Confidence Is More Important Than Gold! China'S Consumer Market And Textile And Clothing Exports Continue To Pick Up

In June, China's total retail sales of consumer goods were 3.35 trillion yuan, down 1.8% year-on-year,

For four consecutive months, the decline was narrowed by 18.7 percentage points.

In the first half of 2020, the epidemic situation of new crown pneumonia has a great impact on the domestic consumer market. In recent months, the situation of epidemic prevention and control in China has been improving continuously, the order of production and living has been accelerated, and the consumer market has been steadily rising.

Total retail sales shrank by 3.4% year-on-year, by 3.4% year-on-year. From January to June, the total retail sales of consumer goods were 17.23 trillion yuan, down 11.4% year-on-year, 7.6 percentage points lower than that in the first quarter. The main characteristics are as follows:

First, the sales of commodities rose steadily. In June, the retail sales of commodities basically recovered to 3 trillion yuan in the same period of last year. Among them, the consumption of daily necessities maintained a rapid growth, and the sales of Cereals, Oils and foodstuffs, daily necessities and medicines increased by 10.5%, 16.9% and 9.7% respectively over the same period of last year. The consumption of upgraded goods rebounded significantly. The sales of communication equipment, cosmetics and household appliances increased by 18.8%, 20.5% and 9.8% respectively, and the growth rates rose by 7.4%, 7.6% and 5.5% respectively. From January to June, the national retail sales of goods were 15.76 trillion yuan, a year-on-year decrease of 8.7%, and the decline rate was 1.9 percentage points lower than that of January may.

Second, service consumption continued to recover. In June, the catering income decreased by 15.2% year on year, 3.7% lower than that in May and 31.6% lower than that in March. The business volume and revenue of national express service enterprises reached 7.47 billion pieces and 79.7 billion yuan, respectively, with a year-on-year increase of 36.8% and 23.9%; in the first half of the year, the business volume and revenue reached 33.88 billion pieces and 382.38 billion yuan, respectively, with a year-on-year growth of 22.1% and 12.6%. In June, China's railways sent 166 million passengers, an increase of 9.4% month on month.

Third, online consumption grew rapidly. From January to June, China's online retail sales reached 5.15 trillion yuan, a year-on-year increase of 7.3%, 2.8 percentage points higher than that of January may. Among them, the online retail sales of physical goods reached 435 million yuan, an increase of 14.3% year-on-year, accounting for 25.2% of the total social zero value, an increase of 0.9 percentage points compared with January to May.

Fourth, consumer prices fell down month on month. In June, the consumer price index fell by 0.1% month on month and increased by 2.5% year on year. Among them, the price of consumer goods was flat, up 3.5% year-on-year; the price of service decreased by 0.1% month on month and increased by 0.7% year-on-year. Consumer prices fell by 3-1.0% from a year earlier.

It is worth noting that, In addition to the sustained and steady recovery of the consumer market, there was also some foreign trade from January to June Return to stability. Exports have been growing for three consecutive months since April, and imports have increased in June. In the first half of the year, China's total imports and exports totaled 14.24 trillion yuan, down 3.2%. Among them, exports were 7.71 trillion yuan, down 3%, while imports were 6.53 trillion yuan, down 3.3%.

In the global context of the continuous spread of the epidemic, China's foreign trade orders are insufficient or lead to export pressure. Moreover, clothing belongs to "optional consumer goods", which has the greatest impact on the global economic downturn caused by the epidemic, and the external demand orders of clothing category will further decline. From the perspective of the textile and clothing industry, affected by the health and epidemic prevention products, the textile and clothing export in the first half of 2020 will achieve a small growth, which is better than expected. However, the export growth of textiles and clothing has been significantly divided since March.

According to the national cargo trade data released by the Chinese customs, from January to June 2020, the cumulative export of textile and clothing was 125.18 billion US dollars, an increase of 3.1% (the national trade of goods exports decreased by 6.2%), of which the textile export was 74.1 billion US dollars, an increase of 27.8%, and the clothing export was 51.08 billion US dollars, a decrease of 19.4%.