NEWS CENTER

A professional manufacturer of fashion fabrics

Homepage

NEWS

Industry News

398. 2 billion! China's textile raw material exports soared in the first quarter, prompting a Western boycott of Xinjiang cotton

Categories:Industry News
Author:David Deng
Origin:Suze Textile & Clothing Co., Ltd.
Time of issue:2021-05-25 09:33
Views:

(Summary description)





398. 2 billion! China's textile raw material exports soared in the first quarter, prompting a Western boycott of Xinjiang cotton

(Summary description)

Categories:Industry News
Author:David Deng
Origin:Suze Textile & Clothing Co., Ltd.
Time of issue:2021-05-25 09:33
Views:

Information

China 's export growth was once again surprising, mainly behind China' s recovery in US demand and the influx or transfer of large orders to the Chinese market, the Global Times reported on May 8, citing foreign media. China's exports totaled 6.32 trillion yuan in the first four months of this year. More surprisingly, in the first quarter of this year, China's total exports of textile raw materials and textile products reached 398. 228 billion yuan, up 27.7% year - on - year. In fact, since May last year, China 's cotton production has been overtaking India. Even if Western countries resisted Xinjiang cotton with "human rights issues" as an excuse, it did not have much impact. China' s textile raw materials exports soared in the first quarter, which undoubtedly made the Western boycott a laughing stock.

In late March this year, Western countries suddenly hyped the so - called "human rights issue in Xinjiang" , imposed sanctions on many Chinese individuals and entities, and "united" and resisted Xinjiang cotton, trying to intervene in China 's internal affairs and destroy China' s territorial integrity. In response, China immediately launched a strong counterattack, implementing three times the countermeasures against the EU and the United States, Britain and Canada. Businesses resisting Xinjiang cotton like hm、 Nike, Adidas and Uniqlo have also encountered spontaneous resistance from Chinese consumers, sales began to plummet, and the " hm" search terms on Taobao and Tmall were even blocked.
Under the pressure of western countries, although some key products and enterprises in Xinjiang have received sanctions, the foreign exports of Xinjiang cotton have not increased. Xinjiang's exports to the United States surged 113 percent in the first quarter year on year from the Customs Administration, according to the South China Morning Post. It can be seen that the impact of western sanctions on the Chinese raw material market is quite limited, especially after the outbreak of India, due to the impact of local raw material production capacity, many orders have shifted to China, bringing new opportunities in China's raw material market.

In addition to China and India are competing in the textile industry, in the pharmaceutical field, China and India are also the world's two largest raw material supply markets besides the United States, accounting for about 12% and 9% of the world respectively. Now, due to the epidemic in India, we have to take "blockade" measures, which has caused a certain impact on the production capacity of local pharmaceutical raw materials, which may be lack of capacity and other related reasons to turn a large number of orders to China. In addition, China will also have the opportunity to occupy more markets in the supply of the new coronavirus vaccine. India is now becoming a vaccination recipient, forced to become the recipient, which could create a run on global vaccine resources.
No matter which country, the demand for drugs is rigid, and India plays an important role in the global supply of pharmaceutical raw materials. Once India is affected by the epidemic, the API supply is tight, which will likely lead to the reshaping of the global supply pattern of pharmaceutical raw materials. China 's pharmaceutical raw materials are relatively sufficient. Once China' s supply chain has problems, China will be the most capable country to undertake the capacity of India's pharmaceutical raw materials.

India and China are also a large population, but the two sides have different attitudes in fighting the epidemic, and the results are far different. Because China has brought the epidemic under control in a short time, now the economy has begun to recover comprehensively. It is the few countries in the world with gdp showing positive growth and has good development prospects in all aspects. India has been negatively fighting the epidemic since the outbreak of the first wave, leading to the epidemic once again out of control. All Indian industries were badly hit by the epidemic. The raging epidemic has cost India much of its development opportunities, and a large number of investors and businesses have turned their eyes to China. India's textile raw materials exports were overtaken by China, which may be just the beginning. If the epidemic cannot be controlled as soon as possible, India will be overtaken in more aspects as follows.

Analysts pointed out that the gap between China and India in fighting the epidemic is not only due to different attitudes, but also related to the institutional differences between the two countries. After the outbreak of the epidemic, China united, concentrated on curbing the epidemic in a small scale, and ultimately ensured national security. India, on the other hand, fought separately. After the second wave of the epidemic, all regions also fought for oxygen resources, causing all kinds of chaos. This fully illustrates the importance of institutional superiority to a country. As long as China continues to give full play to its institutional advantages of concentrating on major things, both the epidemic, economic problems or Western sanctions, it can be well addressed.

Keyword:

Scan the QR code to read on your phone

Previous: Overview of Foreign Trade in Textile and Clothing in April 2021

Next: Great impact on overseas textile production by pandemic

Previous: Overview of Foreign Trade in Textile and Clothing in April 2021

Next: Great impact on overseas textile production by pandemic