I．Production 

The data released by the National Bureau of Statistics revealed that the output of printed and dyed fabrics above the designated size in the printing and dyeing industry totaled 55.88 billion meters in 2023, up by 1.30% year-on-year. Since the second half of 2023, the production of printed and dyed fabrics has been steadily increasing. In December, the production of printed and dyed fabrics reached 5.59 billion meters, showing a 9.48% increase from the previous month and marking the highest single-month production since April. 

Figure 1: Printed and Dyed Fabrics Output of Enterprises Above Designated Size in China in 2023

Source: National Bureau of Statistics

II. Operation quality and efficiency 

According to the data from the National Bureau of Statistics, the share of three overheads in turnover was 6.95% in 2023, up 0.19 percentage points year-on-year. The turnover rate of finished products was 13.83 times/year, down 11.84% year-on-year; the turnover of accounts receivable was 8.01 times/year, seeing year-on-year growth of 0.26%; and the total asset turnover was 0.97 times/year, down 0.24% year-on-year.

The data from the National Bureau of Statistics showed that the operating income of China’s printing and dyeing enterprises above the designated size totaled CNY 298.61 billion in 2023, seeing a year-on-year increase of 1.44%, 2.34 percentage points higher than that of the first three quarters. Their profits totaled CNY 13.91 billion, up by 9.26% year-on-year, 21.49 percentage points higher than that of the first three quarters. Its ratio of profits to cost was 5.03%, up by 0.38 percentage points year-on-year. 

The sales profit margin was 4.66%, 0.33 percentage points higher than the first three quarters. 30.77% of printing and dyeing enterprises operated in deficit with CNY 3.25 billion of loss value, which decreased by 9.71% year-on-year. 

In 2023, China’s printing and dyeing enterprises faced increased pressure on their operating efficiency due to inadequate market demand, heightened competition, and other factors. The operating efficiency of the printing and dyeing industry is steadily improving as the domestic and international markets grow. In the first ten months, the year-on-year decline in business income and total profit of China’s large-scale printing and dyeing enterprises gradually narrowed. In November, the cumulative growth rate turned positive, and in December, the growth rate further improved. Sales profit improved month by month; industry losses continue to narrow; the foundation of industrial recovery has been further consolidated. 

 Figure 2: Main Economic Indicators of the Printing and Dyeing Enterprises Above the Designated Size in 2023

Source: National Bureau of Statistics

III. Exports 

According to the statistics released by China General Customs, the export volume of eight major categories of printed and dyed products, i.e., dyed cotton fabric, printed cotton fabric, dyed cotton-blended fabric, printed cotton-blended fabric, synthetic filament fabric, polyester staple fabric, printed and dyed T/C fabric, man-made staple fabric, totaled 31.18 billion meters in 2023, up by 4.91% year-on-year, 0.09 percentage points higher than that of the first three quarters of 2023. While the export value reached US$ 30.12 billion, seeing a year-on-year decline of 3.89%, 1.03 percentage points narrower than that of the first three quarters. And the average export unit price was US$ 0.97/meter, declining by 8.39% year-on-year. 

Figure 3: The Export Growth Rate of Eight Major Categories of Printed and Dyed Products in China in 2023 

Source: China Customs 

Among the main export destinations, the export volume of China’s eight major categories of printed and dyed products to ASEAN countries reached 7.05 billion meters in 2023, seeing a year-on-year increase of 2.08%, accounting for 22.61% of the total.

Table: Performance of Part Destinations of China’s Eight Major Categories of Printed and Dyed Products in 2023 

 Source: China Customs

Source: CHINA TEXTILE LEADER Express