The globalization of the knitting industry is imperative

The operation of the textile industry this year, from January to October, the figures provided by the National Bureau of Statistics are relatively optimistic. From January to October, the total output value of the textile industry totaled 4.68 trillion yuan, a growth rate of 11%, a profit of 181.2 billion yuan, and an export volume of 209.8 billion US dollars, an increase of 2%. Investment in fixed assets increased by more than 14% during the period from January to October. Looking at the complete industrial chain of the textile industry, the cotton and chemical fiber industries are relatively more difficult. The common problem is the sluggish international market and insufficient domestic demand. The cotton spinning industry is mainly due to the special circumstances encountered by the textile industry, and the macroeconomic policy of cotton has caused the increasing price difference with international cotton. Therefore, this year's cotton spinning industry has experienced unprecedented difficulties. Many companies have responded to this year's situation even more difficult than in 2008 and 2009. As the chemical fiber industry was affected by the cotton spinning industry, profits dropped by 52%.

Looking at China's manufacturing industry, the textile industry is still relatively optimistic. Although the growth of the clothing industry is not as good as in previous years, it is still growing slowly. In particular, the development momentum of the knitting industry in the entire textile and apparel industry is still quite promising. Many domestic clothing brands have successively developed knitwear products. From the perspective of profitability, the textile industry is third only to the machinery industry and the precision industry. In the future, China's economic growth will enter a medium-speed growth phase. At this particular stage, the development of the manufacturing industry requires the industry to analyze and prepare in advance. When we formulated the "Twelfth Five-Year Plan" for the textile industry, we have already lowered the expected growth rate of the textile industry. The growth target for the next five years' GDP is 8%, and the target for fiber processing growth is 5%. Our goal in the year was to build a textile giant into a textile powerhouse, but the target of this powerful country has been different from the 15% growth rate 30 years ago. This is because it is no longer possible for such growth to happen.