Looking forward to the fourth quarter, the development of printing and dyeing industry is still facing more risks and challenges, but the overall view of the industry has the foundation and conditions to achieve stable development. First of all, the world economic situation is still complicated. Although global inflation continues to fall, the interest rate cut cycle in major economies has just started, which is still insufficient to drive economic growth and support demand recovery. Second, geopolitical tensions have long-term disruptions to the efficiency of international trade, which could affect global growth prospects. In addition, the potential tariff policy of the United States and Western countries will further accelerate the adjustment of the global textile industry chain supply chain, and the export of China's printing and dyeing industry will be further pressured.

In the complex and severe situation, the national level has intensively introduced and strengthened the implementation of various stable growth policies, providing fundamental support for the continued recovery of the industry to a good trend. In particular, in late September, the Political Bureau of the CPC Central Committee held a meeting, and accelerated the introduction of a package of well-targeted incremental policies, which enhanced market confidence, improved market expectations, and stimulated market vitality. From the perspective of some leading indicators, the fourth quarter economy has shown some positive changes, such as in October, China's manufacturing industry recovery level, PMI index returned to the expansion range, in October, China's textile and apparel cumulative exports increased by 1.5%, the growth rate increased by 1.0 percentage points compared with September. With the continuous strength of the stock policy and the incremental policy, China's economy will continue to recover, the consumption potential of the super-large domestic market is expected to be continuously released, and the economic recovery foundation of the printing and dyeing industry will be further consolidated and improved.

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