China accounts for a significant share of global clothing production.
Global annual clothing production capacity exceeds 100 billion pieces; the global market size in 2023 reached US$1.74 trillion. High-quality and diverse supply meets the needs of a better life for humanity, and its wide-ranging and multi-layered development creates enormous social and economic value. One in eight global workers is employed in textile and garment-related work. Absorbing employment, increasing income, invigorating markets, and ensuring people's livelihoods, the industry demonstrates its value in poverty reduction efforts in developing countries. Approximately 1900 textile enterprises in Morocco have solidified a job base of 175,000 people; over 4000 garment factories in Bangladesh provide more than 5 million jobs, with garment exports accounting for over 86% of total exports in 2023; the average monthly wage for textile and garment workers in Vietnam has reached US$300, exceeding the world average of US$200. The development of textile industry clusters effectively drives rural revitalization and the development of ethnic minority regions in China.
China's clothing industry serves global development through openness and is a pivotal force. China's annual clothing production exceeds 70 billion pieces, enough to provide about 8.75 garments per person globally; in 2023, exports reached US$165 billion, accounting for 31.64% of the global total. In the face of pressure, the industry showed a recovery trend in 2024. From January to September, the industrial added value of large-scale enterprises grew by 0.4% year-on-year, an increase of 9.2 percentage points compared to the same period in 2023; operating revenue increased by 1.02% year-on-year, an increase of 9.15 percentage points compared to the same period in 2023; total profit decreased by 2.62% year-on-year, a decrease of 4.58 percentage points compared to the same period last year; retail sales of clothing, shoes, hats, and knitted textiles above designated scale increased by 0.2% year-on-year; total clothing exports reached US$118.38 billion, a decrease of 1.3% year-on-year, a decrease of 7.5 percentage points compared to the same period last year. The high-cost-performance intermediate product supply chain and advanced and applicable equipment and technology help build a global industrial ecosystem. In 2023, China's cumulative exports of yarn and fabrics reached US$77.9 billion, 6.7 times the amount in 2001; exports of textile machinery reached US$4.543 billion to 202 countries and regions; exports of industrial sewing machines reached 4.32 million units. The spillover effect of innovation continues to strengthen.
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.
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.
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.
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.
Henan Tongzhou Cotton Industry Co., Ltd.
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Henan Tongzhou Cotton Industry Co., Ltd.
Address: 10th Floor, Henan Nongxin Building, No. 19 Commercial Outer Ring Road, Zhengdong New District,Zhengzhou, China
Tel：86037165836206
Email：tongzhou@tongzhoucotton.com
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