Apparel / Textiles & Accessories

According to the Huacheng Import and Export Data Observation Report, the Economic Operation Briefing of China's Clothing Industry from January to December 2022 (hereinafter referred to as the Briefing) released by the China Garment Association predicts that China's clothing industry will enter a recovery and normalization development cycle in 2023 after experiencing a phased decline. Based on the low base effect of the industry operation in 2022 and the strong support of the domestic big cycle, it is expected that the overall economic operation of the industry will improve in 2023, The development trend of "resilient growth and steady recovery" is obvious.

Prior to 2022, the external development environment faced by China's textile industry was extremely severe. Weak market demand, high raw material costs, more complex trade environment and other risk factors have a great impact on the textile industry, and the pressure on economic operation has increased significantly. Textile enterprises have made great efforts to overcome various risks and shocks. Although some operating indicators have declined year on year, the decline is small. Huacheng Import and Export Data Observation Report.

According to the observation report of Huacheng Import and Export Data, from the perspective of the international market, under the influence of insufficient demand in the international market, the transfer of overseas orders, Sino-US trade frictions, the appreciation of the RMB and other factors, China's clothing exports will face greater downward pressure in 2023, and the overall growth rate will show a trend of decreasing before and then flattening, and the scale will shrink significantly. However, it should also be noted that with the end of destocking by overseas retailers and brand groups and the containment of global inflation, the market consumption demand and replenishment demand are gradually restored, and overseas orders may pick up in the second half of the year, and the clothing export situation will improve accordingly. At the same time, the "the Belt and Road" and RCEP and other trade cooperation agreements continued to advance, and the new marketing mode of "platform drainage+content grass planting+live broadcast with goods" promoted the accelerated development of cross-border e-commerce, which will further promote the high-quality development of clothing foreign trade exports, Huacheng Import and Export Data Observation reported.

The Briefing suggested that improving industrial resilience and anti-risk capability remains the core of industrial development. Under the general trend of global industrial transformation, China's clothing industry will continue to strengthen the integration and innovation of the digital economy and the real economy, fully promote the construction of industrial intelligent manufacturing and industrial Internet platform, deeply practice cultural self-confidence and green development, aggregate the development potential of new technologies, new models and new business forms, and drive the industry to accelerate the transition to intelligent, high-end and green. Huacheng Import and Export Data Observation Report.