< p > in the first half of the year, < a target= "_blank" href= "http://m.pmae.cn/" > textile < /a > a target= "_blank" href= "_blank" > clothing at the bottom of the export recovery, the trend of stabilization and recovery is more obvious.

According to customs statistics, from 2013 to June, China's clothing exports increased by 13.4% year-on-year, while the year-on-year growth rate has dropped compared with the first quarter, but the cumulative growth rate still has two digit growth rate. 1.

We believe that the worst period of textile and clothing exports is over. In 2013, textile and garment exports are expected to maintain a moderate upward trend.

Retail consumption is still weak in terms of domestic demand.

According to the statistics of the total retail sales released by the National Bureau of statistics, the cumulative sales volume of textile and garment industry increased from 1 to May, 11.1%, lower than the 12.6% growth rate of total retail sales of social consumer goods, and the recovery of the industry as a whole is still relatively slow.

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< p > on the one hand, the low retail terminal restricts business improvement.

From the perspective of enterprise survey, sales between 5 and June were slightly better than those in April, but the sales volume of discount promotions is still the main driving force, and there is no substantial improvement in the terminal.

Clothing enterprises do not achieve expected revenue and cost pressures.

On the other hand, textile manufacturing enterprises have dual attributes of growth and cycle. In the long run, manufacturing enterprises have sustained growth.

The concentration of textile manufacturing industry is constantly improving. With the recovery process of the industry, the order of high-quality enterprises is in short supply. The short-term performance of enterprises will be affected by the fluctuation of raw materials, but it can be digested through product price in the long run.

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< p > > therefore, we believe that the enterprises with strong certainty in the performance of the Chinese newspapers should be concerned. In the second half of the year, we will continue to focus on the textile manufacturing sector and expect the consumption to pick up and promote the release of the performance elasticity of clothing.

First of all, the bottom of the apparel industry's home textile industry is coming down, and men's and home textile valuations are all at a historic low level. But if the terminal continues to slump, the income of enterprises will not increase and the confidence of franchisees will not increase. The tide of shops will continue to reach the second half of the year. We expect that the consumer will pick up the revenue and control the price elasticity of earnings. Secondly, the trend of textile manufacturing will be better in the second half of the year. In May, the growth rate of textile and clothing exports will be relatively slower after the increase of false water in the part of trade regulation. However, the situation of enterprises receiving orders is generally good, prices will rise year by year and gross margins will continue to improve.

In the medium to long term, cotton farmers' direct subsidy policy is expected to be launched, which is conducive to the reasonable return of the cost of enterprises, so that the growth of performance will be sustainable.

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