At present, my country's fiber processing volume accounts for more than 50% of the world's total, and the textile industry ranks first in the world. The development of the textile industry has driven the development of the textile machinery industry. my country's textile machinery industry already has a relatively large scale and has formed a relatively complete industrial chain layout.

Textile machinery industry scale

According to statistics from the China Textile Machinery Association, in 2019, the total assets of China's textile machinery industry was 107.229 billion yuan, an increase of 4.94% year-on-year. The revenue and profits of China'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 5.866 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 profits, the scale of my country's textile machinery industry as a whole shows an upward trend. With the in-depth adjustment of the industrial structure, 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, my country's textile machinery industry's main business income has declined compared with the previous year.

China Textile Machinery Import and Export

According to customs statistics, my country's total import and export of textile machinery in 2018 was 7.387 billion US dollars, an increase of 6.78% year-on-year. Among them: textile machinery exports were US $ 3.666 billion, up 7.20% year-on-year; imports were US $ 3.721 billion, up 6.36% year-on-year. From 2014 to 2018, my country's textile machinery exports showed a "steady and rising" trend, and the total amount of imports showed a downward trend. In 2019, my country's textile machinery imports and exports totaled 7.116 billion US dollars. Among them: textile machinery exports were US $ 3.783 billion, up 2.96% year-on-year; imports were US $ 3.333 billion, down 10.49% year-on-year. From 2014 to 2019, my country's textile machinery exports showed a "steady and rising" trend, and the total amount of imports showed a downward trend.

Product structure adjustment

In recent years, the domestic textile machinery product structure has been continuously adjusted. Automated and intelligent spinning machinery equipment that improves yarn quality, saves labor, has become the first choice for new projects in domestic textile companies, and rotor spinning machines, rapier looms and other products have outstanding performance. From 2015 to 2018, the overall domestic sales of major rotor spinning machines and rapier looms showed an increasing trend. In 2019, due to multiple factors such as the international trade situation and the slowdown in domestic and foreign market demand, the sales of domestic main rotor spinning machines and rapier looms have been steadily slowing down.