Development Trend of China's Knitwear Manufacturing Garment Industry
Development Trend of China's Knitwear Manufacturing Garment Industry
Standing at the historical juncture of great changes unseen in a century, looking forward to the "14th Five-Year Plan", building a complete domestic demand system, and gradually forming a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles mutually promoting each other. This has become our plan for China The key content of the next economic journey.
How to correctly understand the hot word "double cycle"? How to solve the problem with the domestic cycle as the main body?
01 What is "double loop"?
"Double loop" is a very important hot word recently.
mainly refers to the gradual formation of a new development pattern in which domestic and international cycles are the mainstay and the domestic and international double cycles promote each other.
On July 30, 2020, the Politburo meeting of the Central Committee emphasized the policy thinking of "double cycle". The meeting pointed out that “the current economic situation is still complex and severe, with great uncertainty. Many of the problems we encounter are medium and long-term. We must understand from the perspective of protracted warfare, and accelerate the formation of a domestic and international dual cycle with the main domestic cycle. A new development pattern that promotes each other and establishes a medium- and long-term coordination mechanism for epidemic prevention and control and economic and social development.” This meeting further clarified that the “double cycle” development pattern is not a short-term consideration, but “from the perspective of protracted warfare. Understanding". This also means that the "dual cycle" will become the overall guiding idea for medium and long-term economic policies, and will especially have an important impact on the deployment of economic work during the "14th Five-Year Plan" period.
Source: Finance Magazine
However, the "double cycle" is not about having an inside without an outside, nor is it having an outside without an inside. Taking the domestic cycle as the main body means striving to open up all links of domestic production, distribution, circulation, and consumption, giving full play to the advantages of China's super-large market, and meeting domestic demand as the starting point and goal of economic development.
The domestic and international dual cycles promote each other, emphasizing the domestic economic cycle as the mainstay, and it is by no means "self-enclosed." The purpose of this is to make the domestic market better connect with the international market by giving full play to the potential of domestic demand, and to use the two international and domestic markets and two resources to achieve more robust and sustainable development.
02 Why does "double loop" become a new proposition?
The proposal of a new development pattern of "dual cycles" is not only the inevitable result of changes in the external environment, but also the only way for the transformation of domestic development stages.
In an uncertain external environment, “we must give full play to the advantages of the domestic super-large-scale market, and add impetus to China’s economic development by prospering the domestic economy and smoothing the domestic cycle”, thereby “cultivating China’s new advantages in participating in international cooperation and competition under the new situation. ", strengthen China's resilience and initiative in the process of opening up to the outside world, and then form a "double cycle of mutual promotion of a new development pattern."
The sudden outbreak of new crown pneumonia, the world economy has suffered a severe setback, the global demand market has shrunk, and the international situation has shown an unprecedented complex pattern. According to the forecast of the International Monetary Fund’s newly released "World Economic Outlook Report", the global economy will shrink by 4.9% in 2020, of which developed economies will shrink by 8%, and emerging markets and developing economies will shrink by 3%.
At present, my country's economy is already very large, and it has become a major economy with obvious spillover effects on the world economy. In this external context, simply relying on participation in the international economic cycle is no longer sufficient to continue to support long-term sustainable economic development.
03 How to solve the problem with the domestic cycle as the main body?
With the domestic cycle as the main body, as the world's second largest economy, China can release its huge potential.
China has the world's most complete and largest industrial system, strong production capacity, and complete supporting capabilities. It has more than 100 million market players and more than 170 million people with higher education or various professional skills, including more than 400 million The super-large-scale domestic demand market formed by the 1.4 billion population of middle-income groups is in the stage of rapid development of new industrialization, informatization, urbanization, and agricultural modernization. The investment demand potential is huge... This is our actual national conditions and ours. The advantage lies.
On the whole, my country gradually overcome various unfavorable factors in the first half of the year, and the momentum of steady economic recovery continues to be consolidated. The National Bureau of Statistics announced on July 16 that China's economy grew by 3.2% year-on-year in the second quarter. The latest data from the General Administration of Customs of China showed that from April to July, exports of knitwear and apparel achieved growth for four consecutive months. With the gradual easing of the global epidemic and the decline in demand for epidemic prevention materials, the growth rate of knitwear exports in July slowed down compared with the previous period. The purchase demand for clothing in major markets rebounded, and clothing exports tended to improve, and the decline was significantly narrower than the previous period. From January to May 2020, my country's industrial knitwear industry exported a total of 34.29 billion U.S. dollars of various commodities, a year-on-year increase of 202.62%. Among the main export products, the export value of masks reached 22.56 billion U.S. dollars, and the export value of non-woven protective clothing was 2.06 billion U.S. dollars, accounting for 65.78% and 6% of the industry's total exports respectively.
The positive changes in these data reflect the strong resilience and deep potential of the Chinese economy. The next step is to continue to meet domestic demand as the starting point and end of development, accelerate the construction of a complete domestic demand system, firmly implement the strategy of expanding domestic demand, and form a lasting and strong driving force for economic growth.
04 Under the current situation, how to get through the "double loop"?
"The most urgent task of the domestic big cycle is to expand domestic demand and stabilize and optimize the industrial chain." Yan Yilong, deputy dean of the National Research Institute of Tsinghua University and associate professor of the School of Public Administration, believes that we must first actively expand internal demand, expand effective investment demand, and tap potential consumption. Demand promotes the cycle of supply and demand. Secondly, we must optimize and stabilize our industrial chain, ensure that our advantages in the entire industrial chain are not reduced, and firmly grasp the opportunities of the fourth industrial revolution.
How to loop? The four links of the domestic cycle are: production, distribution, circulation, and consumption. The internal cycle is to promote elements and resources in the four processes to reduce friction, stimulate vitality, improve efficiency, and ultimately pursue the maximization of benefits.
First of all, the production process should make up for short plates and forge long plates to achieve supply chain stability and competitiveness. As a major manufacturing country, China has a competitive advantage on the "production side". However, there is also the defect that low value-added products account for too high a proportion. Therefore, the "internal cycle" of the production process will focus on "forging long plates and making up short plates", which requires cost advantages to further reduce the external dependence of low value-added products. Seize the opportunity of domestic substitution, lay out all links in the industrial chain, and improve system stability.
Second, improve the efficiency of the circulation link. The promotion of the "inner circulation" of circulation must be based on the system guaranteeing the coordinated development of regions, and the "urban agglomeration" is the main development model. The goal of the "inner loop" of circulation is efficient interconnection. The main form is to improve efficiency and reduce costs, such as developing high-speed rail, building an online and offline supply chain ecosystem, reducing high-speed rail fares, express shipping, and so on.
05 "Double cycle" promotes opening up to a new stage
Of course, taking the domestic cycle as the main body by no means means that China has begun to become self-reliant. The Chinese people don't want to experience the pain of "close up and close the country" and "being beaten if they are behind".
In today's world, although economic globalization has encountered the interference of protectionism and unilateralism in some countries, the division of labor and cooperation, mutual benefit and win-win situation are a long-term trend.
Expanding domestic demand does not mean giving up foreign trade, and forming a large domestic market does not mean giving up international competition. For our country, expanding domestic demand and opening up are not contradictory. The smoother the domestic cycle, the more conducive to building a new pattern of opening up, and the more conducive to forming new advantages for participating in international cooperation and competition.
Since the epidemic, China has not slowed down its pace of opening up while practicing "internal strength". In May, the "Opinions on Financial Support for the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area" was officially released. In June, the "Overall Plan for the Construction of Hainan Free Trade Port" was officially issued. The 2020 version of the negative list for foreign investment access was further reduced. This year, the restrictions on foreign shareholding in futures, funds, and securities companies have been removed or will be gradually lifted. In mid-May, the "Opinions on Accelerating the Improvement of the Socialist Market Economic System in the New Era" also specifically pointed out: "Implement a more proactive opening strategy, fully integrate with the international high-standard market rule system, and implement a wider range of A deeper level of full opening.” The four aspects of the Belt and Road Initiative, Pilot Free Trade Zone and Free Trade Port, high-level open policy guarantee mechanism, and participation in the reform of the global governance system were elaborated in detail. At the same time, China is also actively promoting China-EU bilateral investment agreement negotiations and the formal signing of the RCEP agreement.
It can be said that the "dual cycle" is to coordinate the overall domestic and international situations under the new situation, promote a new strategic layout of two resources, two productions, two chains, and two markets, and promote my country's opening to the outside world into a new stage.
There is no doubt that China's development cannot be separated from the world, and the world's development also needs China. In the future, China will only open wider and wider, and share its huge market opportunities with the world.
06 Improve the value chain level of the knitting industry
Domestic clothing brands are promising
In the knitting industry, it is necessary to upgrade the value chain of the knitting industry to make up for the shortcomings, and to strengthen the leading position of advantageous industries, and finally realize the acceleration of domestic substitution. First, it is necessary to support enterprises in the implementation of technological transformation and upgrading. For industries or industrial chain links that already have advantages, it is necessary to achieve further strengthening of advantages and speed up intelligent and digital transformation. The second is to encourage companies to upgrade the level of the value chain and establish brand value. Finally, through the above two, to achieve the improvement of technology and brand power to attract high-quality external demand to return, promote the acceleration of domestic substitution, and also form a positive effect on the external cycle.
my country's apparel industry has a large room for development, and the concentration is expected to continue to increase in the future. my country's clothing industry is a mature industry. According to Bloomberg data, the retail sales of my country's clothing industry in 2019 was 2.62 trillion yuan, a year-on-year increase of 5.30%, and the compound growth rate in the past five years was 5.93%. Compared with developed countries, my country's per capita consumption of clothing in 2019 is 36.6 pieces, which is lower than the consumption level of the United Kingdom and the United States, and there is still room for growth in the future.
The competitive landscape of my country's apparel industry is still relatively fragmented. The No. 1 apparel brand company in China, Ayato Group, has a market share of only 1.5% in China in 2019, while the U.S. and Japan’s largest apparel brand companies GAP and Fast Retailing have market shares in their respective countries. 4.3% and 15.2%. Compared with the market share of apparel brands in developed countries, the market share of major domestic apparel brands is expected to continue to increase.
Benefiting from the improvement of competitiveness and the rise of national tide, Chinese clothing brands have a lot to do in the future. The gap between domestic brands and foreign brands has narrowed, and overseas brands have withdrawn from the Chinese market. Domestic brands are improving their capabilities in terms of branding, products, design, channels, supply chain, and retail management. At the same time, they have achieved rapid development with the help of the rising trend of the country. Some domestic brands have begun to compete for the original share of international brands, such as the fast-growing MJSTYLE, UR, China Lining, Bosideng, and Peacebird.
Among the world's top five economies, only the top 10 brands in my country's apparel market have no more than 50% domestically produced. The top 10 brands in my country's apparel market in 2019 are Adidas, Nike, Anta, Uniqlo, Hailan House, Skechers, Lining, FILA, Balabala, Xtep. Among them, there are totally 5 domestic brands, accounting for 50%, namely Anta, Hailan Home, Li Ning, Balabala, and Xtep. 8 of the top 10 clothing brands in the United States are domestic brands; 8 are also in Japan; 6 are in Germany (7 in Germanic terms). Domestic brands among the top 10 clothing brands in other countries cover multiple clothing sub-sectors such as sports, leisure, fashion, and underwear. Although Chinese sports brands have become popular again in recent years, they are still in their infancy, and consumers in the mid-to-high-end market are still inclined Choose Nike Adi. Local sports brands still have a gap with international brands in terms of concept creation and marketing; in addition, sports brands account for 7 of the top 10 brands, indicating that domestic casual fashion brands have development potential and have great prospects in the future.
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