China's Textile Industry Will Take The Domestic Market As The Primary Support And Important Foundation in 2019

The central economic work conference held not long ago proposed to "promote the formation of a strong domestic market" as one of the key economic work, which means that the level will pay more attention to and improve the contribution rate of domestic demand to economic growth.

On January 13, the 14th annual meeting of China Textile Roundtable forum was held in Beijing, echoing the spirit of the central economic work conference. The theme of the forum was "strengthening the domestic market and promoting consumption upgrading".

Gao Yong, party secretary and Secretary General of China Textile Industry Federation, said that at present, about 80% of the sales revenue of the whole textile industry chain is realized in the domestic market. The textile industry must further clarify the primary support and important fundamental role of the domestic market, and take the domestic market as the fundamental foothold for the development of the industry.

For a long time, China's textile industry has obvious advantages in international competition and development, and occupies a leading position in the global textile industry. It is not only of production scale, but also of complete industrial chain and complete categories. Changjiang huiceng of China Textile Import and Export Chamber of Commerce said that China's status as the world's largest textile exporter will not be overturned within a decade.

But even so, meeting the domestic market demand is still the main driving force for the development of China's textile industry. According to the data disclosed by China Textile Industry Federation, from 2011 to 2017, the average annual growth rate of retail sales of clothing, shoes, hats and knitwear above the national quota reached 13.8%, while the total export volume of textiles and clothing increased by only 3.8% in the same period. Among them, in 2018, the domestic market of textiles and clothing showed a steady growth trend, which was better than the level of the previous two years, supporting the overall stable operation of the textile industry.

Gao Yong said that a strong domestic market is not only the foundation for stabilizing the development of textile economy and the foundation for expanding opening to the outside world, but also conducive to promoting the textile industry to more effectively participate in docking and guide the upgrading of domestic consumption. In the process of implementing high-quality development, it shows the internal driving force for the transformation to innovation driven science and technology, fashion and green industries, so that people have more sense of gain and happiness in the field of textile and garment consumption.

"The contribution rate of consumption in the troika of consumption, investment and export." According to Guo Chunli, deputy director of the Economic Research Institute of the national development and Reform Commission, in the first three quarters of 2018, the contribution rate of consumption to economic growth was 78%, investment was 31.8%, and net export was - 9.8%. From the actual contribution rate, since 2011, the contribution rate of consumption is generally higher than that of investment.

"China's consumer demand has great potential and the market scale ranks among the top in the world. On the premise that the external market is not optimistic, we should promote the formation of a strong domestic market." Guo Chunli said that China is still in the stage of rapid development of industrialization and urbanization. The rapid growth of medium and high-end demand promotes the formation of a strong domestic market. It is necessary to improve product quality and improve the consumption environment so that people can eat at ease, dress satisfactorily and use comfortably.

Wang Yao, vice president of China Chamber of Commerce, pointed out that in 2018, China's GDP and income growth showed a slowing trend, with high export pressure, the growth of household consumption expenditure showed a slowing trend, the growth of retail sales of social consumer goods continued to decline, and the market economic environment shifted from quantitative development mode to high-quality development mode.

"At present, there is a serious oversupply of low-end goods in China's textile and garment industry, and the high-end market is occupied by international well-known brands." Wang Yao said that the industry should continue to implement the "three products" strategy of increasing varieties, improving quality and creating brands.

Wang Yuanhong, deputy director of the Economic Forecasting Department of the information center, said that the strong domestic market is facing multiple challenges, such as the lack of endogenous driving force for the development of the real economy, the weak core technology and innovation ability, and the urgent need to improve the system and mechanism of innovation and development. In the new year, the supply side structural reform should make efforts to consolidate, enhance, improve and unblock, truly promote the implementation of reform and realize the nirvana and rebirth of China's economy.

"The core of strengthening the domestic market lies in deepening the supply side structural reform and improving the supply quality and efficiency, so as to improve the adaptability of the industry to the new market situation, better meet the expanding and upgrading domestic market demand, actively guide market consumption, stimulate market potential with innovation and actively create new market space." Gao Yong said that in the new year, we should take science and technology as the support and green as the guidance, improve the output and supply quality, continuously improve the manufacturing level and improve the development capacity of textile and garment products.