In July 2024, the decline in China's domestic sales and exports of clothing deepened.

In July, impacted by extreme weather and falling export prices, the decline in both domestic and export sales of China's apparel industry deepened. However, positive factors such as the summer economy, increased demand for sportswear, and growth in export volume supported the steady recovery of major indicators such as industrial production, investment, and profits. In the next stage, with the change of seasons for autumn and winter clothing and the stimulation of consumer demand from events like "Double Eleven", domestic sales are expected to gradually stabilize. However, it is also important to note that domestic market demand remains insufficient, the growth of external demand is not stable, and geopolitical situations, trade frictions, and exchange rate fluctuations are increasing uncertainties and instability, highlighting downward pressure on exports. The stable recovery of the industry's economy still faces multiple risks and challenges.
According to the National Bureau of Statistics, from January to July 2024, the industrial added value of China's clothing industry's large-scale enterprises was flat compared to the same period last year, with growth rate increasing by 0.6 percentage points compared to the first six months; the output of clothing from large-scale enterprises reached 11.644 billion pieces, a year-on-year increase of 4.49%, with the growth rate accelerating by 0.07 percentage points compared to the first six months.
According to the National Bureau of Statistics, from January to July 2024, China's total retail sales of consumer goods reached 27,372.59 billion yuan, a year-on-year increase of 3.5%, with the growth rate slowing down by 0.2 percentage points compared to the first six months. Among them, the cumulative retail sales of clothing from above-scale units reached 581.88 billion yuan, a year-on-year increase of 0.1%, with the growth rate slowing by 0.7 percentage points compared to the first six months. In July, the year-on-year decrease in retail sales of clothing from above-scale units was 5.6%, expanding by 3.4 percentage points compared to June.
According to the National Bureau of Statistics, from January to July 2024, the online retail sales of physical goods reached 7,009.3 billion yuan, a year-on-year increase of 8.7%. Among them, the online retail sales of clothing increased by 6.3% year-on-year, slowing by 0.7 percentage points compared to the first six months.
According to data from China Customs, from January to July 2024, China's cumulative exports of clothing and clothing accessories reached US$88.98 billion, a year-on-year decrease of 0.8%, with the growth rate falling by 0.8 percentage points compared to the first six months. In July, clothing exports amounted to US$15.25 billion, a year-on-year decrease of 3.6%, expanding by 3 percentage points compared to June.

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China's clothing volume increased while prices fell from January to July 2024

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China's home textile product exports increased year-on-year from January to July 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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