1、 THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.GOVERNMENT POLICY Required Report:Required-Public Distribution Date:April 02,2024 Report Number:CH2024-0053 Report Name:Cotton and Products Annual Country:China-Peoples R
2、epublic of Post:Beijing Report Category:Cotton and Products Prepared By:FAS China Staff Approved By:Adam Branson Report Highlights:Marketing year(MY)24/25 cotton imports are forecast at 2.4 million metric tons(MMT)on higher domestic and international demand for textile and apparel products.After a s
3、harp decline in early 2023,exports of textile and apparel products have rebounded,along with demand for imported cotton.Imports for MY 23/24 are raised to 2.3 MMT on strong demand and quota availability.Production for MY 24/25 is forecast at 5.9 MMT on stable planted area in Xinjiang and declining p
4、lanted area in other regions.Executive Summary:The Peoples Republic of Chinas(PRC)target price-based subsidy for Xinjiang cotton will continue to support regional planted area and production.Production outside Xinjiang is expected to continue to decline due to less advantageous subsidies,lower price
5、s and quality,higher input costs,and competing crops.Xinjiangs share of Chinas cotton production reached 90.9 percent in MY 23/24,up from the 90.2 percent the previous year,according to the National Bureau of Statistics(NBS).Chinas 2023 textile and apparel exports declined 8.2 percent year-on-year,w
6、eighed down by weak overseas and domestic demand.However,exports gained momentum beginning in August 2023 and by December had reached$25.3 billion,up 2.6 percent from the same period in 2022.This trend continued in the first two months of 2024 with combined export value of$45.1 billion,a year-on-yea