Maintaining the recovery trend of light industry and boosting the confidence of private enterprises

2024-04-15

The China Light Industry Federation recently released the performance of China's light industry economy in the first two months of this year, showing a significant increase in the development momentum of consumer goods manufacturing, driving the sustained recovery and positive trend of the light industry economy. This positive change is not only reflected in the growth of the number of light industry enterprises above designated size and the improvement of operating income, but also in the leap in profit level and the steady growth of export delivery value. The emergence of this phenomenon cannot be separated from the joint promotion of multiple factors, such as the recovery of household consumption, the boost of confidence in private enterprises, and the recovery of the operation of small and medium-sized enterprises. The rebound in household consumption has injected strong endogenous power into the recovery of light industry. Light industry mainly refers to the industry that produces consumer goods, covering multiple fields such as food, clothing, housing, transportation, play, entertainment, and education. The level of activity in the consumer market is directly related to the development of light industry. With the continuous release of macroeconomic combination policy effects, people's consumption confidence has been significantly restored, and consumer demand has been released. According to data released by the Ministry of Commerce, the total retail sales of consumer goods in China from January to February 2024 reached 8130.7 billion yuan, a year-on-year increase of 5.5%. Among them, the consumption of catering, tourism, cultural and sports services has grown rapidly, while new types of consumption such as digital consumption and health consumption are flourishing. The rebound in consumer spending and the improvement in domestic demand have naturally led to a surge in sales of light industrial products. From a data perspective, the retail sales of 11 categories of light industry commodities reached nearly 1.3 trillion yuan, a year-on-year increase of 5.2%, fully reflecting the improvement of domestic consumer demand and the enhancement of market vitality. In addition, the continuous growth of online consumption has also brought new opportunities for the development of light industry. In the first two months of this year, the online retail sales of physical goods exceeded 1.8 trillion yuan, an increase of 14.4%, accounting for 22.4% of the total retail sales of consumer goods in society. This data not only reflects the huge potential of the online consumer market, but also demonstrates the positive achievements of light industry in digital transformation and innovative consumption scenarios. The boost in confidence of private enterprises has provided strong support for the recovery of light industry. China's light industry has a wide coverage and many private enterprises. Boosting the confidence of private enterprises is crucial for the stable development of the entire industry. With the continuous recovery of the macro economy and the continuous optimization of the policy environment, the development space of private enterprises has been further expanded. From a data perspective, there are over 130000 light industry enterprises above designated size, achieving a revenue of 3.26 trillion yuan, a year-on-year increase of 4.1%, reflecting the optimistic expectations and increased confidence of private enterprises in the market outlook. The boost of confidence in private enterprises not only contributes to their own development and growth, but also injects strong impetus into the healthy operation of the entire light industry and even the national economy. At the same time, the innovative vitality of private enterprises has also added new momentum to the recovery of light industry. Faced with increasingly fierce market competition, private enterprises are paying more attention to technological innovation and product upgrading, continuously increasing the application of digital, networked, and intelligent technologies in production and sales to cope with market changes and the diversified and high-quality needs of consumers. In recent years, new home products such as green and intelligent home appliances, healthy kitchens and bathrooms have emerged one after another. Local traditional cuisine, specialty snacks, and others have transitioned towards prefabrication. The variety of functional elderly clothing and clothing, intelligent daily auxiliary products, and other new elderly products has been continuously enriched, which has not only promoted light industry production

Edit:GuoGuo    Responsible editor:FangZhiYou

Source:gmw.cn

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