China’s Textile Machinery Industry Showed Growing Indicators and Improved Performance

From January to June in 2017, the main business income and total profits of China’s textile machinery industry showed a double-digit growth. Total export-import volume of textile machinery products saw year-on-year growth, and the performance of textile machinery industry improved significantly. In the first half this year, the main business income of China’s textile machinery industry was near CNY 61.05 billion, increased by 12.74% year-on-year and speeded up 10.53 percentage points compared with the same period the previous year; the total profits reached about CNY 4.29 billion, seeing year-on-year rises of 23.11%. In January-June, China’s export-import volume of textile machinery products totaled US$ 3.11 billion, growing by 13.49% year-on-year.

The costs and expenses of textile machinery industry totaled near CNY 56.81 billion in January – June, surged by 11.85% year-on-year. Thereinto, the main business costs was CNY 51.59 billion, with year-on-year growth of 12.69%, accounting for 90.82% of the total; the operating expenses was CNY 1.6 billion, seeing year-on-year rises of 9.93%, accounting for 2.82% of the total; the administration cost was CNY 2.99 billion, increased by 1.6% compared with the same period the previous year, accounting for 5.28% of the total,; while the financial cost was CNY 614 million, up 2.31% year-on-year, accounting for 1.08% of the total.

By profit, in January – June, the profit of textile machinery industry totaled about CNY 4.29 billion, increased by 23.11% compared with the same period the previous year; the deficit of unprofitable firms was CNY 222 million, down 33.73% year-on-year; and 14.52% of textile machinery manufacturers operated with a deficit.

From January to June, the fixed-asset investments of textile machinery industry totaled CNY 13.42 billion, down 2.53% year-on-year, slower than the 5.5-percent growth of manufacturing industry and the 9.11-percent growth of textile industry.

According to customs statistics, China’s export-import volume of textile machinery products totaled US$ 3.13 billion, surged by 13.49% year-on-year. Among them, the exports of textile machinery were near US$ 1.53 billion, seeing year-on-year rises of 4.07%; while the imports were near US$ 1.59 billion, with year-on-year growth of 24.31%.

From January to June, China imported textile machinery from 54 countries and regions and stood at US$ 1.58 billion in value, surged by 24.31% year-on-year. The breakdown of imported textile machinery products shows that the imports of auxiliary equipment and spare parts ranked the first place and totaled US$ 376 million, with year-on-year growth of 34.25%, accounting for 23.68% of the total. Among seven categories of products, only the imports of chemical fiber machinery showed negative growth, while the imports of auxiliary equipment & spare parts, spinning machinery, knitting machinery and dyeing and finishing machinery showed much higher growth than the industry average. From January to June, the major suppliers of China’s imported textile machinery were Germany, Japan, Italy, Belgium and Taiwan. The trade volumes with them were near US$ 1.27 billion, up 22.97% year-on-year, accounting for 80.82% of the total.

From January to June, China exported textile machinery products to 166 countries and regions and stood at US$ 1.52 billion in value, surged by 4.07% year-on-year. The exports of knitting machinery dropped slightly by 0.23% year-on-year to US$ 502 million and accounted for 32.93 %, ranking the first place. And it is followed by dyeing and finishing machinery, chemical fiber machinery and nonwovens machinery. Among seven major categories of exported products, five increased while two were down.

The top five destinations for China’s exported textile machinery in value term are India, Bangladesh, Vietnam, Pakistan, and the United States. Exports to these markets accounted for 51.94% of total exports. Exports to India totaled US$ 322 million, seeing a year-on-year growth of 0.85%, accounting for 21.08% of total exports.

In the first half of 2017, various indicators of textile machinery industry have improved during the economic operation and the trade volume of both import and export increased. Textile machinery industry made great efforts to adjusting and optimizing the industrial structure, building a multi-point support system and following the developing pace of the “Belt and Road” strategy. And the operation is much better than the same period last year.