Global manufacturing PMI continued to rise in January 2025

On February 6, the China Federation of Logistics and Purchasing released data showing that the global manufacturing PMI in January 2025 was 50%, up 0.5 percentage points from December 2024, marking a slight increase for three consecutive months.
Wu Wei, an analyst at the China Logistics Information Center, told the Securities Daily that the stable start of the global manufacturing industry laid a good foundation for the steady upward trend of the global economy in 2025, and major international institutions maintain their expectations for stable global economic operation in 2025. The International Monetary Fund's latest World Economic Outlook report predicts that global economic growth will reach 3.3% in 2025, 0.1 percentage points higher than the forecast in October 2024. The United Nations' report, "World Economic Situation and Prospects 2025," predicts that global economic growth will remain at 2.8% in 2025, unchanged from 2024.
By region, in January, the Asian manufacturing PMI was 50.7%, down 0.4 percentage points from December 2024. Although it has slightly fallen back, it has remained above 50% for 13 consecutive months.
"Data changes show that the growth rate of Asian manufacturing has slowed down, but it still maintains an expansionary trend, and the recovery momentum remains relatively stable. The stable development of the Chinese economy remains an important cornerstone of the stability of the Asian economy." Wu Wei analyzed that the accelerated implementation of a series of incremental policies in China has a positive significance for the stable recovery of the Chinese economy and even the global economy.
It is worth noting that in January, the American manufacturing PMI was 50.9%, ending nine consecutive months below 50%. In Wu Wei's view, the accelerated recovery of the US manufacturing industry provided a basis for the Federal Reserve to slow down its pace of interest rate cuts. The Federal Reserve's recent meeting decided to maintain the target range for the federal funds rate at 4.25% to 4.5%.
In January, the European and African manufacturing PMIs rose and fell respectively compared to December 2024, both remaining below 50%. The European manufacturing PMI was 47.8%, up 1 percentage point from December 2024; the African manufacturing PMI was 49.4%, down 0.8 percentage points from December 2024.
Wu Wei said that from the perspective of the overall economic recovery in Europe, the impact of energy dependence on Europe still exists. In order to accelerate the recovery process of the European economy, the European Central Bank chose to continue cutting interest rates, lowering rates for the fifth time since last June. The impact of continued interest rate cuts on the European economy remains to be seen. Uncertainties in the global trade situation will also affect Europe's economic recovery. In Wu Wei's view, three major problems—insufficient endogenous demand, intensified geopolitical conflicts, and trade frictions—will accompany the global economic recovery. Without technological development generating a large number of innovative demands, the recovery of endogenous demand in the global market will still take time; there are no signs of significant improvement in geopolitical conflicts in some regions, and the disturbances to global economic recovery will continue; trade frictions, mainly in the form of additional tariffs, will bring uncertainty to global economic recovery in 2025. At the same time, more and more countries recognize the importance of strengthening regional cooperation in maintaining the resilience of economic recovery. The game between the two economic ideas of confrontation and cooperation will also continue to collide in 2025, affecting the direction of global economic recovery.

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China's home textile exports maintained an upward trend in 2024

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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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