The textile industry contributes to accelerating the construction of new rural areas
China’s economic data for February will be released one after another starting from March 10. As expected, under the background of the gradual expansion of the impact of the financial crisis and the transformation into a real economy, China’s various economic indicators are not optimistic. However, through the analysis of economic data, we still have reasons not to be pessimistic.
On March 10, the National Bureau of Statistics released monthly reports on China’s overall consumer price level (CPI) and industrial product factory prices (PPI). Data show that CPI fell by 1.6% year-on-year in February, and PPI fell by 4.5% year-on-year. Experts from the National Information Center said that both the CPI and PPI fell, making potential deflationary pressure gradually apparent. The CPI fell for the first time since December 2002. Half an hour after the data was released, the American media claimed that deflation was emerging in China. In this regard, relevant sources from the National Bureau of Statistics said that this month’s double decline in CPI and PPI was mainly affected by the significant decline in primary product prices in the international market and some special factors. It cannot be concluded that deflation has occurred in China.
Among the ten major industry revitalization plans proposed by the central government, the textile industry has received attention for its characteristics of stabilizing and stimulating employment and revitalizing the economy. In the economic data released in January and February this year, although the overall indicators of the textile industry showed a downward trend, it still showed strong industrial advantages and comparative advantages. Although the export of major categories of products such as yarn, fabrics and clothing cannot escape the general trend of declining quantity, lower prices and slower growth, compared with the situation of mechanical and electrical products and high-tech products, the decline in textiles is limited. Experts pointed out that this shows that the country’s policy measures such as continuously increasing the export tax rebate rate are beginning to take effect. It also shows that the textile industry has shown better comprehensive benefits and strong comparative advantages because of its complete industrial chain.
On March 10, the second session of the Eleventh National People’s Congress held a press conference at the Great Hall of the People. Li Yizhong, Minister of Industry and Information Technology, and Chen Deming, Minister of Commerce, respectively emphasized in response to reporters’ questions that although the national The decline in electricity consumption has slowed down significantly, and there are some positive signs. However, the situation is still severe, and the industry is still in a very difficult situation. Therefore, we must not take it lightly, let alone say it will get better. In addition, China’s foreign trade import and export has experienced continuous negative growth since November last year, and the February figures will also be announced soon. According to preliminary analysis by the customs, the February figures are still downward and still showing negative growth. In the foreseeable few months, the foreign trade situation will still be very severe.
On March 11, foreign trade data for February were released. According to preliminary statistics, China’s imports and exports both fell by more than 20% year-on-year in February, and the trade surplus shrank significantly from US$39.1 billion last month to about US$7 billion. According to predictions by experts from the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, if the external international environment does not continue to deteriorate, my country’s import and export situation may improve in the second half of the year.
Judging from the economic data that has been released, although the growth rates of CPI and PPI have both declined, China’s economy has not yet experienced deflation, and the overall operation is still stable. Compared with the precarious economic situation in the world, pillar industries including textiles are still operating smoothly. There are even more reasons not to be pessimistic about the Chinese economy.
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