Growth in bedding exports in the first half of 2024, decline in towel exports

Entering 2024, with the global economy showing some improvement and China continuing to implement a series of policies to stabilize foreign trade, China's textile exports have shown signs of warming, reversing the negative growth of the previous year. According to customs data, in the first half of 2024, China exported US$22.99 billion worth of home textiles, a year-on-year increase of 4.41%. Since May, monthly exports have seen double-digit year-on-year growth: 11.3% in May and 10.42% in June.
In the first half of the year, China's exports of bedding, upholstery, carpets, blankets, and textile products for the kitchen and dining room saw growth. Specifically, exports of bedding reached US$7.342 billion, a year-on-year increase of 5.29%; upholstery exports reached US$8.422 billion, a year-on-year increase of 5.14%; carpet exports reached US$2.125 billion, a year-on-year increase of 8.11%; exports of textile products for the kitchen and dining room reached US$2.024 billion, a year-on-year increase of 10.21%; and blanket exports reached US$1.575 billion, a year-on-year increase of 0.27%.
Towel exports continued to decline, and the decline further widened. In the first half of the year, China exported US$1.088 billion worth of towels, a year-on-year decrease of 13.28%. Major export markets performed poorly, with exports to ASEAN markets falling by 28.94%, to the EU by 7.75%, and to Japan by 11.83%.
There are several reasons for the weakening of towel exports: Firstly, intense international competition. Over 90% of the towel products in the statistics are cotton, and due to trade barriers and fierce competition from major cotton-producing countries such as India and Pakistan, China's export advantage in cotton towels is gradually weakening. Secondly, the market demand for more convenient and cost-effective microfiber and cotton soft towels and other wiping products is increasing. The association's statistics show that the growth of washroom and kitchen textiles and wiping products such as floor cloths, dishcloths, and cleaning cloths, mainly made of chemical fibers, has been significant in recent years and continues to grow. Since 2022, the export value of these two categories has surpassed that of towels and continues to widen the gap. In the first half of the year, China exported a total of US$1.616 billion of these two types of products, a year-on-year increase of 10.17%.
At the same time, the overall trend of kitchen and dining textile products, which include washroom and kitchen textiles and wiping products, is positive.
In the traditional markets of the US, Europe, and Japan, the US and EU markets continued the growth trend from the second half of 2023, with a significant recovery. From January to June this year, China's exports of home textiles to the US market reached US$5.36 billion, a year-on-year increase of 12.06%; exports to the EU market reached US$3.004 billion, a year-on-year increase of 6.82%. However, the Japanese market lacked growth momentum. In the first half of the year, China's exports of home textiles to the Japanese market reached US$1.242 billion, a year-on-year decrease of 2.89%, but the decline narrowed compared to the same period in 2023, narrowing by 8.13 percentage points.
Exports to markets along the Belt and Road Initiative remained stable. In the first half of the year, China exported a total of US$9.208 billion worth of home textiles to markets along the Belt and Road, a year-on-year increase of 2.27%. Of this, exports to ASEAN markets reached US$4.341 billion, a year-on-year increase of 6.47%. It is worth noting that the growth in the ASEAN market was supported by exports of fabrics and accessories, while exports of finished home textile products actually narrowed. In the first half of the year, China's exports of finished home textile products to ASEAN markets reached US$2.238 billion, a year-on-year decrease of 1.74%.
Zhejiang, Jiangsu, Shandong, Guangdong, and Shanghai are the top five ports for home textile exports in China. In the first half of the year, exports from these ports remained stable and improved, with all five ports seeing an increase in home textile exports. Among them, the year-on-year growth rates of home textile exports from Zhejiang and Jiangsu ports were 6.39% and 8.12% respectively, higher than the average growth rate. In addition, Fujian and Xinjiang ports continued to grow at a high level. In the first half of the year, Fujian port exported US$771 million worth of home textiles, a year-on-year increase of 48.95%, and Xinjiang port exported US$553 million, a year-on-year increase of 32.36%.

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The home textile industry's domestic market saw steady growth in the first half of 2024.

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Growth in exports of Chinese sewing machinery products in the first half of 2024 compared to the same period in the previous year

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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