The furniture industry is an important industry in China economy and people’s livelihood. It has significant international competitiveness of the industry, to meet consumer demand, improve the quality of life, promoting international trade, full employment, promoting regional economy and building a harmonious society.So it has played an important role. With the improvement of the income level of the residents and the gradual attention to the living environment, the consumer’s individualized demand for furniture is increasing. Custom furniture has become a new fast growing point of furniture consumption in recent years, which relies on the efficient use of home space, the full consumption of personalized consumer needs and the strong sense of modernity.
“China furniture industry” 13th Five-Year “development plan” proposed the furniture industry “13th Five-Year” during the main goal:
The furniture industry should take the initiative to adapt to the new normal economy, accelerate the transformation of the way of development, and maintain the stable development of the industry. In the stage of rapid development, while maintaining stability is the general tone of the development of the furniture industry, the main business to maintain average annual revenue growth of about 9%-10%.
Furniture industry should further strengthen trade and exchange, adapt to the new international situation, fully create industry forces, actively respond to trade frictions, enhance product value-added and foreign trade level. We should continue to consolidate and enhance the dominant position of Chinese furniture in the international market, and maintain the annual growth of 3%-5% of furniture export value.
The furniture industry should excavate the subdivision area and plough the domestic market. We should fully digest and understand the national policy planning, constantly adjust the direction of the development of the industry, and adapt to the diverse consumption needs of the people. We should continue to expand consumption demand, release the potential of consumption, and keep the annual average 8%-10% growth of the retail sales of furniture.
Moreover, a clear plan has been made for the profit level. The profit rate of the main business of the furniture industry has reached 6% annually, and the total profit has increased by more than 15% annually.
According to the data, by the end of 2017, China furniture industry has reached 6000 enterprises above the scale, and it has increased by 39 compared with the previous year. At the same time, the loss of 608 enterprises, 108 more than the same period last year, the loss of 10.13%. The total amount of loss in China furniture industry was increasing, and the total loss in 2017 had reached 2 billion 250 million yuan, up by 320 million yuan over the same period in 2016.
According to the Institute of industrial monitoring data show that in 2017 China furniture industry above scale enterprises realized main business income of 905 billion 600 million yuan, an increase of 10.1%, down 1.5 percentage points compared with the previous year. The total profit of the furniture industry reached 56 billion 520 million yuan, a year-on-year increase of 9.3%, a 1.4 percentage point increase compared with the previous year.
In recent years, the profitability of China furniture industry tends to be stable. In 2017, the gross profit margin of China furniture industry reached 15.5%, which increased by 0.4 percentage points compared with the previous year, and the furniture industry sales profit rate reached 6.2%. Compared with the previous year, it dropped by 0.1 percentage points.
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