1. The added value of the textile industry

The textile industry in China is a highly labor-intensive and foreign-dependent industry. China is the world's largest producer and exporter of textiles and clothing. The sustained and steady growth of textile and clothing exports is crucial to ensuring China's foreign exchange reserves, the balance of payments, the stability of the RMB exchange rate, social employment and the sustainable development of the textile industry.

Growth rate of added value of China's textile industry from 2016 to 2021

Source: Compiled by Zhiyan Consulting

2. The current situation of textile enterprises

1) Number of companies

From 2016 to 2020, the number of textile enterprises in China has shown a downward trend. In 2021, the number of textile enterprises in China will increase to 18,729, a year-on-year increase of 2.1%; the total profit of textile enterprises is 120.3 billion yuan, a year-on-year increase of 8.8%.

The number and total profit of China's textile industry from 2016 to 2021

Source: National Bureau of Statistics, Zhiyan Consulting

Among them, in 2021, the number of enterprises in China's textile and garment industry will be 12,653, a year-on-year decrease of 4.9%; the total profit of textile and garment and garment enterprises will be 76.8 billion yuan, a year-on-year increase of 19.9%.

2018-2021 The number and total profit of China's textile and apparel industry enterprises

Source: National Bureau of Statistics, Zhiyan Consulting

2) Loss-making companies

In 2021, the number of loss-making enterprises in China's textile industry will decrease by 955 compared with 2020, a year-on-year decrease of 23.8%; the loss of China's textile industry will be 12 billion yuan, a year-on-year decrease of 25.6%.

2016-2021 China's textile industry loss-making enterprises and loss

Source: National Bureau of Statistics, Zhiyan Consulting

Among them, in 2021, the number of loss-making enterprises in China's textile and clothing industry will be 2,341, a year-on-year decrease of 24%; the loss of China's textile and clothing and clothing industry will be 11 billion yuan, a year-on-year decrease of 3.2%.

2018-2021 China's textile and apparel industry loss-making enterprises and loss

Source: National Bureau of Statistics, Zhiyan Consulting

Related report: "2022-2028 China Textile Industry Development Strategic Planning and Investment Direction Research Report" released by Zhiyan Consulting