China Printing And Dyeing Industry Association: Analysis On Economic Operation Of Printing And Dyeing Industry From January To July

From January to July of 2022, the production and operation pressure of printing and dyeing industry is still great, and the decline rate of printing and dyeing fabric output of large-scale printing and dyeing enterprises continues to expand, and the output in July reaches a new low since this year; The operation quality has gradually improved, and the main economic indicators such as operating income and total profit have maintained growth, but the growth rate has gradually declined; The export of main printing and dyeing products maintained a good growth trend, with a slight increase compared with the first half of the year. On the whole, the printing and dyeing industry is still showing a steady growth of external demand, and the recovery of domestic demand lags behind. How to effectively activate the domestic demand market and gradually release the consumption potential of domestic demand is an important issue to be solved in the smooth operation of the industry economy.

　　 Production fell down on a month on month basis, and production recovery slowed down

According to the data of the National Bureau of statistics, from January to July 2022, the output of printing and dyeing fabrics of Enterprises above designated scale in the printing and dyeing industry will be 31.425 billion meters, a year-on-year decrease of 6.83%, and a decrease of 1.31 percentage points compared with the first half of the year. The output of printing and dyeing enterprises fell back by more than 85% in the month, and the output of the printing and dyeing industry slowed down again compared with that of the printing and dyeing industry for two consecutive months. Under the influence of the epidemic situation, it is difficult for residents to increase their employment and income, and their consumption ability and consumption level have declined significantly, especially the demand for durable consumer goods of textiles and clothing. According to the data of the National Bureau of statistics, from January to July, the retail sales of clothing, shoes, hats, needles and textiles above the national quota decreased by 5.6% year-on-year, and the growth rate dropped by 35.4% compared with the same period of last year. The weak terminal demand leads to the lack of orders of upstream printing and dyeing enterprises, and the utilization rate of production capacity is not high.

Figure 1 printing and dyeing fabric output of Enterprises above Designated Size from January to July 2022

Source: National Bureau of statistics

The operation quality was gradually improved Improving the efficiency of production and marketing convergence

According to the data of the National Bureau of statistics, from January to July 2022, the proportion of three fees of printing and dyeing enterprises above the designated scale is 6.39%, which is 0.54% lower than that of the previous year. Among them, cotton printing and dyeing enterprises are 6.19% and chemical fiber printing and dyeing enterprises are 7.76%; The turnover rate of finished products was 17.21 times / year, with a year-on-year slowdown of 2.36%; The turnover rate of accounts receivable was 8.67 times / year, with a year-on-year increase of 1.08%; The turnover rate of total assets was 1.03 times / year, with a year-on-year increase of 2.42%. Compared with the first half of the year, the turnover rate of finished products of the printing and dyeing industry increased slightly by 0.03 times / year from January to July, and the decline rate was narrowed by 2.94 percentage points, indicating that the industry's production and marketing convergence efficiency is gradually recovering.

Table 1 main operation quality indexes of printing and dyeing enterprises above Designated Size from January to July 2022

　　 The main economic indicators maintained growth and the growth rate dropped

According to the data of the National Bureau of statistics, from January to July 2022, the business income of printing and dyeing enterprises above Designated Size reached 177.429 billion yuan, a year-on-year increase of 10.52%, and the growth rate dropped by 0.58 percentage points compared with the first half of the year; The total profit was 6.875 billion yuan, with a year-on-year increase of 10.07%, and the growth rate was 3.72 percentage points lower than that in the first half of the year; The profit margin of costs and expenses was 4.12%, which was 0.01 percentage points lower than that of the previous year; The profit margin of sales was 3.88%, down 0.01% year on year; The export delivery value was 23.242 billion yuan, up 8.74% year on year. 570 of the 1699 printing and dyeing enterprises above Designated Size suffered losses, accounting for 33.55%, 1.60 percentage points lower than that in the first half of the year; The total loss of loss making enterprises was 1.984 billion yuan, with a year-on-year increase of 51.29%.

In the first seven months, although the business income and total profit of printing and dyeing enterprises above the designated scale have achieved positive growth, the growth rate of the whole year-on-year shows a downward trend; However, most of the enterprises are still suffering from losses, and some of them are still suffering from large losses.

Figure 2 Changes of main economic benefit indexes of printing and dyeing industry from January to July in 2022

Source: National Bureau of statistics

　　 The foreign trade situation remained good and the export growth rate increased

According to the statistical data of China Customs, from January to July 2022, the export volume of eight categories of printing and dyeing products was 17.693 billion meters, with a year-on-year increase of 11.72%, 1.91 percentage points higher than the first half of the year; The export volume reached US $18.707 billion, up 20.00% year on year, 1.36 percentage points higher than that in the first half of the year; The average export unit price was 1.06 USD / m, up 7.42% year on year. Since the beginning of this year, although the external environmental risks and challenges have increased, the demand for China's printing and dyeing products in the international market is relatively stable, especially the demand for synthetic filament fabrics. From January to July, the export volume of synthetic filament fabrics increased by 20.79% year-on-year, which is the main reason for the rapid growth of foreign trade in printing and dyeing industry.

Figure 3 export of eight categories of printing and dyeing products in China from January to July 2022

Source: China Customs

On the whole, the printing and dyeing industry is still facing many risks and challenges. The high operating costs and insufficient production orders are still the biggest difficulties faced by the industry. In addition, uncertain factors such as epidemic situation, geopolitics, trade environment and exchange rate fluctuations further increase international trade risks. However, we should also see that positive factors in the development of the industry are constantly accumulating. Under the guidance of the consumption promotion policy, domestic demand consumption shows signs of gradual recovery. At the national level, the financial policy should be strengthened to support the manufacturing industry. At the same time, efforts should be made to stabilize foreign trade policies and measures to provide important support for the recovery of the industrial economy. In the next step, printing and dyeing enterprises should pay close attention to the changes of international situation and trade environment, take market demand as the guidance, constantly optimize production and operation mode, actively expand product diversification market, and continuously improve enterprise development efficiency and market competitiveness.