From January to August, investment in China's garment industry maintained rapid growth
Release Date:
2022-10-25
Beijing, Oct. 13 (China News Service) -- China National Garment Association released a new economic briefing on China's garment industry on Oct. 13: From January to August, the completed fixed asset investment in China's garment industry increased by 30.9% year on year, 26.1 percentage points higher than the same period in 2021, and 23.3 percentage points higher than the overall level of textile industry and manufacturing industry and 20.9 percentage points higher.
Beijing, Oct. 13 (China News Service) -- China National Garment Association released a new economic briefing on China's garment industry on Oct. 13: From January to August, the completed fixed asset investment in China's garment industry increased by 30.9% year on year, 26.1 percentage points higher than the same period in 2021, and 23.3 percentage points higher than the overall level of textile industry and manufacturing industry and 20.9 percentage points higher.
Chinese clothing association said that since this year, China's garment industry facing the situation is more complex and severe global outbreak continues to spread, and increased risk of economic stagnation, distributed multiple domestic outbreak, more than expected, such as high temperature weather factors on the impact of the production, consumption is larger, the market demand, industrial chain, the supply chain such as poor production and management difficulties. In August, a series of policy measures "steady growth" in the country, under the support of Chinese clothing (domestic market gradually warming, investment to maintain good growth, but the contract in external disturbance, the cost is high, the outbreak and geopolitical risks under the influence of unfavorable factors, such as a slight drop in production, export growth fell back, benefit growth continues under pressure.
In August, due to the influence of multiple COVID-19 outbreaks in China, accelerated outflow of orders and high temperature power restriction in some provinces and cities, the industrial added value of enterprises above designated size in the garment industry declined further. The garment output grew negatively for three consecutive months, and the recovery process of garment production slowed down. In the January-August period, the industrial added value of enterprises above designated size in the garment industry increased by 2.9 percent year-on-year, 0.7 percentage points slower than that in the January-July period and 7.0 percentage points slower than that in the same period in 2021.
August, at the same time, China's garment industry fixed assets investment growth slipped a bit, but still maintain a rapid growth, show with all levels of governments to increase support industries, repair chain chain investment, enterprises gradually enhance confidence in the industry with high quality development, in automatic, digital and intelligent technology upgrade, and regional layout adjustment in areas such as increasing investment, Industrial transformation and upgrading were deepened. (after)
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