In the latest report released recently, the International Textile Manufacturers Federation (ITMF) said that since November 2021, the number of new orders in the global textile industry has continued to decline, and the end of 2023 hit a historic low. At the same time, the inventory problem of the current textile supply chain is still prominent, and the inventory of enterprises is higher than the average level of previous years.

China's fabric industry, which has long been deeply "chain" into the global market, cannot be immune. In order to "stand firm" or even "run" in the complex and changing foreign trade situation, enterprises must not only adapt to the changing business environment, but also need to master excellent technical skills.

A new pattern of textile foreign trade is gradually taking shape

With the continuous expansion of foreign trade "circle of friends", a new pattern of China's textile foreign trade is gradually taking shape.

However, the relevant foreign trade enterprises still dare not have a bit of slack. Textile foreign trade enterprises keenly feel the arrival of the "adjustment period", and are actively jumping to both ends of the brand and technology, improving the added value of products, and looking for irreplaceability.

"Going green" products are also taking advantage of the trend. Changzhou Ding Ding Textile Technology Co., Ltd. is a professional development, design, production of high-grade leisure fabrics self-operated import and export enterprises. The company's development department designer Wang Rong introduced that the company's main fabrics this year contain green "genes". "There's a product that uses yarn dyed with paint. This kind of yarn does not need water during the dyeing process, which can save water resources, and foreign customers have a good response."

Look for opportunities in the crisis, observe the trend of the textile market, both look at the current "shape", but also look at the long-term "potential". China's fabric industry has a complete industrial chain, strong product competitiveness, China's textile export market still has upward space, to a good advantage.

What about "order transfer" and "industrial relocation"?

For industries with sufficient global competition, the survival and development of enterprises cannot rely on a single market, and the competitiveness of products in the international market should be continuously improved by strengthening the overseas layout.

In fact, China has deeply embedded in the global value chain division of labor, "you have me, I have you" is the general trend.

The data show that there are imports and exports, and stable imports are the mainstream of China's foreign trade - from the product point of view, in 2023, China's exports of intermediate goods accounted for 47.3% of the total value of China's exports. Among them, the export of auto parts to Japan and Mexico, the export of lithium batteries to the United States and Germany, and the export of flat panel display module intermediates to Vietnam and Indonesia all achieved double-digit growth. Regionally, in the first two months of this year, China's exports to the top three trading partners of ASEAN, the European Union and the United States all maintained growth, up 9.2%, 1.6% and 8.1% respectively. Exports to countries jointly building the Belt and Road increased by 13.5 percent.

"It's not that if companies build factories abroad, domestic exports will be less and cannot be directly equated." Despite the accelerated evolution of the world and the continuous restructuring of the global industrial chain and supply chain, China's position in it is still stable: China's international market share of exports is stable at about 14%, and the import and export of intermediate goods account for 61.1%, showing strong resilience.

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