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          Analysis of the development status of China's textile machinery industry in 2020

          Analysis of the development status of China's textile machinery industry in 2020

          2020-10-30 大鵬機械

          According to statistics from the China Textile Machinery Association, in 2019, the total assets of my country's textile machinery industry were RMB107.229 billion, a year-on-year increase of 4.94%. Affected by multiple factors such as Sino-US trade frictions, the slowdown of domestic and foreign market demand, and the continuous increase in overall costs, in 2019, The revenue and profit of my country's textile industry have declined compared with 2018. As the upstream of the textile industry, the textile machinery industry has experienced a decline in revenue and profits. In 2019, the operating income of my country's textile machinery industry was 81.952 billion yuan, a year-on-year decrease of 7.00%; the total profit reached 5.867 billion yuan, a year-on-year decrease of 3.60%.
             In the five years from 2014 to 2018, in terms of textile machinery sales revenue and total profit, the overall scale of my country's textile machinery industry has shown an upward trend. With the deepening of industrial restructuring, domestic medium and high-end textile equipment has developed rapidly, and the overall operation of the textile machinery industry has increased steadily. In 2019, due to factors such as Sino-US trade frictions, the main business income of my country's textile machinery industry declined compared with the previous year.

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