China's textile and apparel exports remain weak.

Intermediate goods imports and exports maintained growth from January to April.
This growth was driven by factors such as the increasing effectiveness of steady foreign trade policies, overseas importers entering a restocking cycle, increased order quantities, and a lower year-on-year base. Both intermediate goods imports and exports saw growth.
In terms of overall yarn and fabric exports, from January to April 2024, China's yarn and fabric exports totaled US$25.67 billion, a year-on-year increase of 0.8%. Looking at specific products, yarn exports were US$4.52 billion, down 4.7% year-on-year, while fabric exports were US$21.15 billion, up 2.1% year-on-year.
Regarding imports, China's intermediate goods imports increased significantly. From January to April, yarn and fabric imports totaled US$2.74 billion, a year-on-year increase of 15.1%, mainly driven by yarn imports. Specifically, yarn imports were US$1.89 billion, up 21.8% year-on-year, and fabric imports were US$0.85 billion, up 2.6% year-on-year.
In April, the decline in intermediate goods exports narrowed, while imports increased.
In terms of exports, textile and garment exports failed to continue the growth trend of the previous two months. In April, China's intermediate goods exports were US$7.2 billion, down 1.6% year-on-year, a narrower decline compared to March. Yarn exports were US$1.23 billion, down 0.8% year-on-year, and fabric exports were US$5.97 billion, down 1.7% year-on-year.
In terms of imports, in April, China's intermediate goods imports were US$0.71 billion, up 4.9% year-on-year. Yarn imports were US$0.46 billion, up 2.2% year-on-year, and fabric imports were US$0.25 billion, up 10.4% year-on-year.
Weak External Demand
In May 2024, China's Manufacturing Purchasing Managers' Index (PMI) was 49.5%, down 0.9 percentage points from the previous month, falling below the boom-bust line for the second time in two months. This month-on-month value is significantly lower than the -0.1% of the same period in 2016-2019, indicating that the contraction in manufacturing this month experienced some above-seasonal pressure.
In May, due to the impact of the May Day holiday and the concentrated release of demand in some markets before the holiday, and the geopolitical conflict's ongoing impact on international supply chains and foreign trade, both domestic and international market demand was weak. The new orders index was 49.6%, down 1.5 percentage points from the previous month; the new export orders index was 48.3%, down 2.3 percentage points from the previous month.
Company orders significantly increased compared to the same period last year, mainly small and short orders, export regions are fragmented.
Surveys show that orders for businesses at the 135th Canton Fair were significantly higher than in the same period last year, increasing by 10-20%, mainly due to rigid restocking demand from the US and European markets and the base effect, but overall orders are still below pre-pandemic levels.
Post-pandemic, US and European consumption has become more rational, and buyers are cautious about placing orders. Fabric orders are mainly small and short orders, and most companies only have 1-2 months of orders on hand. There are almost no large orders with production cycles exceeding 3 months.
Yarn and fabric exports are showing a decentralized and fragmented trend. Looking at the buyers attending the Canton Fair, they are relatively dispersed. The proportion of European and American customers is less than 10%, but buyers from nearby and friendly countries in Africa, the Middle East, and South America have increased by 25%.

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Exports of household textiles and knitted and woven garments increased in both volume and value from January to April 2024.

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China's clothing exports from January to April 2024 saw a decrease in both volume and price.

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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