On July 17, 2025, polyester fiber industry giant Xinfengming (603225) announced that the company intends to increase its investment in Hefei Lif Biotechnology Co., Ltd. by 100 million yuan, after which it will hold a 7.0175% stake in the company. This capital marriage is not only a key layout for Xinfengming's strategy of "greening, differentiation, and innovation," but also marks a new stage in the industrialization process of bio-based polyester materials in China. Relying on Livan Bio's technological accumulation in the field of FDCA (2,5-furandicarboxylic acid), the two sides have previously achieved large-scale production of 100% bio-based polyester PEF filaments, providing a feasible technological path for the green transformation of the textile industry. 1. The logic behind investment: breaking through homogeneous competition. The recent investment by Xin Fengming is not a coincidence. As a global leader in polyester fiber with a total market value of 17 billion yuan, its traditional main business is facing increasing pressure from intensified homogenization competition. Biobased materials are seen as an important direction to break through this "involution." The announcement clearly states that the core goal of the investment is to explore the application of PEF in high-end biobased fibers and green packaging through Livi's FDCA technology, which aligns closely with Xin Fengming's strategy of "consolidating traditional businesses + laying out emerging industries." The core value of Lifeng Biotechnology lies in its technological barriers related to furan-based biobased materials. Since its establishment in 2014, the company has focused on the research and development of FDCA and its downstream product PEF. It has built the world's first kiloton-level FDCA production line and a hundred-ton level continuous production line, with a ten-thousand-ton production line under construction expected to be operational by the end of 2025, which will make it the largest FDCA supplier in the world. More importantly, its technological pathway has broken through industry bottlenecks—by using the "glucose-HMF-FDCA" process, it has eliminated dependence on expensive raw materials, and the product purity reaches 99.99%, with polymerization performance leading the industry. This technological advantage is directly reflected in the valuation logic: Liv Bio's post-investment valuation after the B1 round in 2023 was 768 million yuan, the pre-investment valuation reached 1.2 billion yuan, and the post-investment valuation has now exceeded 1.5 billion yuan. The announcement explains that the increase in valuation is supported by four core factors: the maturity of the continuous process using glucose as raw material, the globally leading quality of FDCA, the delivery capability advantage brought by the ton-level production line, and a clear cost reduction path—FDCA prices are expected to drop to 50,000-60,000 yuan/ton by 2025, and further down to 20,000-30,000 yuan/ton after 2027, gradually approaching the cost of petroleum-based raw materials. 2. Technical breakthroughs + capital support, PEF is about to be industrialized. Biobased polyester PEF is regarded by the industry as the best alternative to petroleum-based PET. Its chemical structural similarity to PET means it is compatible with existing production equipment, while its performance advantages are more significant: in addition to the low carbon attributes brought by being fully biobased, PEF fibers exhibit outstanding performance in moisture absorption and quick drying (with moisture absorption rates over twice that of PET) and natural antibacterial properties (with an antibacterial rate exceeding 99%). This makes it highly applicable in fields such as activewear and medical textiles. Image source: Livzon Biotech The breakthrough in large-scale mass production is the result of the combination of Xin Fengming's industrial capabilities and Lifu Biotechnology. Lif Biotech provides core raw material assurance: its FDCA products have a purity of 99.99%, exhibiting more stable reactivity during the polymerization process, laying the foundation for the physical properties of PEF filaments. Xin Fengming contributed mass production experience: As a polyester production expert, it solved process challenges such as melt fluidity and stretching and shaping in the PEF spinning process, transforming laboratory technology into industrial production capacity. According to OECD forecasts, by 2030, biobased products will replace 25% of the organic chemicals market. As a biobased material closest to PET, PEF is expected to rapidly penetrate fields such as textiles and packaging. Through this investment, Xin Fengming secures FDCA supply, effectively obtaining a "ticket" to the industrialization of biobased materials in advance. Opportunities and challenges coexist, and Livzon Bio is continuously in the red. Despite the promising prospects, this cooperation still faces numerous challenges. The announcement clearly outlines three major risks: 1. Market uncertainty: The acceptance and price sensitivity of bio-based materials still need to be tested by the market; 2. Production line commissioning risk: If Liv Bio's 10,000-ton FDCA production line cannot be put into operation on schedule, it will affect the scale-up process of PEF; 3. Profitability cycle issue: Liv Bio has been continuously losing money since its establishment (net profit of -55.3137 million yuan in 2024 and net profit of -13.3683 million yuan from January to March 2025), making it difficult to contribute profits to New Feng Ming in the short term. However, as technology continues to mature, these risks are gradually being mitigated. LivBio's losses are mainly due to early-stage R&D investments, but with the production of the ten-thousand-ton line and cost reductions, profit expectations are clear; New Fengming also controls risks through a "stakeholding rather than controlling" approach, while retaining flexibility for technological collaboration. More importantly, both parties have formed a closed loop of "technology R&D - raw material supply - mass production": LivBio is responsible for reducing FDCA costs, while New Fengming is responsible for expanding PEF application scenarios. This division of labor model provides sustainable driving force for industrialization. 4. FDCA industry financing heats up, capital races in the biobased track. FDCA, as a core raw material for bio-based polyesters, has become a hot track for capital competition. From the perspective of industry financing, multiple companies have received capital injection at different stages: Lif Biological has recently received 100 million yuan in a C-round financing from New Fengming; Tangneng Technology is expected to complete a B+ round financing in 2024, although the amount is unknown, it has support from Zhoushan Financial Capital and Daishan Investment Group; Zhongke Guosheng secured 200 million yuan in an A+ round financing in March 2025, with participation from CITIC Jinshi and PwC Capital; Yunshang New Materials, Saierke, and Yujun Bio have also respectively gained capital favor at the angel+ and B round stages. Behind the capital-intensive layout is a long-term optimism for bio-based materials to replace petroleum-based materials. Different rounds of financing reflect the development stages of enterprises: angel rounds focus on technology validation, A/B rounds promote capacity landing, and C rounds accelerate industrialization expansion. Xin Fengming's investment in Lifu Bio is not only an extension of its own strategy but also aligns with the rising trend of financing in the FDCA industry. By leveraging capital, it aims to deepen its bio-based polyester layout and work together with other companies in the industry to advance the FDCA-PEF industrial chain from technology development to large-scale application, seizing opportunities in the green materials revolution. With the production line of Livzon Bio's 10,000-ton FDCA coming online and the expansion of PEF application scenarios, this investment, which began with technological cooperation, is expected to reshape the global polyester material competition landscape. As stated in the announcement, this is not only a choice for enterprises to seek new momentum but also a practice to "contribute new quality power for the green development of the global textile fiber industry."

In recent years, the competition within the textile industry has intensified, and this year it has faced unprecedented internal and external challenges. It is clear to anyone with insight that limitless competition will only harm the industry, and even the last ones standing may not necessarily emerge as the winners.   Unprecedented wave of production shutdowns This summer, the textile industry experienced an unprecedented wave of production stoppages. In recent years, regions with rapid capacity growth, such as Xinjiang, northern Jiangsu, and Henan, have already seen significant shutdowns. These shutdowns also include some machines that were recently put into operation in the past two years, which have higher profitability than older machines and face substantial cost recovery pressure. They will only choose to shut down as a last resort. Some traditional textile clusters in the Yangtze River Delta region are relatively better off, with smaller scales of production stoppages. These companies have been operating for many years, so their customer base and product sales channels are relatively more stable. They also have a certain level of technological accumulation, allowing them to produce higher-end products, but there are still some measures in place to reduce production. According to normal market trends, this wave of production halts is expected to last for at least another month.   Unprecedented external challenges In addition, the black swan events that have occurred from time to time over the years, along with the increasingly advanced textile industry overseas, have brought unprecedented challenges to domestic textile enterprises. In terms of tariffs, the indiscriminate taxation imposed by the United States on the entire world is something that most people did not anticipate. As one of the most important textile consumption markets globally, the U.S. has universally increased tariffs on all textile-exporting countries. This not only has a significant impact on clients in the U.S., but also affects businesses engaged in domestic trade and those in other countries whose impact was originally minimal. When the U.S. reduces its orders, the companies that previously relied on U.S. orders will compete in other markets, driving prices lower and lower. In terms of shipping, the Red Sea crisis has not only increased freight costs due to the need to detour around the Cape of Good Hope, but it has also lengthened the shipping time, resulting in delays in the recipient receiving their goods. This, in turn, has effectively extended the payment terms and compressed cash flow. In terms of homomorphic competition, the textile industry in Southeast Asia and Central Asian countries has experienced rapid development in recent years and is naturally not satisfied with merely being an OEM. They are beginning to extend upstream and downstream in the industrial chain. If it comes to direct competition, Chinese enterprises are certainly not afraid, but they will also want to protect their domestic industries. This year, India has implemented restrictions on the import of Chinese textile machinery.   The survivor is not necessarily the king. There is a saying in the market: "The remaining ones are kings." It means that in the end of competition, the surviving enterprises can capture most of the market and become the winners. In the past few decades, there have been many examples of textile companies that turned around with just a few orders when they were in dire straits, so many textile companies hold on to this idea as well. Many textile enterprises are holding on, thinking that if they endure this period, everything will get better. But times have changed; in the current situation, merely surviving does not guarantee success. Currently, in the textile market, the production capacity of conventional products is the least valuable, and it is very difficult to eliminate this capacity. This surplus situation is expected to continue for a long time. Under the conditions of excess capacity, even if the market really shows signs of recovery, unless there are some companies that have already established a competitive advantage in certain aspects, it will be very difficult for most textile enterprises to earn excess profits.   The urgency to combat involution is imminent. In March of this year, the government work report explicitly emphasized the need to adjust the competition characterized by "involution"; on June 27, the new "Anti-Unfair Competition Law" was revised and will come into effect on October 15 of this year; on July 1, the Central Financial Committee meeting again proposed "anti-involution" competition, addressing the issue of chaotic low-price competition among enterprises and promoting the orderly exit of backward production capacity. On the same day, the magazine "Qiushi" published an article titled "Deeply Understand and Comprehensively Rectify 'Involutionary' Competition." The article states that "involutionary" competition confines various entities to a low-price, low-quality, and ineffective competition, breaking through the boundaries and bottom lines of market competition, disrupting market order, and allowing its development will lead to endless harm. In the case where the market's self-regulation fails, it is hoped that administrative measures can bring the textile industry back to a healthy development track.

In recent days, many places across the country have been experiencing high temperatures, making it unbearably hot. After sweating, clothes stick to the body, making it extremely uncomfortable. Is there a magical fabric that can make a person feel instantly cool when worn? Some brothers are there! It is——polylactic acid (PLA) fiber, a magical fiber from nature, known as "breathable fiber" by people. Today, let's have a good talk about polylactic acid (PLA) fibers and see how they bring us coolness in the scorching summer. Where does polylactic acid fiber come from? The raw materials for polylactic acid fibers are starchy agricultural products such as corn, wheat, and sugar beets. These agricultural products undergo fermentation to produce lactic acid, which is then processed through a series of complex techniques such as polymerization and melt spinning, ultimately transforming into the polylactic acid fibers we see. It can be said that polylactic acid fibers are fibers "grown" from the fields, and their birth process is filled with the wonders and wisdom of nature. From the perspective of sustainable development, the raw material sources for polylactic acid fibers are very abundant and can be continuously obtained through cultivation. When polylactic acid fibers are discarded, they can completely decompose into carbon dioxide and water in nature, unlike traditional chemical fibers, which impose a heavy burden on the environment. This characteristic of coming from nature and returning to nature makes polylactic acid fibers truly deserving of the title "green and environmentally friendly fibers." Why can polylactic acid fibers bring a cool feeling? Polylactic acid fibers have excellent moisture-wicking and breathability, which is one of the key reasons they can keep people feeling cool in the summer. Its surface has many tiny grooves and holes, and these microscopic structures act like countless tiny "highways," quickly guiding the sweat from the skin surface to the fabric surface, allowing the sweat to evaporate rapidly.   In comparison, ordinary cotton fabrics can absorb sweat, but the diffusion speed of sweat on cotton is relatively slow, and the evaporation is not fast enough, so wearing it often feels damp. In contrast, clothing made from polylactic acid fibers can quickly diffuse and evaporate sweat, keeping the fabric dry and making people feel particularly cool.   The thermal conductivity of polylactic acid fibers is also relatively low. Simply put, it is like building an insulating barrier for our body, effectively blocking the invasion of external heat. At the same time, when our body generates heat, polylactic acid fibers can promptly dissipate this heat, keeping our body temperature within a comfortable range. Antibacterial, mite removal, allergy prevention In addition to providing coolness in the summer, polylactic acid fiber has many other amazing properties. It has natural antibacterial, anti-mite, and anti-allergic capabilities. Polylactic acid fibers are weakly acidic, similar to the pH of the skin, and can slowly release lactic acid, which helps to remove dead skin cells, promote epidermal metabolism, and aid in collagen growth. In the clothing field, the application of polylactic acid (PLA) fibers is becoming increasingly widespread. Many sports brands have launched athletic apparel containing PLA fibers, such as T-shirts, shorts, and sports underwear. These sports garments not only possess excellent sweat-wicking and quick-drying properties, allowing athletes to stay dry during exercise and improve performance, but they also offer good comfort and breathability, making athletes feel more at ease while exercising. In the home textile field, polylactic acid (PLA) fiber also performs excellently. Quilts made from PLA fiber have good warmth retention and breathability, keeping you warm and comfortable in winter and preventing stuffiness in summer. Additionally, the natural antibacterial properties of PLA fiber help keep the quilt clean and hygienic, reducing the growth of dust mites, making it particularly suitable for individuals with allergies. How to choose products made of polylactic acid fiber When selecting products made from polylactic acid fiber, we can confirm by checking the product label. Generally, legitimate products will clearly state the composition on the label, and those containing polylactic acid fiber will be explicitly marked as "Polylactic Acid (PLA)" or "Corn Fiber" (polylactic acid fiber is also commonly referred to as corn fiber). Additionally, we can feel the texture of the product by touch and observation. Polylactic acid fiber products typically have a soft, smooth feel, and the fabric has a certain degree of luster. Although polylactic acid fibers have many advantages, they are not without flaws. Currently, the price of polylactic acid fiber products is relatively high, which somewhat limits their popularity. However, with the continuous advancement of technology and the expansion of production scale, it is believed that in the near future, the prices of polylactic acid fiber products will become more affordable, allowing more people to enjoy the comfort and health benefits they bring.

A shirt made of polyester fabric actually comes from recycled mineral water bottles. The garment features a rich variety of patterns and is comfortable to wear. This eco-friendly garment manufacturing technology has been widely adopted by Lutai Textile. "Well-known international brands like Burberry and Armani have established strategic partnerships with us. Burberry sources 90% of its shirt fabrics and trench coat linings from us. The market share of mid to high-end colored woven fabrics in export markets accounts for over 18% of the global market." Recently, the "Strengthening the Supply Chain to Benefit Enterprises · Quality Enjoyment in Shandong" media group visited the company’s processing plant to gain insights into the green technology products launched by Lutai Textile, such as recycled polyester and recycled cotton. This series of products achieves resource recycling and biodegradability, effectively protecting the environment while realizing zero waste and low carbon emissions, successfully addressing the environmental challenges faced by the textile industry and reducing energy consumption. Walk into the production workshop. In the factory area, the interview team observed that in the clean and bright workshop, dozens of small weaving machines were operating in an orderly manner. Each machine was equipped with a computer on its right side, displaying pattern designs and other data, while on the left side, automated "hands" were gradually forming different fabric samples with "every stitch and every thread." The entire cycle, including color yarn formulation, weaving process, and finishing inspection, could be completed in an average of five days. Lutai Group's current main products are closely aligned with the industrial positioning of "technology, fashion, and green." They have launched new products such as BlueECO-Mist, comfortable wrinkle-free, and Printedyarn. According to reports, the BlueECO-Mist series uses a salt-free and alkali-free environmentally friendly dyeing process, resulting in less pollution discharge, and the fabric mimics the effects of denim and dyed cotton yarn; the comfortable wrinkle-free series imparts a softer feel to the fabric, offering higher wearing comfort; the Printedyarn series utilizes various cellulose fibers, such as hemp, Tencel, and modal, and can process various high, medium, and low count yarns, especially excelling in high count yarns. The entire production process is green and environmentally friendly, reducing water and chemical additives usage, achieving salt-free dyeing. "In the process of setting carbon reduction targets in the textile industry, we have incorporated the added value of products into our considerations. At the same time, we strengthen the high-value utilization of old textiles, establish a comprehensive recycling, processing, and certification system for regenerated materials, and enhance standardized management within the industry to reduce environmental pollution," said Li Wenji, Deputy General Manager of Lutai Textile Co., Ltd. The company has received positive market feedback for its innovative research and development of self-cleaning fabrics, polar white fabrics, and cross-border knitting. In recent years, Lutai Textile has focused on tackling HCP green non-iron technology to create more wrinkle-resistant high-end fabrics. Additionally, leveraging the advantages of technological innovation across the entire industry chain, we have developed regenerated cotton, achieving zero waste and low carbon, effectively addressing the environmental challenges in the textile industry and saving energy and reducing consumption. Recycling Technology Series Taking recycled polyester as an example, its raw materials come from recycled mineral water bottles. The company compresses the sorted mineral water bottles into bricks, which are then transported to the rough processing workshop. In the rough processing enterprise, the bottles undergo cleaning, crushing, separation, and drying steps, transforming into white flakes. Next, the workshop workers treat the flakes through a series of techniques to produce yarn, which is then woven to create recycled fabric. Nowadays, the series of products using recycling technology have obtained GRS (Global Recycled Standard) certification. The production process is environmentally friendly and can effectively protect soil and marine environments, saving nearly 80% of energy compared to conventional polyester production. Recycled cotton products utilize fabric scraps from recycling companies, achieving resource recycling and biodegradability, effectively protecting the environment. The four-way stretch knitted series features richer patterns and textures, combining comfort with a sense of fashion. "According to estimates, every ton of recycled cotton can save 1,600 tons of water, 1,800 kilowatt-hours of electricity, reduce arable land by about 10 acres, and decrease the use of fertilizers and pesticides by approximately 32 tons," Li Wenji introduced. Thanks to breakthroughs in recycling technology, Lutai Textile's production and operational performance has consistently ranked among the top in the national textile industry. The company has been the top in China’s main business revenue for color woven fabrics for seventeen consecutive years, and it holds the largest market share in the mid-to-high-end color woven fabric market globally. Lutai has been recognized as a high-tech enterprise, a national industrial design center, a national enterprise technology center, and a CNAS national recognized laboratory, and is a "demonstration enterprise for champions in single-item manufacturing."

On July 16, the unveiling ceremony for the one-stop service platform for textile and clothing quality infrastructure in Zibo City, Shandong Province (Zichuan) was held at Zichuan Garment City. The platform is based on the textile and clothing industry foundation in the Zichuan District, jointly established by the Zichuan District Market Supervision Administration, the Municipal Market Supervision Administration, and the Municipal Inspection and Testing Measurement Research Institute, integrating resources from both municipal and district levels. It highlights the characteristics of specialization, precision, and convenience, creating a "one-stop" service system for quality infrastructure. The platform integrates eight major service functions: inspection and testing, standard services, metrology services, certification and accreditation, quality management, brand building, consumer guidance, and enterprise alliances. Through an integrated online and offline service model, it provides textile and apparel enterprises with one-stop, comprehensive, and high-quality technical support and services, achieving efficient sharing of technical resources and collaborative innovation in the industry, and building a bridge for enterprises to have "zero-distance" work communication and sharing of quality resources. At the event site, staff from the Zichuan District Market Supervision Administration of Zibo City provided a detailed introduction to the online website of the platform and demonstrated the core functional modules of the website through a live LED screen. Next, the local area will solidly carry out the operation and development work of the platform, ensuring that the platform effectively exerts its functions and becomes a strong technical support for empowering the upgrade of the local textile and garment industry and serving the quality improvement of enterprises.

Recently, Eastman launched the latest innovative product in its sustainable fiber portfolio: Naia Renew, used for filling applications, has not only achieved proven success in the field of bedding and towels but is now transforming bedding and towels with its breathable comfort, luxurious softness, and unparalleled ease of care. This represents a significant development in the application of Naia in home textiles, meeting the growing demand for high-performance and more responsible solutions. Naia Renew fiber is made using Eastman's molecular recycling technology and is produced through GRS-certified mass balance, containing 60% sustainably sourced wood pulp and 40% recycled waste. This innovative process reduces waste and carbon footprint while supporting the circular economy. Naia Renew has already gained recognition for its role in the high-end bedding and towel sectors, and it has now expanded into the filling applications field, setting new standards in comfort, performance, and sustainability. When it comes to performance, Naia Renew offers a unique combination of breathability and moisture management, creating a dry and relaxing sleep environment. As the human body produces moisture throughout the night, effectively managing trapped sweat is crucial for maintaining a peaceful microclimate. Naia achieves this by addressing every stage of moisture control: absorption, transmission, and evaporation. High-performance fibers effectively wick away and disperse moisture, while Naia's quick-drying properties create a continuously dry environment, preventing discomfort and supporting uninterrupted rest. This innovative insulating material features a unique Y-shaped fiber cross-section design, providing a fluffy, soft feel and better warmth retention, inheriting Naia fibers' moisture management and breathability. The fibers effectively absorb moisture without becoming saturated, ensuring lightweight comfort. This enables them to respond to all temperature and humidity changes that occur during the night, perfectly adapting to the body's and rest's needs. Naia Renew enhances the breathability of quilts, improving airflow and humidity management, outperforming traditional single-fiber fillings in vapor resistance and transmission tests. This fiber also delivers an ultimate softness, with a silky lightweight feel that brings unparalleled luxury, gently enveloping the body for exceptional comfort. Naia fibers are hypoallergenic and resistant to bacterial growth, reducing odors and keeping things fresh, ensuring the quilt remains clean and inviting. Additionally, Naia Renew fibers are machine washable and pest-resistant, providing a practical and durable solution for busy modern lifestyles. These features make Naia Renew a game-changer in home textile design, offering "all-night comfort" for bedding and quilt fillings, ensuring more lasting relaxation. About Eastman Eastman was founded in 1920 and is a global specialty materials company that produces a variety of products used in everyday life. Aimed at enhancing the quality of life through material means, Eastman collaborates with customers to provide innovative products and solutions while adhering to commitments to safety and sustainability. The company's innovation-driven growth model leverages world-class technology platforms, deep customer engagement, and differentiated application development to maintain leadership in attractive end markets such as transportation, building and construction, and consumer goods. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people worldwide and serves customers in over 100 countries. The company reported revenues of about $9.2 billion in 2023 and is headquartered in Kingsport, Tennessee, USA.

The slogan "Don't follow the conventional path" still resonates with the post-80s and post-90s generations in China, and many have a deep impression of Jay Chou's "non-mainstream" endorsement advertisements. These are all "tears of the era" created by Metisbonwe. On July 15, Shanghai Metersbonwe Fashion & Apparel Co., Ltd. (abbreviated as Metersbonwe, stock code: 002269.SZ) announced that it expects a net profit of 7 million to 10 million yuan for the first half of this year, a year-on-year decrease of 86.98% to 90.88%; the expected net profit excluding non-recurring gains and losses is 650,000 to 950,000 yuan, a year-on-year decrease of 88.3% to 91.99%. Affected by this news, Metersbonwe's closing price on the same day was 1.92 yuan, down 3.03%. Recently, the Shanghai Commercial Paper Exchange disclosed a list of overdue accepting parties, which includes Meibang Apparel. The list shows that in the first half of 2025, 889 accepting parties repeatedly had overdue behaviors, among which Meibang Apparel had a total accepting amount of 7.24 million yuan, an accepting balance of 7.08 million yuan, while the total overdue amount was as high as 103 million yuan. The criteria for defining overdue accepting parties are clear: if an accepting party has more than three instances of overdue bills within six months and has an overdue balance at the end of the month, or if it has overdue bills in the current month, it is considered an overdue accepting party. According to the relevant provisions of the "Operational Guidelines for Disclosure of Commercial Bill Information," the Shanghai Commercial Paper Exchange has suspended the commercial bill acceptance service authority of the company. If Mebon Apparel wants to restore the relevant authority, it must clear all overdue bills and strictly follow the requirements to complete the credit repair process. Tianyancha shows that Shanghai Metersbonwe Apparel Co., Ltd. was established on December 6, 2000, with a registered capital of 2.5 billion yuan and nearly 900 employees. The largest shareholder is Shanghai Huafu Investment Co., Ltd., holding a 33.43% stake. On June 25, 2025, the company became an executed party due to a partnership dispute, with a total amount of 797 million yuan to be executed, and the executing court is the Shanghai First Intermediate People's Court. The actual controller of the company is the founder of Metersbonwe, Zhou Chengjian, who was once the richest person in the apparel industry in mainland China in 2009 and 2010. The second largest shareholder is Zhou Chengjian's daughter, Hu Jiajia, who holds an 8.96% stake. Information shows that Hu Jiajia was born in 1986 and took over as the chairman and president of Metersbonwe in 2016. However, it is reported that starting from 2024, Hu Jiajia has stepped down, and Zhou Chengjian has taken the helm again, which is referred to in the industry as "reverse succession." The core brand Metersbonwe was established in 1995, marking its 30th anniversary this year. From the very beginning, the brand pioneered a virtual operating model combining outsourced production and franchise stores. The period from 2000 to 2010 was a golden era for domestic casual clothing, and Metersbonwe occupied key commercial areas through rapid expansion, using the slogan "Metersbonwe, not following the usual path." In 2003, they successfully gained attention by inviting the then "Asian King" Jay Chou as their spokesperson, deeply integrating into the first generation idol drama "Meteor Garden." They opened a super-large flagship store on Nanjing Road in Shanghai, becoming the brand with the highest market share in domestic casual wear. Jay Chou's past endorsement advertisements. In 2008, Meibang Apparel successfully went public on the A-share market, with a market value that once approached 40 billion yuan. The company also began a multi-brand strategy, launching sub-brands such as MECITY, MECITY KIDS, and Moomoo between 2008 and 2011. In 2011, the company reached its peak, with sales revenue of 9.9 billion yuan and a net profit of 1.2 billion yuan. By 2012, Meibang had over 5,000 stores, including 1,306 directly-operated stores and 3,914 franchised stores. Directly-operated stores were mainly located in first-tier cities, while franchised stores were primarily found in second-tier, third-tier, and lower-tier cities, earning the title of "King of Pedestrian Streets." Good times do not last long. With the rapid entry of foreign fast fashion brands into the domestic market and the swift spread of e-commerce shopping, Meibang Clothing's performance began to decline. In 2015, the company reported its first loss, amounting to 430 million yuan. In 2018, the company experienced a brief recovery, with industry insiders believing it was due to the second generation taking over and reshaping the company's brand and product style from a young person's perspective, but it was not sustained. In 2019, the company incurred losses again, exceeding 800 million yuan. From 2016 to 2023, the cumulative loss reached 3.1 billion yuan. As of April 2024, the number of Meibang Clothing stores nationwide has decreased to 607, with the average revenue per direct store being 2.3679 million yuan, a year-on-year decrease of 70.84%, and the average sales per square meter being 4,275.75 yuan, a year-on-year decrease of 64.70%. In 2024, Metersbonwe announced a repositioning of its brand from casual fashion to outdoor leisure fashion, updated its logo, changed its classic slogan from "Not Walking the Ordinary Path" to "Unordinary Outdoors, Youth at Ease," and even proposed a strategic positioning as an alternative to Arc'teryx, setting the goal of "returning to a billion-yuan scale within three years." On November 1, 2024, the brand made its debut on Taobao Live, with Zhou Chengjian personally stepping in to propose a strategy of "professional commentary + quality products" for live selling, pioneering a "group-buying coupon" business model. The premiere live stream garnered over 3.78 million views, with total sales exceeding 15 million yuan. Subsequently, Zhou Chengjian initiated weekly regular live broadcasts. Zhou Chengjian stands for outdoor new products in a "reverse succession". As of now, the official flagship store of Metersbonwe on Tmall has 11.21 million followers, with the best-selling item, a windbreaker, selling over 100 units per month at a price of 208 yuan. The product page indicates a waterproof index of 10,000 mm, which is far below the industry benchmark of 20,000 mm, leading outdoor enthusiasts to question it as "suitable for subway commuting" and lacking "technological attributes." According to Metersbonwe's financial report for 2024, the total annual revenue was 680 million yuan, a year-on-year decline of 49.79%, with a total profit of -191 million yuan, a year-on-year decrease of 715.45%. Compared to its peak revenue of 9.9 billion yuan in 2011, it has evaporated by over 90%. On July 9, news spread on Douyin stating "This time it's real @Zhou Tongxue is coming," causing the "Jay Chou concept stock" Giant Star Legend to surge by more than 100% at one point, with Meibang Apparel also hitting the daily limit. In an interview with the media last April, Zhou Chengjian mentioned, "Inviting Jay Chou to our live stream is something many Meibang consumers are looking forward to, and many partners are expecting as well. I think Jay Chou is also willing to do it. It is definitely possible to invite Jay back to our live stream again." The founder has lowered his stance, reaching out to a former spokesperson who is now a top influencer. Having once walked down an "unusual path" together, will the spillover effect of today's top influencer help 30-year-old Meibang find a way out?

Packaging manufacturer Amcor has teamed up with speciality paper manufacturer Fedrigoni to launch a fully recycle-ready flexible packaging solution for wet wipes. Amcor and Fedrigoni's new mono-material wet wipe packaging is fully recyclable in PE streams (Photo: Amcor) The product pairs Amcor’s AmPrima Plus flow wrap with Fedrigoni’s patented semi-rigid label to create a mono-material pack that can be recycled in polyethylene recycling streams across Europe. This development is in line with the goals of the EU’s Packaging and Packaging Waste Regulation (PPWR), which mandates that all packaging placed on the European market be recyclable by 2030. Marketing and R&D director at Fedrigoni Self-Adhesives, Federico Lanzi, said the collaboration is consistent with the company’s ESG strategy to 2030, “which aims to have 100% of materials designed for optimal recyclability and end-of-life recovery”. Certified as recyclable by both RecyClass and Institut cyclos-HTP, the new solution reduces packaging weight by up to 15% compared to traditional multi-material packs and cuts carbon footprint by as much as 55%, according to Amcor’s asset life cycle assessment, which is certified by the consultancy Carbon Trust. The design also supports cost savings for brands through lower extended producer responsibility fees, potentially reducing them by up to 35%, the company added.

German packaging machinery specialist KHS, in close collaboration with Canadian injection moulding machine manufacturer Husky, has unveiled an ultra-lightweight PET bottle for still beverages. In addition to the new ultra-lightweight bottle, KHS produces recyclable juice bottle made from 100% rPET (Photo: KHS)  Currently knows as Factor 101, the bottle weighs just 5.89 g while holding 591 ml – a 30% material reduction compared to standard lightweight bottles on the US market, the company said. According to KHS, to ensure structural integrity despite its minimal weight, the bottle features reinforced webbing, an optimised shoulder design, and a specially engineered base with a pop-in effect that boosts internal pressure and stability. It has a top load capacity of 220 newtons, making it suitable for high-speed production lines and transport demands. The companies’ respective technologies enabled precise temperature profiling and enhancements in preform design, according to the partners. “The bottle in this form is of particular relevance to contract fillers who operate under great cost pressure,” they said, adding that the prime target markets are the US, the Middle East, and South America.

Recently, the Russian company Ascon in Novosibirsk participated in the federal "Labor Productivity" project. By introducing lean production techniques, it significantly reduced the defect rate of PET preforms and shortened the production cycle. The project is being coordinated at the regional level by the Department of Economic Development of Novosibirsk Oblast.@Ban Hongfang As an important producer in the Russian PET packaging sector, Askon uses domestically produced Russian polyethylene terephthalate raw materials to specialize in the production of preforms in different weight specifications and with various neck geometries. Its end applications cover packaging for dairy products, drinking water, carbonated beverages, and vegetable oils. The company's current annual production capacity for PET preforms exceeds 700 million pieces, and its product supply network extends throughout the Russian market. Before project implementation, the enterprise faced multiple challenges such as high equipment downtime (reaching 25% per shift), increasing scrap rates, excessively long equipment debugging times, and capacity bottlenecks in the PET preform injection molding process. By systematically introducing lean production tools, key indicators were optimized: process cycle time was reduced by 32% (equivalent to saving over 40 days), and labor productivity per employee increased by 17%. Specific reform measures include: Establish a standardized operating procedure system, and develop visual equipment maintenance charts; Develop a parts positioning warehousing management system to achieve efficient material flow. Introduce a Single-Minute Exchange of Die (SMED) system to reduce equipment setup time by 10%. Configure automated sorting and inspection equipment to replace the traditional manual full inspection mode, significantly enhancing the effectiveness of quality control. The implementation of this national-level project has not only strengthened Аскон's manufacturing competitiveness in the polymer packaging sector but also provided an innovative model for regional industrial upgrading through the demonstration effect of lean management.

International News Digest: Raw Materials News​​-UBE Corporation Opens Specialty Materials Application Center in Osaka, Focusing on Nylon and Engineering Plastics​​ Automotive News​​-France’s April New Car Registrations Drop 5.6%​​ Packaging News​​-Launch of PP sealed cup for Nesco Medical News-Borouge and Mubadala Bio to supply polyolefins to boost UAE healthcare sector   Macro News​​-Vietnam Plans to Revise Cross-Border E-Commerce Tax, Ending Duty-Free Threshold for Small Parcels​​ Price Information - The central parity rate of the RMB against the US dollar was reported at 7.1894, down by 18 points. The following is an overview of international news: 1.UBE Corporation has established a Specialty Materials Application Center at its R&D center in Osaka, Japan, focusing on nylon and other engineering plastics. UBE Corporation recently announced the opening of a new building, the Specialized Materials Application Center, within its Osaka R&D Center located in Sakai City, Osaka Prefecture. This specialized materials application center is dedicated to efficiently and swiftly conducting all tasks from composite material development to application development. UBE Corporation intends to use this facility to provide innovative solutions, create new value, and collaboratively advance application development with its clients in response to societal and market demands. 2.In April, new car registrations in France decreased by 5.6% year-on-year. The data released by the French Automotive Industry Platform (Plateforme de la filière automobile, or PFA) shows that in April this year, despite the same number of working days as the same period last year, new car registrations in France still decreased by 5.6% year-on-year to 138,694 units. In the first four months of this year, new car registrations in France also decreased by 7.3% year-on-year to 548,782 units, a reduction of 43,099 vehicles. 3. Launch of PP sealed cup for Nesco German rigid packaging producer Jokey has developed a transparent, sealed cup in partnership with Turkey-based F&B service business Nesco Bubble Tea Company.The custom-made cup, developed for Nesco’s Popping Bubble Tea product, is produced from injection moulded virgin polypropylene and is designed to withstand an 88°C pasteurisation process for 40 minutes. 4.Vietnam plans to adjust cross-border e-commerce import taxes, and tax exemptions for small parcels may become a thing of the past. The Vietnam Chamber of Commerce and Industry (VCCI) recently submitted a comment letter to the Ministry of Finance of Vietnam regarding the draft decree on customs management of e-commerce import and export goods. In this document, the VCCI suggested discontinuing the regulation that exempts import tax for orders valued below 1 million Vietnamese dong (approximately 278 RMB). As a result, Vietnam will become the latest country to join the global "crackdown on small-sum tax exemptions," following Japan. 5.Borouge and Mubadala Bio to supply polyolefins to boost UAE healthcare sector    Borouge and Mubadala Bio to supply polyolefins to boost UAE healthcare sectorBorouge has signed a strategic cooperation agreement with Mubadala Bio, a life sciences company dedicated to pursuing better health outcomes for the UAE and beyond.The partnership will explore the supply of polyolefin materials to enable local manufacturing of medical products, reinforcing local manufacturing capabilities while contributing to the future of the UAE’s healthcare and life sciences sectors. 6. US toy makers struggle to survive The adjustment of U.S. tariffs reduced from 145% to 30% has not brought general benefits to the toy industry. According to CCTV reports, due to the instability of tariff policies, American customers are more cautious in placing orders than before. Recently, trendy toy company Super7 announced layoffs, toy store MudPuddles Toys closed branches, and toy store Kip's Toyland is struggling with operations. Many toy businesses in the U.S. are. (Note: The last part "" was not fully translated. The complete translation should be "are facing survival crises".) 7. INC-5 are approaching, with major countries holding divergent positions In August 2025, the fifth round of negotiations for the United Nations Global Plastics Treaty (INC-5) will resume in Geneva, Switzerland. Since the negotiations began in 2022, 175 participating countries have not yet reached consensus on the core provisions, and there are significant differences in their positions. As a major player in the global plastics industry, the United States has exhibited a clearly wavering stance.Oil-producing countries represented by China, Russia, and Saudi Arabia.Firmly oppose any form of plastic production restrictions.Moreover, the EU-led Plastic Ban Coalition has proposed the most radical governance plan: completely eliminating plastic pollution by 2040. India prioritizes development rights, explicitly rejecting any restrictions or taxes on virgin plastic polymers while strongly demanding that the transfer of funds and technology from developed countries be made a legal obligation. The Latin American Group, led by Brazil, has taken a middle path, showing openness to production limits but emphasizing the need for a just transition plan. They have innovatively suggested establishing a global network of plastic governance technology centers. 8. UPM and Orkla Finland: Co-create Panda Milk Chocolate High Barrier Paper-based Packaging Recently, a paper-based packaging product for Panda milk chocolate co-created by UPM and Orkla Finland has been fully launched on the shelves of supermarkets in Finland. This innovative paper-based packaging is based on UPM Asendo™ Pro 75g barrier paper, which not only meets excellent packaging functionality but also represents a significant step forward for the brand towards its sustainability goals. 9.Chemical recycling requires €400B investment to become competitive Chemical recycling may achieve cost parity with virgin plastics production in 20 to 30 years in Europe, a new report by US-based consulting firm Bain & Company has revealed. The following is overseas macro market information: 【The Reserve Bank of New Zealand announced an interest rate cut, reducing the policy rate from 3.50% to 3.25%, marking the sixth consecutive rate cut, in line with market expectations. 【The Peruvian government issued a statement: it will seek high-level meetings with China and Brazil to promote the "Two Oceans Railway" project, which aims to span the South American continent, connecting the Pacific and Atlantic coasts, and create a new trade corridor for China. The Peruvian Minister of Economy stated willingness to jointly fund the project, and has currently promoted the development of the Lima to Ica section, while studying the construction of multiple railway sections. Earlier in May, it was reported that China and Brazil were actively discussing feasible construction plans for the "Two Oceans Railway," with China showing strong interest in assisting with the project. 【 Japan's 40-year government bond auction results were released. After Japan's 20-year government bond had the worst auction since 2012, the bid-to-cover ratio for Japan's 40-year government bond hit a new low since last July. Following the auction results, Japan's 30-year government bond yield rose 10 basis points to 2.93%, the dollar/yen fell nearly 30 points in the short term, and the 10-year Japanese government bond yield increased by 6.5 basis points to 1.525%. 【Canalys: Q1 European smartphone shipments fell 2% Canalys' latest research shows that in the first quarter of 2025, European smartphone shipments decreased by 2% year-on-year to 32.4 million units, mainly due to weak demand for entry-level devices. Canalys stated that driven by Apple and Samsung, the demand for high-end models in Europe remained strong, with devices priced above 800 euros accounting for a record 32% in the first quarter. Price Information: 【Renminbi to US dollar middle rate】 The central parity rate of the renminbi against the US dollar was reported at 7.1894, down by 18 points. The central parity rate of the previous trading day was 7.1876, the official closing price of the previous trading day was 7.1949, and the night session closing price was 7.1955. 【Upstream raw material US dollar market prices】 Ethylene Asia: CFR Northeast Asia $780/ton; CFR Southeast Asia $850/ton. Propylene Northeast Asia: FOB Korea average price $750/ton; CFR China average price $785/ton. The CIF price of frozen goods in North Asia: propane is $544.5-546.5/ton; butane is $517.5-519.5/ton. South China frozen cargo CIF prices for June: Propane 619-629 USD/ton; Butane 564-574 USD/ton. The CIF price for frozen goods in the Taiwan region is $544.5-546.5/ton for propane and $517.5-519.5/ton for butane. 【LLDPE USD market price】 Film: $880/ton (CFR Huangpu) Injection molding: $990/ton (CFR Dongguan); 【HDPE US Dollar Market Price】 Film: $910-$930 per ton (CFR Huangpu). Hollow: 865-870 USD/ton (CFR Huangpu); 【 LDPE USD market price】 Film: 1035-1040 USD/ton (CFR Huangpu); 【PP USD market price】 Homopolymer: $905-$950/ton (CFR Huangpu); Copolymer: 955-1060 USD/ton (CFR Huangpu); Film material: 1025-1090 USD/ton (CFR Huangpu); Transparent: $1095/ton (CFR Huangpu); Pipe material: $1160/ton (CFR Shanghai).

On March 27, BASF announced the commissioning of the world's first commercial Loopamid plant. The production facility located at the Caojing site in Shanghai, China, has an annual capacity of 500 metric tons, marking an important step toward sustainable product supply in the textile industry. "The launch of this facility once again demonstrates BASF's innovative strength," said Dr. Stephan Kothrade, Member of the Board of Executive Directors and Chief Technology Officer of BASF. "As an integral part of our strategy, we use chemistry to develop solutions that address the biggest challenges of our time. Loopamid transforms textile waste into valuable resources, helping to conserve raw materials and close the loop in the textile cycle." Loopamid is a recycled polyamide 6 entirely based on textile waste. The new production facility supports the textile industry's growing demand for sustainable polyamide 6 fibers. "I am proud of our team, who have worked with great enthusiasm and dedication to bring loopamid to commercialization," said Ramkumar Dhruva, President of BASF's Monomers business unit. "The technology behind loopamid allows for textile-to-textile recycling of polyamide 6 in various fabric blends, including those mixed with elastic fibers. I believe loopamid not only makes a significant contribution to the textile circular economy but also helps our customers achieve their sustainability goals." Factory and Loopamid product GRS certification The new Loopamid factory integrated into the Shanghai Caojing Polyamide-6 plant. The production quantities of both the factory and Loopamid are in accordance with the Global Recycle Standard (GRS). This certification assures consumers and textile manufacturers that Loopamid is made from recycled materials and that the production process meets specific environmental and social standards. Additionally, the first yarn manufacturers are successfully using Loopamid. Industrial and consumer textile waste As the foundation of loopamid To produce Loopamid in the new factory, BASF is currently utilizing industrial textile waste from the textile production process and will gradually increase the share of post-consumer waste. These materials include cut edges, defective cut edges, leftovers, and other production textile waste from the textile industry. These materials are collected and provided to BASF by customers and partners. Discarded clothing made from polyamide 6 and other textile products can also be used for Loopamid production. All these waste materials are difficult to recycle because they typically consist of mixtures of different fibers, materials, dyes, and additives. Furthermore, for post-consumer waste recycling, buttons, zippers, and accessories must be removed in advance. BASF collaborates closely with partners and customers to accelerate the development of collection and sorting systems. About Loopamid BASF has developed an innovative solution through Loopamid to enhance the circularity of the fashion industry and recycle polyamide 6 textile waste. Thanks to its ability to tolerate all fabric mixtures including PA6 and elastane fibers, the technology behind Loopamid allows for textile-to-textile recycling of both post-industrial and post-consumer textile waste. Fibers and materials can be recycled multiple times, while maintaining material properties equivalent to those of traditional virgin polyamides.

On March 10th, the U.S. textile recycling startup Circ completed its latest funding round of $25 million. This round of funding was led by Taranis through its Carbon Ventures fund, with existing strategic investors including Inditex, the parent company of Zara, Avery Dennison, and others participating in the round. Circ states that the basis for this financing is the company's significant technical and commercial progress over the past 18 months. The new funds will help the company expand the scale of its recycling technology applications and continue to move forward towards achieving its goals and missions, turning the waste problem in the fashion industry into circular solutions. Established in 2011, Circ is headquartered in Danville, Virginia, the former textile production center of the United States. Through patented technology, the company recycles fashion waste into textiles to reduce the demand for raw materials used in clothing production. Circ's technology is capable of breaking down textiles and recycling cotton and polyester fibers, maintaining their integrity while transforming them into new materials. As one of the few companies capable of recycling polyester-cotton blended materials for reuse in textile production, Circ has successfully collaborated with companies such as Zara, Mara Hoffman, United Arrows, and Christian Siriano. Recycling polyester-cotton blends is currently one of the main challenges faced by the industry, as this type of fabric represents a significant portion, yet less than 1% of it is currently being recycled. Circ is on track to launch its first industrial-scale blended textile recycling factory, and this financing brings more than just funds. Taranis, a company under the Perenco Group, will also share its expertise in developing and operating large-scale industrial projects. Taranis is an investment and asset management company dedicated to sustainable industrial solutions, and it believes that Circ's model is a key step in reducing the environmental impact of global supply chains. In addition to financial investment, Taranis also directly validates Circ's processes to accelerate the transition from demonstration scale to industrial-scale production. Circ's CEO Peter Majeranowski said, "Circ's journey to industrialization requires us to build on mature technologies with the engineering, operational expertise, and strategic investment of like-minded partners. Their industrial know-how combined with our innovation enables Circ to accelerate the transition to a circular fashion economy."

BASF, biomass balance, flexible polyurethane foamBASF aims to integrate a series of bio-based balanced (BMB) products into the polyurethane value chain to meet the sustainability needs of the North American furniture industry.● Compared to BASF's traditional flexible polyurethane foam systems, the product carbon footprint (PCF) emissions are expected to be reduced by up to 75%.March 27, 2025 - BASF is expanding its product portfolio for the furniture industry with the introduction of biomass-balanced grades of Elastoflex® polyurethane systems. These mass-balanced products, along with multiple BASF plants, have been certified under REDcert2, including the recently certified Livonia, Michigan facility in the United States.Staci Wegener, Director of BASF's Polyurethanes Business in North America, stated: "Supporting our customers in achieving their sustainability goals is our top priority. With our new biomass balance products, our customers will now have access to products that replace fossil-based raw materials with renewable alternatives, offering the potential to significantly reduce the product carbon footprint compared to traditional polyurethane foam systems."The Elastoflex® polyurethane foam system is formulated to produce flexible foams for a variety of furniture applications, including seats, headrests, and armrests. The foam's unique structure provides optimal comfort while delivering ideal body support. The Elastoflex® BMB grades offer the same characteristics and performance as their fossil-based counterparts, without requiring changes to traditional processing methods.

The recent tariff policy implemented by the United States is bringing significant uncertainty to the global polyurethane industry. Starting March 4, 2025, the U.S. will impose an additional ad valorem tariff of 20% on all polyurethane raw materials originating from China (including Hong Kong) based on the current tariffs (including anti-dumping and countervailing duties).Impact on the global polyurethane market Due to the inflation expectations caused by the additional tariffs, domestic polyurethane suppliers in the United States are attempting to reflect these inflation costs in their Q2 quotations. Moreover, the increase in tariffs may suppress the demand for polyurethane products from downstream industries such as automotive, construction, furniture, and home appliances.Impact on major downstream industries1. Automotive industryAs a key downstream industry of polyurethane, automobile manufacturing is facing the impact of rising prices of polyurethane raw materials. The production costs of car seats, interior panels, coatings, thermal insulation materials, and even composite materials used for automotive lightweighting have all increased accordingly. To address this challenge, American automakers are adopting a diversified supply chain strategy and increasing their reliance on domestic products and raw materials to ensure supply stability.The use of polyurethane composite innovative materials helps to reduce the overall weight of vehicles and alleviate the pressure of rising metal costs. European and Asian automakers are also actively adopting localized production strategies to mitigate the impact of tariff increases and enhance supply chain resilience.2. Construction IndustryConstruction is another significant downstream industry for polyurethane, particularly in areas such as insulated panels and spray applications. Polyurethane is widely used from residential buildings to large commercial structures due to its excellent thermal insulation, durability, and versatility. However, the rising costs of polyether polyols and MDI are putting pressure on the construction sector, increasing the expenses of construction projects.Innovative Transformation of Key Industry PlayersFacing the pressure of additional tariffs and rising raw material costs, polyurethane companies are constantly seeking new development paths.BASF: Capacity Expansion and Sustainable DevelopmentBASF is expanding its capacity in Asia to counter cost pressures in Western markets and focusing on the development of sustainable products such as bio-based polyethers to better appeal to eco-conscious consumers. This move helps BASF maintain its competitiveness in sectors like automotive and construction, where environmental considerations are becoming increasingly prominent.Covestro: Advancing Specialty Chemicals BusinessCovestro is currently transforming its business towards high-value-added specialty chemicals to mitigate the impact of fluctuations in raw material costs. The company will focus on providing premium, high-performance polyurethane solutions to meet the high demand from the automotive industry and other downstream sectors for lightweight and energy-efficient materials.Huntsman: Collaboration and InnovationHuntsman is working with automotive and real estate companies to explore low-energy polyurethane solutions to alleviate the pressure from rising raw material costs. This includes providing lightweight, energy-saving foam systems for vehicles and insulation materials for buildings.Dow: Digitalization and Circular EconomyDow Chemical is enhancing its supply chain efficiency through digital transformation and reducing costs amidst tariff fluctuations. The company is also increasing its investment in polyurethane recycling and circular economy projects, providing sustainable material alternatives for industries such as automotive and construction, to reduce reliance on single raw materials and ensure production is not disrupted by price volatility.

On one side, there are enterprises investing billions and projects flourishing everywhere; on the other side, there are concerns about overcapacity and the market's ability to absorb it. Driven by environmental policies and market demand, recycled fiber projects are advancing at breakneck speed, yet underlying issues are quietly brewing.As a crucial component in driving the green and circular economy, the recycled fiber market has experienced unprecedented development opportunities in recent years. Textile companies supplying major brands like Adidas, Inditex, HM, and Uniqlo have felt this shift particularly keenly. Brands are increasingly demanding that suppliers provide more environmentally friendly fibers, with the annual usage of recycled fibers gradually increasing. Additionally, fabric exporters to the EU, affected by the ESPR set to take effect on July 18, 2024, face even higher requirements for the green and sustainable attributes of their fabrics.As a result, more and more upstream companies are making significant investments in related fields, among which leading enterprises have invested billions.Peipu Launches FixDye Eco-Friendly Recycled Polyester FilamentThe production capacity will reach 250,000 tons.On March 12, "Regeneration Recycles, Greening the Future — FixDye Eco-friendly Recycled Polyester Fiber Press Conference" was held at the National Exhibition and Convention Center (Shanghai). At the conference, PEPO Technology Group (REO-ECO) released the FixDye eco-friendly recycled polyester fiber.FixDye eco-friendly recycled polyester filament uses raw materials such as plastic bottles, waste yarn, and fabric scraps. Combined with 100% imported equipment from巴马格 (Barmag) and TMT, it employs advanced direct spinning technology to significantly shorten the production process while enhancing product quality. The recycled polyester filament includes high-quality yarns like POY, FDY, and DTY, which are widely used in apparel, home textiles, and other fields, meeting the market demand for high-quality recycled fibers.As an environmental technology company specializing in the recycling of polymer materials, Peipu boasts a 100% vertically integrated full-industry-chain factory, with an annual production capacity of 250,000 tons of recycled polyester filament. It focuses solely on the production of recycled products, ensuring the authenticity and traceability of its products. Meanwhile, Peipu actively adopts clean energy sources such as photovoltaic and wind power, striving to build a green factory and contribute to environmental protection. Currently, its ColorSpun project will realize the full-industry-chain production from waste bottles to recycled polyester colored filament (FixDye), with the first phase of spinning capacity reaching 100,000 tons and the total capacity reaching 250,000 tons. Huai'an City's Annual Production of 500,000 Tons of Recycled Polyester New Material ProjectJiangsu Lusikela New Materials Co., Ltd.'s 500,000-ton recycled polyester new material project has a total investment of 5 billion yuan. It will build a 500,000-ton/year engineering project for regenerating polyester new materials from waste polyester textile products, carried out in two phases. In phase one, an investment of 1.1 billion yuan is planned, with the purchase of 118,666 square meters of construction area on 118,667 square meters (approximately 178 acres) of land. This includes building a recycled polyester workshop, a sorting workshop for waste polyester textiles, raw material warehouses, a comprehensive office building, etc. By purchasing catalyst preparation systems, alcoholysis reactors, pre-polycondensation reactors, final polymerization reactors, drum dryers, extruders, spinning machines, air compressors, spinning equipment, and false-twist texturizers, a 100,000-ton/year reclaimed polyester new material engineering project will be established. The main process flow is as follows: Waste polyester (PET) textiles → Alcoholysis → Liquid phase viscosity increase → Regenerated polyester chips → Pre-crystallization, drying → Melting and spinning → High-speed winding → Recycled polyester POY → Texturizing → DTY filament. Supporting public and auxiliary projects will also be built. In phase two, an additional investment of 3.9 billion yuan is planned, purchasing 192,000 square meters (approximately 288 acres) of land to increase production capacity by another 400,000 tons/year of reclaimed polyester textile new materials.As a key industrial project in Hongze District, Huai'an City, the first phase of Jiangsu Lüsi Ke Lai New Materials Co., Ltd.'s annual production of 500,000 tons of recycled polyester new materials project is expected to be fully operational by June 2026. Upon reaching full production, the project is expected to achieve an annual sales revenue of 6 billion yuan and a tax revenue of 180 million yuan, providing strong support for Hongze District to build a leading national base for recycled polyester new materials.Sateri's annual production project of 300,000 tons of lyocell fiberOn March 7, the Silver Syndicate for the first phase of the 300,000-ton Lyocell fiber project by Sateri (Shandong) Fiber Co., Ltd. was signed.It is understood that the project is located in Yutai County, Jining City, and is invested and constructed by the Sateri Group under the Singapore-based Royal Golden Eagle Group. With a total investment of 11 billion yuan, the project has been included in the 8th batch of major foreign investment projects by the National Development and Reform Commission. The first phase of the project is led by the Industrial and Commercial Bank of China (ICBC) Jining Branch, which has formed a syndicate with eight other banks, including the Export-Import Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, Postal Savings Bank of China, Shanghai Pudong Development Bank, and China Minsheng Bank. This collaboration has achieved the "Spring Festival Acceleration," setting records for the fastest approval speed, the shortest syndication closure time, and synchronized fund disbursement and construction progress.It is reported that the project adopts the NMMO solvent closed-loop system independently developed by Sateri. In the production of Lyocell fiber, the NMMO solvent closed-loop system achieves efficient recycling through multi-effect evaporation and intelligent control technology: the washing wastewater is cooled, and impurities are removed by flotation, then concentrated by ion exchange and six-stage evaporation (with progressively reduced pressure), eventually recovering NMMO monohydrate with a purity of 99.7%. The degradation product N-Methylmorpholine (NMM) is regenerated into NMMO by adding H₂O₂ for oxidation, while inhibitors such as propyl gallate reduce solvent degradation.Upon full operation, the project is expected to generate an annual revenue of 10.4 billion yuan and create over 2,000 jobs. The plan includes the construction of four globally largest single-line cellulose material production lines, which will attract and cluster a group of upstream and downstream enterprises, forming a 50-billion-yuan textile new materials industrial cluster, leading the development of new productive forces in the textile industry.Hengxin Green Technology Co., Ltd. CR ProjectOn March 5, 2025, the Fuzhou Ecology and Environment Bureau announced the public notice regarding the proposed approval decision for the environmental impact assessment document of the construction project. The project is located in the Kemen Economic Development Zone of Lianjiang, Fuzhou City, and plans to build a production line for melting and depolymerizing waste fishing nets and other waste nylon products to produce regenerated polyamide 6 (PA6) chips, with an annual output of 7,000 tons of fully opaque regenerated PA6 chips.The CR project of Fujian Hengxin Green Technology Co., Ltd., a subsidiary of Hengshen Group, is centered on the group's independently developed nylon chemical recycling technology. It aims to establish a closed-loop recycling system for regenerated nylon T2T. Leveraging the pilot-scale verification already completed by the group, the project is being implemented on an engineering scale at the Shenyuan Integrated Industrial Park.The first phase of the project, expected to commence production in the first quarter of 2026, will establish a production capacity of 7,000 tons of chemically regenerated nylon, filling the gap in the domestic nylon T2T recycling sector. With a total investment of 379 million RMB, the project's long-term capacity is projected to reach 100,000 tons, showcasing Hengshen Group's unwavering commitment to sustainable development.The production in 2025 is expected to exceed 20 million tons.The green and low-carbon transformation of the textile and apparel industry is urgently needed. According to data from the United Nations Environment Programme, the carbon emissions of the textile and apparel industry account for 10% of global carbon emissions, exceeding the combined emissions of all flights and maritime shipping. Projections indicate that by 2030, when the global population reaches 8.5 billion, the carbon emissions of the textile and apparel industry may surpass those of the petroleum industry, becoming the largest source of carbon emissions. By 2050, the fashion industry is expected to consume over 30% of the global carbon budget. China's "Implementation Opinions on Accelerating the Recycling of Waste Textiles" sets targets for a 25% recycling rate and an annual production of 2 million tons of recycled fibers by 2025, with the recycling rate increasing to 30% by 2030.Additionally, the annual production capacity of regenerated cellulose fiber in 2023 was 7.8 million tons, and it is expected to increase to 10 million tons by 2025 (accounting for over 60% of the global total production capacity).In the field of recycled polyester, the market production scale of recycled polyester staple fiber in 2023 was 4.7 million tons, of which the production of conventional recycled polyester staple fiber was 1.88 million tons. It is projected to exceed 8 million tons by 2025. Including other recycled fibers such as recycled nylon and recycled spandex, China's total recycled fiber production may surpass 20 million tons by 2025. Recycled fiber is not just the present but even more so the future!

In 2024, as a key year for promoting the "14th Five-Year Plan" and an important year for the layout of comprehensive deepening reform goals, China's economic operations are showing a generally stable and progressively improving positive trend. High-quality development is steadily advancing, and the process of Chinese-style modernization is making solid strides. In this macro environment, the chemical fiber industry is taking positive actions and exhibiting a restorative growth trend, with significant positive changes in the main operational indicators of the industry. This year, China's economic operations are generally stable and progressing steadily, with high-quality development being solidly promoted and Chinese-style modernization making new solid steps. Against this backdrop, the chemical fiber industry is showing a trend of restorative growth, with major operational indicators achieving positive changes. Among them, the industry's average operating load is at a high level, and production is growing rapidly; in the face of increasing export pressure, chemical fiber companies are actively expanding international markets, achieving positive growth in export volume; economic efficiency has improved year-on-year, with annual revenue remaining above 1 trillion yuan, and operational quality has improved.I. Basic Situation of the Chemical Fiber Industry Operation in 2024High relative load and rapid growth in output.In 2024, the average operating load of the chemical fiber industry remains high, with an overall level higher than in 2023. In particular, the average operating loads of polyester direct spinning filament and nylon civilian filament are both above 90%, representing increases of 7.8 and 8.8 percentage points compared to 2023, respectively. In terms of stages: from March to April, downstream demand was better than expected, and most sub-industries in chemical fibers operated at high levels compared to the same period in previous years. However, high operating rates led to inventory accumulation and narrowed profits. Coupled with the onset of the off-season, demand weakened, and some polyester and polyester enterprises even reported losses, resulting in a decline in operating load from June to August. In September, the operating rates in downstream increased, leading to a slight rise in the operating load of the chemical fiber industry. The fourth quarter is expected to continue operating at a high level.In the context of a high production capacity base and high operating rates, the production of chemical fibers is expected to grow rapidly in 2024. According to statistics from the China Chemical Fiber Association, the production of chemical fibers in 2024 is projected to be 74.75 million tons, an increase of 8.8% year-on-year (Table 1). Among them, the production of polyester filaments and spandex is expected to grow by about 10% year-on-year, the production of nylon is expected to increase by 6.3% year-on-year, the production of viscose staple fiber is expected to grow by 5.8% year-on-year, and the production of lyocell fibers is expected to see a year-on-year increase of 27.4%.Table 1: Completion Status of China's Chemical Fiber Production in 2024(2) Terminal demand has achieved growth, but pressures have become apparent.In 2024, a package of policies was timely introduced, effectively boosting social confidence and significantly reviving the economy, leading to a moderate growth in domestic consumption of textiles and apparel. According to data from the National Bureau of Statistics, in 2024, China's per capita clothing consumption expenditure increased by 2.8% year-on-year; the retail sales of clothing, shoes, hats, and textile products above the designated size increased by 0.3% year-on-year, a decrease of 12.6 percentage points compared to 2023; and the online retail sales of clothing-related products increased by 1.5% year-on-year, a decrease of 9.3 percentage points compared to 2023.In terms of external demand, the competitiveness of China's textile industry chain continues to be released, effectively withstanding the relatively severe foreign trade situation, with a positive growth in exports for the whole year. Among them, due to concerns about the risks of the China-U.S. trade environment, some enterprises "rushed to export" in the fourth quarter, leading to an accelerated increase in exports during that period. According to data from Chinese customs, in 2024, China's total export value of textiles and garments reached $301.1 billion, a year-on-year increase of 2.8%. Among this, the export value of textiles was $141.96 billion, up 5.7%, while the export value of garments was $159.14 billion, up 0.3%. Overall, China's textile and garment exports to major markets performed well, but there were differences in performance; exports to major trading partners such as the United States, the European Union, and ASEAN showed good growth, while exports to markets like Japan, Turkey, and Russia experienced negative growth.From the perspective of the direct downstream of chemical fibers, the output of chemical fiber yarn and chemical fiber staple fabric increased by 8.2% and 3.4% year-on-year, respectively. In terms of the operating rates of major downstream industries (texturing, weaving, and polyester yarn), all have improved compared to 2023, with a noticeable increase in the operating rate of texturing. From the transaction volume in the light textile city, the average value is slightly lower than that of 2023.(3) Export growth rate was low at first and then high, showing a recovery trend for the whole year.According to data from Chinese customs, in 2024, the export volume of chemical fiber products reached 6.65 million tons, a year-on-year increase of 2.16% (Table 2), indicating a recovery in growth for the whole year. In terms of export destinations, the reduction in exports to India had a significant impact. In October 2023, India implemented BIS certification for polyester filament, leading to a surge in exports of polyester filament as companies rushed to export before the certification. In 2024, the export volume of polyester filament did not maintain the high growth trend of the previous year, with an annual decrease of 2.50%. However, excluding India, the actual exports of polyester filament to other countries and regions showed growth. Additionally, there were significant changes in the market share of chemical fiber exports (Figure 1), with shares for India and Turkey decreasing by 5.6 and 2.6 percentage points, respectively, while shares for Vietnam, Pakistan, and Egypt saw notable increases.Table 2 Major Import and Export Situation of Chemical Fiber Products in 2024Figure 1 Changes in China's major export market share for chemical fibersIn the first half of the year, the chemical fiber market was relatively stable, while cost support weakened in the second half.In 2024, oil prices fluctuated in the range of $66 to $87 per barrel (Figure 2). Geopolitical disturbances in the first half of the year led to a rising trend, with prices reaching a yearly high of $87 per barrel in early April. In the second half of the year, the Federal Reserve lowered interest rates, and market expectations of an economic downturn weakened demand, causing oil prices to continuously decline, dropping to a yearly low of $66 per barrel in early September. Subsequently, the market entered a phase of "oscillation and bottoming."Figure 2 WTI Oil Price Trend Chart for 2023-2024Although crude oil prices showed an upward trend in the first half of the year, the correlation between PTA, polyester prices, and crude oil prices was relatively weak, and the market fluctuations were relatively stable, with prices influenced more by supply and demand dynamics (Figure 3). In the second half of the year, as crude oil prices continued to decline, the support from the cost side weakened, and chemical fiber prices showed a downward trend. Taking the polyester chain as an example, the price of PTA decreased from 6015 yuan/ton at the beginning of July to 4760 yuan/ton by the end of the year, a drop of 26%; the price of polyester POY fell from 8015 yuan/ton at the beginning of July to 7040 yuan/ton by the end of the year, a drop of 14%.Figure 3 Price Trend of Polyester and Its Raw Materials from 2023 to 2024(E) Economic benefits have improved year-on-year, and operational quality has seen some improvement.In 2024, the economic benefit indicators of the chemical fiber industry have shown positive changes. According to data from the National Bureau of Statistics, the chemical fiber industry achieved operating revenue of 1,166.6 billion yuan, a year-on-year increase of 5.72%; the total profit reached 35.8 billion yuan, a year-on-year increase of 33.58%. However, as the low base effect gradually weakens, the profit growth rate is narrowing. The operating income profit margin is 3.07%, which, although still relatively low compared to recent years, shows an upward trend compared to the previous period. The chemical fiber industry contributes approximately 18.5% of the profits for the entire textile industry, an increase of 3.6 percentage points from 2023; the industry's loss ratio is 23.12%, a reduction of 2.4 percentage points from 2023, and the losses of loss-making enterprises decreased by 10.03% year-on-year (Table 3).From an industry perspective, the profits of the polyester, nylon, and cellulose fiber industries have significantly improved compared to 2023, contributing 48%, 18%, and 23% to the overall profits of the chemical fiber industry, respectively. Specifically, the polyester industry's profit levels faced some pressure in the first half of the year, but improved in the second half as processing margins gradually recovered. The nylon industry showed relatively stable profit levels, driven by strong demand in the outdoor and sports sectors, which boosted nylon consumption and created profit opportunities for the industry. In contrast, the overall profits of the spandex industry decreased noticeably; on one hand, this was due to the decline in raw material prices, and on the other hand, the introduction of new production capacity created supply pressure. Coupled with demand not meeting expectations, the industry's inventory levels are relatively high, leading to a downward trend in product prices.Table 3 Economic Benefits of the Chemical Fiber and Related Industries in 2024Fixed asset investment growth has rebounded, while actual新增产能 has slowed down.According to data from the National Bureau of Statistics, the fixed asset investment in the chemical fiber industry in 2024 is expected to increase by 4.7% year-on-year, compared to -9.8% in 2023. The investment growth has rebounded due to the low base effect. However, in terms of new capacity, 196,000 tons of polyester fiber will be newly invested in 2024, which alleviates the pressure of new capacity in the industry. In addition, industry enterprises are increasingly focusing on the upgrading and transformation of existing capacity towards high-end, intelligent, and green development, with solid and effective steps in transformation and upgrading.Figure 4 Changes in Fixed Asset Investment Growth Rate of the Chemical Fiber Industry from 2008 to 2024II. Outlook for the Chemical Fiber Industry in 2025From an external environment perspective, the global economy in 2025 will continue to be on a low growth trajectory. In March, the OECD revised its 2025 global economic growth forecast down from 3.3% to 3.1%. At the same time, global production and consumption costs are rising, international trade is hindered, global supply chains are becoming more fragmented, and the geopolitical situation is increasingly unpredictable, leading to greater uncertainty in the global economy.From the internal environment perspective, the "2025 Government Work Report" proposes expected targets, including: a domestic GDP growth of around 5%; a consumer price increase of around 2%; and synchronization of resident income growth with economic growth. To this end, the government will implement a more proactive fiscal policy, adopt a moderately loose monetary policy, strengthen the people-oriented direction of macro policies, and comprehensively expand domestic demand. It can be anticipated that precise macro policies will promote the improvement and optimization of China's economy, and the stabilizing role of the domestic market will become even more prominent.It is expected that by 2025, the domestic sales of textiles and apparel will continue to experience a stable but pressurized situation, while export pressures will significantly increase. Overall, the chemical fiber industry has the foundation to maintain stable operations, but still faces challenges such as intensified competition, greater operational pressures on enterprises, and increasing trade frictions. The entire industry needs to continue to unite and respond to these issues. The industry must fully stimulate internal motivation and effectively address cost and competitive pressures through self-discipline, technological innovation, product upgrades, and industrial transformation, while actively promoting stable and quality improvement in industry operations.

Against the backdrop of a constantly evolving global economic landscape, China's textile and apparel enterprises are accelerating their overseas expansion at an astonishing pace, with investment规模接近 100 亿元 in the past year. From Southeast Asia to Africa, from Morocco to Indonesia, Chinese textile giants are actively expanding their overseas presence in search of new growth points and competitive advantages.Reshaping the Global Textile Landscape: The "Going Global" Wave of Chinese Textile EnterprisesThe rapid growth of overseas investment by Chinese textile enterprises is an inevitable choice under the changing global economic landscape and the pressure of industrial transformation and upgrading in China. With the advancement of the "Belt and Road" initiative, Chinese textile companies must consider how to "go global," develop a global production network through overseas investments, and achieve sustainable development. In recent years, the scale of foreign investment in the Chinese textile industry has continuously expanded, covering the entire industrial chain and almost reaching every corner of the globe. In the context of tight domestic supply of production factors, Chinese textile enterprises are actively establishing raw material bases, processing factories, brands and channels, research and development centers abroad through various methods such as greenfield investments and capital operations, continuously building cross-border industrial and value chain systems, and enhancing resource allocation efficiency.According to statistics, in 2016, China's textile and apparel industry's outward foreign direct investment reached $2.66 billion, a year-on-year increase of 89.3%. From 2013 to 2021, the total outward investment of China's textile industry amounted to $11.08 billion, with an investment stock exceeding $13 billion, covering over 100 countries and regions worldwide, including Southeast Asia, South Asia, Central Asia, Africa, Europe, North America, and Australia. Over the past decade, China's textile industry has invested $6 billion directly in countries jointly building the "Belt and Road," accounting for approximately 50% of the industry's global investment share."The New Overseas 'Chessboard' of Textile Giants"Sheng Tai Group's investment in Morocco is a landmark event in China's overseas expansion of the textile industry. According to the announcement, Sheng Tai Group plans to invest no more than 2.29 billion Moroccan dirhams (approximately 1.716 billion yuan) to build a green textile industrial park integrating high-end cotton yarn, high-end fabrics, and high-end clothing production. The project is planned to have an annual production capacity of 100,000 spindles of high-end cotton yarn and 10,800 tons of high-end woven and dyed fabrics, covering an area of approximately 34 hectares.Nanshan Zhisang signed a joint venture contract with Indonesia's Taisin to establish a new garment production project in Indonesia, with an expected annual production of 160,000 suits and other garments; Hirono New Materials plans to invest 500 million yuan in Indonesia to build projects for the production of recycled colored fibers and in-situ colored fibers; Shenzhou International is investing $150 million in Vietnam to construct a high-end knitted fabric factory; Lutai Group has set up its first textile factory in Egypt with a total investment of $385 million.The "new engine" driving the textile industry's overseas expansionChinese textile companies choose overseas investment primarily for the low-cost advantage in these regions. Taking Vietnam as an example, the local labor costs are relatively lower, which can effectively reduce the company's labor expenditure. Additionally, some countries offer policy supports such as tax incentives, further lowering the company’s operating costs.At the same time, overseas investment can expand markets, get closer to the overseas market, respond quickly to market demands, and reduce the impact of transportation costs and trade barriers. For example, Lutai Group has established a factory in Egypt, with products being 100% for export, which helps it better explore international markets and enhance its global market share.In addition, overseas investment helps to improve the global supply chain layout. By investing in factories in different countries, Chinese textile enterprises can achieve optimal resource allocation and promote coordinated development of the upstream and downstream of the industry chain. For example, the Nanshan Zhishang project in Indonesia will use fabrics produced domestically and enhance the efficiency of the industry chain through effective linkage between domestic and international markets.Diverse Paths and Strategies for Textile Export.Chinese textile companies investing overseas primarily adopt forms such as greenfield investment, mergers and acquisitions (MA), asset purchases, and joint ventures. Greenfield investment involves setting up a new enterprise in the host country according to local laws, establishing new production units and production capacity. The advantage of this model is strong control and flexible operations for the company, but it requires thorough research into the policies and risks of the investment location. MA is aimed at acquiring the existing RD capabilities and marketing networks in developed countries to enhance product value-added and market competitiveness. The joint venture model helps in rapidly deploying production capacity and achieving transnational production capacity cooperation.From the perspective of the industrial chain, Chinese textile companies have invested abroad across nearly the entire supply chain, spanning from upstream raw materials to downstream finished products such as apparel and home textiles, as well as equipment manufacturing like textile machinery. Cotton spinning and knitting enterprises have established the most overseas production and processing bases, while investment projects in weaving, dyeing, woven garment, and chemical fiber sectors have also been increasing in recent years. Notably, outward investment and cooperation in the chemical fiber industry have shown significant growth over the past three years.Challenges and Responses for Going AbroadChinese textile enterprises face several challenges in overseas investment, such as trade friction, cultural differences, and policies and regulations. To address these challenges, companies need to gain a deep understanding of the market environment, policies, and cultural customs of the investment destination, and develop appropriate investment strategies. At the same time, the government should strengthen guidance and support for foreign investment, providing better services and protections for enterprises.The acceleration of overseas investment by Chinese textile companies not only benefits the development of the companies themselves, but also has a profound impact on the global textile industry landscape. In the future, as more companies join the ranks of overseas布局，请允许我修正一下最后一部分以确保翻译的准确性和通顺性，应该是“布局”应该改为“layout”或“planning”，但由于上下文中没有直接对应的英文词汇且根据语境理解应为“布局”，这里更恰当的表达可能是“entering the overseas market”. 因此，完整的翻译如下：The acceleration of overseas investment by Chinese textile companies not only benefits the development of the companies themselves, but also has a profound impact on the global textile industry landscape. In the future, as more companies join the ranks of those entering the overseas market, China's textile industry will play an even more significant role on the global stage.

On March 25, important news came from the Ministry of Commerce, where Li Gang, the Director of the Consumer Promotion Bureau, clearly stated that the Ministry of Commerce plans to significantly enhance the effectiveness of the export refund policy. In subsequent measures, the ministry will collaborate with relevant departments to release a series of targeted policy measures. This move aims to stimulate domestic consumption from multiple angles, with enhancing the effectiveness of the export refund policy becoming a key lever to boost inbound consumption.The exit tax refund policy refers to the policy of refunding value-added tax on goods purchased by foreign travelers at tax refund stores that are carried out of the country. Currently, this policy has been implemented in several provinces and cities in China, covering various product categories such as clothing, electronics, and handicrafts. This policy trend may bring new development opportunities for the export of plastic products in China. **Potential Impacts of the Plastics Industry on the Environment**1. **Pollution and Contamination**: The plastics industry is a significant source of pollution and contamination in the environment. Plastics can leach chemicals into waterways, harm aquatic life, and contaminate soil and air.2. **Climate Change**: The production and disposal of plastics contribute to greenhouse gas emissions, which exacerbate climate change.3. **Resource Depletion**: The extraction and processing of plastics require non-renewable resources, such as fossil fuels, which can lead to resource depletion and environmental degradation.4. **Waste Management**: The plastics industry generates massive amounts of waste, which can be difficult to manage and dispose of properly.5. **Human Health**: Exposure to plastics and their chemicals has been linked to various health problems, including cancer, reproductive issues, and neurological damage.6. **Food Waste**: The production and packaging of plastics contribute to food waste, as packaging materials are often not biodegradable or compostable.7. **Landfill Waste**: The plastics industry generates a significant amount of landfill waste, which can take hundreds of years to decompose.8. **Marine Life**: Plastics can entangle and kill marine life, and can also contribute to the spread of plastic debris in the ocean.9. **Economic Impacts**: The plastics industry can have significant economic impacts, including job losses, pollution costs, and environmental damage.According to data from the General Administration of Customs, in January 2025, the export value of plastic products was $10.13 billion, a year-on-year increase of 0.9%; the import value was $1.21 billion, a year-on-year decrease of 8.6%. In February, the export value of plastic products was $5.03 billion, a year-on-year decrease of 22.5%; the import value was $1.29 billion, a year-on-year increase of 7.8%. From January to February, the export value of plastic products was $15.16 billion, a year-on-year decrease of 8.3%; the import value was $2.5 billion, a year-on-year decrease of 0.8%, resulting in a trade surplus of $12.66 billion. Among these, plastic household products, packaging materials, and other products account for a certain proportion. Analysis suggests that if these products could benefit from an export tax rebate policy, it would further enhance the price competitiveness of China's plastic products in the international market.Export tax rebate rate for plastic products:The export tax rebate rate for plastic products depends on the specific commodity code. Below are common plastic products and their corresponding rebate rates:Value chain transmission effectUpstream raw material supply lines: PP, ABS, and other engineering plastics demand may increase.Manufacturing sector: The capacity utilization rate of export-oriented enterprises is expected to improve.End-user: Increased Price Competitiveness of Refundable Goods ② Implementation PolicyAccording to international experience, a well-implemented border tax-free trade regime can boost tourism and shopping consumption. For China's plastic industry,Short-term (within 1 year): Expected to boost export growth, primarily benefiting terminal products such as home goods and packaging.Mid-term (3 years): Promote industrial upgrading, environmental plastic products export market share expected to rise.Long-term: Assist in building a "dual circulation" development pattern to create a synergistic effect between international consumption center cities and manufacturing bases.It's worth noting that the implementation of the policy also requires the improvement of supporting measures. Plastic companies should prepare in advance for product certification, channel layout, and other tasks, while also enhancing the added value of their products to fully benefit from the policy.

1In recent years, the global plastic furniture and home decor market has shown a steady growth trend. According to industry analysis reports, the global plastic furniture market size is expected to reach 756.1 billion yuan in 2024, and is projected to expand at an annual compound growth rate of 2.8% from 2025 to 2029, with the Asia-Pacific region占据主要份额。In China, plastic furniture, as an important subfield of home plastic products, benefits from consumption upgrades and the urbanization process. It is expected that by 2025, the market size will exceed 50 billion yuan, with plastic patio furniture and foldable plastic furniture becoming the highlights of growth. In Southeast Asian countries like Vietnam, the rapid development of the construction industry has significantly increased the demand for imported plastic furniture, creating export opportunities for Chinese enterprises. These data indicate that the application of plastic furniture in the home decoration field is continuously expanding, and the market potential is enormous.2Technological innovation is the core driving force behind the development of plastic furniture and home decoration. Jerry Home Furnishings Hebei Co., Ltd. recently obtained a patent for "a wood-plastic wall panel." Through the design of a moisture-proof structure with built-in activated carbon adsorption columns, the moisture-proof performance of the wood-plastic wall panel is improved, and its service life is extended, providing a new example for the application of plastic composite materials in home decoration walls.At the same time, the company actively explores sustainable and circular business paths, such as the furniture company from Zhejiang Forest House, which uses recycled materials from old household appliances to create the "Fuschia Chair". Through the "Disassemble - Second Disassemble - Wash - Melt" process, the materials are recycled and reused to produce high-quality plastic furniture. The chair has not only been certified by international environmental standards, but has also become the official chair of the Paris Olympic Games, shipping to over 70 countries and regions.3Driven by both market demand and policy guidance, the plastic furniture and home decoration sector is undergoing profound changes. The "Three-Year Action Plan to Accelerate the Development of 'Bamboo for Plastic'" issued by the National Development and Reform Commission and other departments encourages the furniture industry to reduce the use of plastic and promote bamboo alternatives.This policy has encouraged enterprises to increase their RD investment, driving material and process upgrades, such as expanding furniture design through bamboo applications, reducing plastic dependency. Furthermore, consumers' pursuit of environmental friendliness and personalization has forced enterprises to innovate, with plastic furniture design increasingly focusing on fashionability and smartness, a plethora of modular combination furniture, adjustable tables and chairs, etc., emerging to cater to various scenarios.Despite the competitive pressure from alternative materials such as "bamboo代替plastic," plastic furniture still holds irreplaceable advantages in the home decoration sector. Its features, such as rich colors, diverse designs, lightness, and durability, continue to make it popular in scenarios like outdoor leisure and public spaces.With the advancement of technology, the environmental performance of plastic furniture has continuously improved. The application of new materials such as recycled plastics and bio-based plastics has further enhanced its market competitiveness. In the future, the plastic furniture and home decoration industry will continue to expand its application scenarios under the dual drive of technological innovation and sustainable development, providing consumers with higher quality and more environmentally friendly products, and contributing to the green transformation of the home industry.