Affected by sluggish demand in major international consumer markets and geopolitical conflicts, China's textile and garment exports weakened in October, down 8.4% year-on-year, the decline expanded again compared with 6.5% last month, but it is still relatively moderate compared with the decline of more than 10% from May to August. Exports to the United States increased for the second month in a row, although exports to ASEAN continued to decline, but the decline in exports of yarn fabrics has narrowed for three months in a row, and exports to Bangladesh, Egypt and Central Asia and other important node countries of the "Belt and Road" maintain rapid growth. Four categories of commodity yarn, fabric, home textiles and woven clothing exports increased for the third consecutive month this month, and the decline in export prices of three categories of commodities except fabrics narrowed. From the data of January to October, the cumulative export value was 245.71 billion US dollars, down 9.2% year-on-year. Overall, although the decline has expanded this month, the overall trend of textile and garment exports to stabilize has not changed.

At present, China's economy continues to recover and the overall recovery trend is more obvious, and the state's measures to promote economic development and support private enterprises are constantly being implemented. A number of measures have been introduced to facilitate people-to-people exchanges between China and the United States. Regular flights between China and the United States have resumed to 70 per week. People entering China will be exempted from filling out health declaration cards from November 1, and unilateral visa exemption will be implemented for France, Germany, Italy, Spain, the Netherlands and Malaysia from December 1. Tax authorities have optimized export tax refund services, and the efficiency of export tax rebates has become higher and higher. In terms of the external environment, China's geopolitical pressure has eased recently, China and the United States have frequent exchanges at various levels, and the foreign ministers' meeting of China, Japan and the ROK has been held again after four years. This is of great significance to managing differences and stabilizing relations between China and relevant countries, and will also help stabilize market and business confidence.

However, the adverse factors affecting the export growth in the next stage should still be paid attention to. Macro-aggregate demand is insufficient, and micro-entities' business environment has not been fundamentally resolved. The foundation of the US economic recovery is not yet solid, the European economy lacks momentum, and the Japanese economy is still in trouble. The external situation is unstable, there is no sign of a truce in the Russian-Ukrainian war, and the Palestinian-Israeli conflict has intensified market concerns about the safety of shipping in the Red Sea and the Suez Canal. At the same time, despite the recent stabilization of Sino-US relations, the United States will accelerate the "nearshore" layout of the supply chain, and the strategy of "decoupling and breaking the chain" will not change fundamentally, which will further suppress China's export share.

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