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Looking forward to 2021, what challenges will my country's textile and apparel foreign trade enterprises face in terms of exports, and what issues need attention?
Expectations of RMB appreciation are worthy of attention
Looking forward to 2021, analysts believe that international capital favors RMB assets, and market forces should be in a state of promoting a strong appreciation of the RMB, and the market for RMB appreciation is likely to continue in the first half of the year.
The depreciation of the U.S. dollar and the appreciation of the renminbi affect the nerves of export textile and apparel enterprises.
It is worth noting that some large foreign trade companies have used financial instruments such as lock-in and hedging to avoid risks, while small and medium-sized foreign trade companies lack the financial resources and professional skills to deal with frequent exchange rate fluctuations. How to deal with exchange rate fluctuations has become a hurdle for small and medium-sized export textile and apparel foreign trade enterprises in 2021. If the RMB continues to appreciate, it may also affect the good export situation since the second half of 2020.
In order to avoid the risk of exchange rate fluctuations, some professionals suggest that you can also choose RMB-denominated settlement or appropriate foreign currency-denominated settlement instead of relying too much on USD for settlement. At present, some textile and clothing foreign trade enterprises have begun to try to use RMB settlement to avoid the risks brought by the fluctuation of the US dollar exchange rate. For buyers from Southeast Asian countries, Chinese export textile companies have actually begun to use RMB for settlement very early. In addition, many foreign trade textile companies in Africa also use RMB for settlement. In recent years, the acceptance and scope of RMB has been increasing, which deserves the attention of export textile enterprises.
Export potential in the post-epidemic era needs to be tapped
2020 is a special year. Affected by the epidemic, my country's textile and apparel exports have experienced large fluctuations. In 2020, the sudden new crown pneumonia epidemic caught the world by surprise. Many countries in the world are still under severe impact from the epidemic, and when the market economy is recovering slowly, my country will give full play to its institutional advantages to contain the epidemic in a timely manner, and export textile enterprises are not afraid It is difficult, diyi time to organize production and vigorously deliver epidemic prevention materials to all over the world. Driven by the global demand for anti-epidemic materials, the export of textiles, including masks, in the first half of last year has indeed played a greater role in promoting my country's overall export of textiles and clothing. Subsequently, due to the second wave of the epidemic, overseas production was facing stagnation. The huge "magnetic attraction" formed by the stable industrial chain supply chain system of my country's textile and apparel industry caused some international orders to return, and quickly assumed the responsibility of producing orders for the world. The important task is that since the third quarter of last year, many garment foreign trade factories began to recover or saturate orders, and even burst orders.
So, in 2021, can this kind of export stamina be maintained and continued?
It is foreseeable that first, the direction of procurement in the international market will return to normal as the epidemic improves. Due to China's strong and stable supply capacity during the outbreak of the epidemic, the world's major export markets temporarily stopped the pace of outsourcing procurement and returned to China, and the international market share of Chinese textiles and apparel has rebounded. However, with the gradual relief of the epidemic, markets such as the European Union, the United States, and Japan have refocused their sights on ASEAN, South Asia, and countries and regions with geographical advantages, and the market share of Chinese products may fall. Export textile companies need to focus on changes in purchasing trends, make arrangements in advance, and respond well.
Second, epidemic prevention materials are still an important force driving export growth. At present, the world has not yet emerged from the shadow of the epidemic, and the situation remains uncertain. Although my country's exports of defense-related epidemic materials have declined during the peak period, they will still maintain the characteristics of large-scale and high-growth, and they will still be the main force driving export growth.
Third, the textile and apparel cross-border e-commerce platform will be further developed in the post-epidemic era. Affected by the epidemic, online purchases and transactions in 2020 have become the main methods for export trade textile enterprises to open up orders, and online exhibitions have received more attention. Some experts predict that foreign trade orders will become more fragmented, small orders will become the mainstream, and the living space of pure trade foreign trade companies will become narrower. China's foreign trade textile companies, especially B2B foreign trade companies, should adjust their product lines and reposition their customer base.
"From outside to inside" seek high-quality benefits
At present, accelerating the formation of a new pattern of high-quality development with domestic and international cycles as the mainstay and mutual promotion of domestic and international cycles has become the theme of my country's economic and social development.
In fact, starting from the Sino-US trade friction, some textile and apparel foreign trade enterprises consciously shifted their focus from foreign trade to domestic trade.
It should be noted that today's global economic environment is still deeply affected by the epidemic, and the textile and apparel industry is facing the dilemma of slow recovery of the terminal consumer market, especially the poor overseas economy has caused unemployment in some countries and the number of bankrupt companies is still rising. Once the epidemic is repeated, foreign trade activities can easily press the "pause" button again. Therefore, my country's textile and apparel export companies should not put eggs in a basket. While developing overseas orders, they should also focus on developing the inland market, actively seeking high-quality benefits and sharing operating risks. The transition to high-quality development is the way to realize the new development pattern of "double cycle".
Xuzhou Heping Chemical Fiber Co., Ltd. is a professional manufacturer of polypropylene high-strength yarns, polypropylene industrial yarns, polypropylene high-strength yarns, high-strength polypropylene network yarns, split-film industrial yarns and other polypropylene products, which are well received by the market.
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