Fixed asset investment in China’s garment industry shows rapid growth
The China Garment Association disclosed on the 16th that since 2022, fixed asset investment in China’s garment industry has maintained a rapid growth trend, but the growth rate has slowed down. From January to November 2022, the completion of fixed asset investment in China’s garment industry increased by 28.1% year-on-year, and the growth rate slowed down by 5.7 percentage points from the first half of the year.
The China Garment Association stated that since 2022, China’s garment industry’s economic operation has shown a continued slowdown overall, especially since November, when the international environment has become more severe and complex. The global economy continues to weaken, the impact of the rebound of the domestic epidemic situation has increased, the shrinking trend of domestic and foreign market demand has become more obvious, and the economic operation of the industry has been greatly affected.
Since 2022, the production growth rate of China’s garment industry has continued to slow down, and the decline in industrial added value and garment output of enterprises above designated size has gradually deepened. From January to November 2022, the industrial added value of enterprises above designated size in China’s garment industry fell by 0.9% year-on-year.
The China National Garment Association stated that despite the severe and complex international environment and the pressure of shrinking domestic market demand, the operating pressure of Chinese garment companies continues to rise. However, as the country’s various policies to expand domestic demand and promote consumption gradually come into effect, consumer demand will continue to be released, and the domestic market will gradually pick up in 2023.
At the same time, with the optimization and adjustment of national epidemic prevention and control policies and the traditional peak consumption season of the Spring Festival, major clothing brands have launched various promotional activities, which will further accelerate the recovery of the clothing consumption market in 2023.
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