Vietnam and Bangladesh export growth recovered in January and February 2024

Developed countries see a general decrease in imports
In the first two months of the year, clothing imports continued to weaken in developed economies such as the US, Canada, Europe, the UK, and Japan, while imports in Australia and South Korea saw slight growth. In the first two months, US clothing imports totaled US\$14.1 billion, a year-on-year decrease of 6.5%. EU imports totaled US\$14.32 billion, down 14.3% year-on-year. UK imports were US\$3.01 billion, down 15.1%. Canadian imports were US\$1.74 billion, down 13.6%. Japanese imports reached US\$4.09 billion, down 1.1%. Australian imports totaled US\$1.63 billion, up 1.3%. South Korean imports amounted to US\$2.12 billion, up 0.9% year-on-year. US monthly clothing imports have seen negative growth for 16 consecutive months; however, in February this year, US clothing imports returned to positive growth, with a year-on-year increase of 3.6%.
Vietnam and Bangladesh see export growth recovery
According to data from the General Statistics Office of Vietnam's Ministry of Planning and Investment, Vietnam's textile and garment exports increased by 7.9% year-on-year in the first quarter. According to data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), in the first two months, Bangladesh exported US\$9.47 billion worth of ready-made garments, a year-on-year increase of 13.2%. In January, India exported US\$1.51 billion, down 3% year-on-year; Turkey exported US\$1.41 billion worth of clothing, down 9.8% year-on-year. In the first two months, Indonesia exported US\$1.46 billion worth of clothing, up 4.4% year-on-year.

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US apparel retail sales fell month-over-month

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Japanese clothing imports decreased in January and February 2024.

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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