While the growth rate of the global economy remains slow, the domestic market in China has shown promising figures after the Chinese government implemented measures to encourage household consumption. These include providing support to both the home industry and consumers, to develop sustainable, intelligent and healthy living environments. Loan procedures for home refurnishing and funding for related industry sectors have also been optimised. Against this backdrop, for the first eight months of 2023, China Customs recorded a 7% year-on-year increase in consumables retail sales, reaching a total of RMB 3 billion (around USD 410 million). Homing in on the textile sector, profitability is regaining momentum, driven by both the local market and the success of international trade agreements such as Regional Comprehensive Economic Partnership (RCEP).

Echoing the market sentiment, Ms Rosemary Li, Domestic Sales Manager of Zhangjiagang Coolist Life Technology Co Ltd, said at the 2023 spring fair: “After China eased its control measures, we have clearly noticed changes in the industry. Both our domestic and export orders have increased, and we are struggling to meet the demand with our production capacity. From what I have experienced, the recovery of the domestic home textile industry has been relatively fast. Our clients are mostly concentrated in the home textile sector, and they have been doing good business this year too.”

The previous edition also provided an opportunity for international buyers to re-engage with Chinese suppliers. “This is my first time visiting Intertextile Shanghai Home Textiles since the pandemic started,” said Mr Mihail Tornea, Commercial Director for Mezanin-V SRL, a buyer from Moldova. “We have been sourcing fabrics for home and contract products, and found six almost-confirmed suppliers. We are aiming to spend USD 3 million on Chinese textile products this year. Thanks to China reopening, we can source products of better quality, quantity, and price.”