparel exports saw a month-on-month improvement in December 2023

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2023 clothing retail sales year-on-year growth

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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