From January to August, compounded by the complex and severe international economic environment and the increase in the base number of the previous year, the growth rate of the main economic indicators of the printing and dyeing industry dropped from the previous month, but the overall economic operation of China's printing and dyeing industry maintained a stable and progressive development.

I. Production

According to the National Bureau of Statistics, from January to August in 2021, the output of printed and dyed fabrics of enterprises above designated size in the printing and dyeing industry reached 39.19 billion meters, seeing a year-on-year increase of 24.59%. And the two-year average growth was 2.29%, 2.24 percentage points lower than that of the first seven months. From the perspective of monthly output, since 2021, the monthly output of printed and dyed fabrics of enterprises above designated size has remained above 5 billion meters, which indicated that despite the multiple impacts of unstable and uncertain factors at home and abroad, the printing and dyeing industry has maintained a good development.

According to the National Bureau of Statistics, from January to August, the share of three overheads in turnover of printing and dyeing enterprises above designated size was 6.82%, down 0.34 percentage points year-on-year. Among them, that of cotton printing and dyeing enterprises reached 6.64%; chemical fiber printing and dyeing enterprises, 8.14%. The turnover rate of finished products was 18.01 times/year, up 16.28% year-on-year. The turnover of account receivable was 8.45 times/year, seeing year-on-year growth of 17.24%. The total asset turnover was 1.01 times/year, increased by 17.01% year-on-year. The main operational quality indicators of the printing and dyeing industry maintained a continuous recovery, but the recovery process of the turnover rate of finished products and the total asset turnover were relatively slow. And there is still a significant gap compared with that of before the Covid-19 pandemic. Compared with the same period in 2019, in the first eight months, the share of three overheads in turnover of printing and dyeing enterprises above designated size grew by 0.14 percentage points; the turnover rate of finished products and the total asset turnover declined by 13.68% and 7.81%, respectively. And the turnover of account receivable grew by 3.51%.

Based on the data released by the National Bureau of Statistics, in the first eight months of 2021, the printing and dyeing enterprises above designated size across the country achieved CNY 183.5 billion worth of operating income, up by 24.82% year-on-year. The two-year average growth reached 0.73%, achieving positive growth for the first time over the same period in 2019. Their profits totaled CNY 7.49 billion, up by 39.26% year-on-year. Its ratio of profits to cost was 4.34%, seeing a year-on-year increase of 0.49 percentage points. The margin of sales was 4.08%, 0.42 percentage points year-on-year higher than the same period of 2020. 25.38% of enterprises operated at a deficit, declined by 12.65 percentage points year-on-year. Their total loss reached CNY 1.37 billion, down 30.88% year-on-year. The export delivery value was CNY 24.56 billion, up by 14.97% year-on-year. Compared with the same period in 2019, from January to August, the ratio of profits to cost decreased by 0.51 percentage points; the margin of sales declined by 0.48 percentage points; while total loss increased by 2.67 percentage points.

II. Exports

According to the statistics released by China General Customs, from January to August, the export volume of eight major categories of printed and dyed products totaled 18.25 billion meters, grew by 33.11% year-on-year. While the export value was US$ 17.99 billion, up by 36.92% year-on-year. And the average export unit price was US$ 0.99/meter, seeing a year-on-year increase of 2.86%. The export scale of major products in the printing and dyeing industry has basically recovered, but the average unit price of exports is still lagging behind the pre-epidemic period. This reflects that the current international market is under greater competitive pressure and consumer demand in the global market has not yet fully recovered.

Since mid-to-late September, Zhejiang province, Jiangsu province, Guangdong province, Fujian province and other major printing and dyeing clusters have implemented a system for controlling energy intensity and energy consumption (hereinafter referred as "dual control" policy), which have a greater impact on enterprise production. Looking forward to the fourth quarter, the "dual control" policy of energy consumption in various regions will become normal, and the pressure for steady growth in the printing and dyeing industry throughout the year will increase.

Source: CHINA TEXTILE LEADER Express