By the end of December 2025, China's foreign exchange reserves steadily rose to over 3.35 trillion US dollars, and its gold reserves also increased for 14 consecutive months, reaching 74.15 million ounces. The simultaneous improvement of these two sets of data has brought positive macro signals and substantive support to the textile industry, which has a high degree of dependence on foreign trade.

The stable and abundant foreign exchange reserves provide a solid "safety cushion" for the RMB exchange rate. Against the backdrop of the Federal Reserve's interest rate cut and the fluctuation of the US dollar index, the RMB exchange rate has maintained a stable operation trend. This is particularly important for the textile industry, which accounts for over 30% of its exports and mainly settles in US dollars. The relative stability of exchange rates significantly reduces the risk of exchange rate fluctuations that enterprises face during the cycle from order receiving to collection, which helps lock in profits and reduce exchange losses. For instance, some textile enterprises in Jiangsu and Zhejiang regions have indicated that, benefiting from the stabilizing exchange rate environment, their foreign exchange costs have decreased significantly year-on-year. Meanwhile, a stable exchange rate also enhances the quotation competitiveness of enterprises in the international market, which is conducive to enterprises' more flexible pursuit of orders.

The central bank's continuous increase in gold reserves not only optimizes the structure of national reserve assets but also sends a signal to the market that it is enhancing financial resilience. As a traditional safe-haven asset, the price trend of gold has a relatively low correlation with textile raw materials, which provides new ideas for textile enterprises to manage risks. Stronger enterprises may consider incorporating gold as part of their diversified asset allocation to hedge against risks such as fluctuations in raw material prices. In addition, the accumulation of gold reserves helps enhance the credit of the RMB and promote its internationalization process, thereby creating conditions for textile enterprises to use the RMB more for settlement in cross-border trade and reducing their reliance on a single currency and related settlement costs.

Of course, apart from the macro benefits, the textile industry still faces multiple challenges such as intensified international competition, rising costs and green transformation. Enterprises need to proactively seize opportunities, actively optimize market layout, and utilize regional trade agreements to explore diversified markets. At the same time, we will strengthen internal cost control and focus on upgrading to high value-added areas such as functionality and green environmental protection to enhance the resilience of the industrial chain.

Overall, the stable performance of foreign exchange reserves and gold reserves has created a more favorable financial and exchange rate environment for the textile industry. Enterprises should take this opportunity to consolidate their development foundation, transform macro dividends into the internal driving force for high-quality development, and move steadily and far in the complex external environment.

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