In 2019, the economic circumstance at home and abroad was still complicated and severe, the global economic growth has slowed down, and domestic and foreign risks and challenges facing China's printing and dyeing industry have increased significantly. Faced with multiple pressures, the printing and dyeing industry adhered to the supply-side structural reform as the top priority, changed the development mode, optimized the industrial structure, and converted the growth momentum, achieving relatively stable development.　

In 2019, printing and dyeing enterprises above designated size produced 53.76 billion meters of printed and dyed fabric, seeing year-on-year rises of 2.80%, and its growth rate increased by 0.17 percentage point compared with 2018.

The share of three overheads in turnover of printing and dyeing enterprises above designated size was 6.72%, 0.16 percentage point higher than 2018. Its ratio of profits to cost was 6.06%, 0.39 percentage point higher than in 2018; sales profit margin was 5.59%, picking up 0.30 percentage point; the turnover rate of finished products was 21.72 times / year, down 0.80% year-on-year; the turnover of account receivable was 8.17 times / year, seeing year-on-year rises of 8.74%; and the total asset turnover was 1.10 times / year, up 1.44% year-on-year.

In 2019, the main business income of the printing and dyeing enterprises above designated size reached CNY 283.15 billion, up 0.83% year-on-year, the growth rate declined by 2.15 percentage points; their total profits reached CNY 15.83 billion, with year-on-year growth of 6.49%; and their main business cost was CNY 242.48 billion, decreased by 0.58% compared with the same period the previous year.

Looking forward to 2020, the printing and dyeing industry is facing a more complex and severe situation at home and abroad. The COVID-19 pandemic poses the most serious challenge to the global economy since the financial crisis in 2008. In the first half of 2020, world economic growth is expected to slow sharply, weakening the support for the recovery of market demand, and international market demand will be further sluggish. Although the pandemic has impacted China's economic development in the short term, increasing downward pressure on the economy throughout the year, it will not change the fundamental trend of China's long-term economic improvement. From the perspective of the domestic and international macroeconomic environment, the development of the printing and dyeing industry is facing a grim future, with greater pressure and arduous transformation.

Source: CHINA TEXTILE LEADER Express