I. The macroeconomic recovery continued to improve

Since 2024, global economic activity has operated in anticipation of a slowdown, and the economic foundation has become solid. The effect of national macro policies continues to be released, and the gradual recovery of domestic and foreign market demand has played a role in guaranteeing the smooth operation of China's home textile industry, and the Shanghai Home Expo has been steadily developed. According to the National Bureau of Statistics, the total retail sales of social goods in the first five months of the year increased by 4.1%. Textile industry, including home textile fixed assets investment completed cumulative increase of 13.4%, an increase of 17 percentage points over the same period last year; The industrial added value of the textile industry (including home textile manufacturing industry) increased by 5.3% year-on-year, an increase of 8.3 percentage points over the previous year; The operating income of home textile enterprises above designated size increased by 3.93% year-on-year, which gradually expanded from the first few months of this year.

II. The domestic demand market of the industry has made steady progress

In terms of the domestic market, under the joint support of the national consumption policy, residents' income and consumer confidence have gradually stabilized, and new consumption highlights such as "big health" and "sleep aid" have gradually expanded their influence, and the Shanghai Home Expo has been generally stable and improving, attracting furniture consumers from home and abroad to visit. According to data from the National Bureau of Statistics, from January to May, the domestic sales output value of home textile enterprises above designated size increased by 3.62% year-on-year, and the growth rate further increased from the first four months. According to the statistics of more than 260 home textile sample enterprises, the proportion of domestic sales growth and flat in January to May was 67.69%, of which 48.46% were enterprises with year-on-year growth; Enterprises that remained flat accounted for 9.23%, and the domestic sales output value of enterprises increased by 9.16%.

From January to May, the domestic sales of the three major sub-industries of bedding, fabric and towels maintained a positive growth trend, especially the domestic sales of the fabric industry increased relatively high. According to the data of the National Bureau of Statistics, from January to May this year, the domestic sales output value of cloth enterprises above designated size increased by 11.55%, which is higher than that of other major sub-industries. The 91 fabric sample enterprises tracked by the association also show this point, and the domestic sales output value from January to May increased by 19.32% year-on-year, of which 80.2% of the domestic sales output value of the enterprise achieved positive growth.

Ⅲ. Industrial exports grew

Entering 2024, with the improvement of the global economy, while China continues to promote a series of stable foreign trade policies, China's home textile exports show a warming trend. According to customs data, from January to May, China's exports of home textiles were 18.637 billion US dollars, an increase of 3.11%, of which exports in May were 11.3% year-on-year growth.

Ⅳ. Adjust the industrial structure and develop new quality productive forces

Since the beginning of this year, the home textile industry has continuously adjusted the industrial structure, and the quality effect level of the industry has been continuously improved. According to data from the National Bureau of Statistics, the profit margin of home textile enterprises above designated size from January to May was 3.60%, which showed a rising trend compared with the first few months of this year. The home textile industry continues to explore new scientific and technological highlights, improve the level of automation and digitalization of the industry, and ensure the sustainable and healthy development of the industry and the more optimized allocation and utilization of resources by continuously improving the quality and efficiency of the industry, so that the new quality productivity can meet the changing market demand.

If you want to learn more about the food industry, please visit the Shanghai Home Expo website to learn more.

Source: Zhongjia Textile (public number)

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