China's exports of yarn and fabrics in March 2024 saw a significant year-on-year decrease.

The growth rate of intermediate goods exports narrowed in the first three months, while imports continued to grow.
From the overall export situation of yarn and fabrics, the export scale of intermediate goods has steadily expanded. In the first three months of 2024, China's yarn and fabric exports reached US$18.47 billion, a year-on-year increase of 1.8%, with the growth rate slowing down. In terms of specific products, yarn exports amounted to US$3.29 billion, down 6% year-on-year, while fabric exports reached US$15.18 billion, up 3.7% year-on-year.
In terms of imports, China's imports of intermediate goods increased significantly. In the first three months, the cumulative imports of yarn and fabrics reached US$2.03 billion, a year-on-year increase of 29.9%, mainly driven by yarn imports. Specifically, yarn imports amounted to US$1.43 billion, a year-on-year increase of 48.3%, while fabric imports amounted to US$600 million, down 0.4% year-on-year.
Intermediate goods exports decreased in March, while imports increased.
In terms of exports, affected by the high base effect, textile and garment exports failed to continue the growth momentum of the previous two months. In March, China's exports of intermediate goods amounted to US$5.73 billion, down 20.1% year-on-year, including yarn exports of US$1.18 billion, down 10.7% year-on-year, and fabric exports of US$4.55 billion, down 22.2% year-on-year.
In terms of imports, in March, China's imports of intermediate goods amounted to US$860 million, a year-on-year increase of 15.1%, including yarn imports of US$610 million, a year-on-year increase of 21.3%, mainly driven by cotton yarn, and fabric imports of US$250 million, a year-on-year increase of 2.1%.
Exports started steadily, but uncertainties remain.
From the trend of intermediate goods exports, the first quarter started steadily, but still faces risks such as uncertain external demand and increasing geopolitical conflicts, and the overall recovery of foreign trade remains uncertain. In addition, enterprises are facing the challenges of fluctuating raw material prices, inability to pass on costs downwards, and declining profits, with overall operating profits in a downward trend. The manufacturing PMI index in April 2024 was 50.4, down 0.4 percentage points from the previous month; among them, the production index increased from the previous month, and the new orders index decreased from the previous month. According to the PMI data, the foundation for China's economic recovery still needs further consolidation. The manufacturing industry still faces problems of insufficient demand and high costs.

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China's export of cotton products decreased from January to March 2023

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China's exports of knitted and woven garments fell sharply in March 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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