China's textile industry is likely to have an unprecedentedly long Chinese Lunar New Year holiday

Affected by the macroeconomic recession and COVID-19, China's textile industry is likely to have an unprecedentedly long Chinese Lunar New Year holiday since the 21^st century. According to recent market feedback especially that from weaving, dyeing and finishing segments of the industrial chain, there are rumors about taking a holiday ahead of time by enterprises in many areas nationwide. Judging from the investigation, some companies may start to take a holiday since mid-Dec, but according to the actual situation, the vacation may not start as early as they have announced.

It is a big deal of taking holidays by enterprises. Finance, personnel, safety, energy, supporting facilities, corporate image, related responsibilities and other issues need to be considered, and it is by no means a simple cost calculation. Since there are still 54 days before the Chinese Lunar New Year (Jan 22, 2023), even though some companies have already begun to make relevant considerations, there are still large variables in the actual implementation. But what is basically certain is that the Chinese Lunar New Year holiday of 2023 may be significantly advanced.