Under the economic downturn, the textile and garment sector has become a "safe haven" for funds"

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Due to the market's concerns about the domestic economic slowdown, high inflation, local financing platforms and foreign debt crises, the-share market has fallen under pressure recently. The Shanghai Composite Index fell 2.19 per cent in July, while the Shenzhen Composite Index fell 0.99 per cent. As of August 11, the decline in the Shanghai Composite Index has widened to 5.65 per cent and the Shenzhen Composite Index has plunged 4.51 per cent, affected by the negative turmoil of Standard & Poor's downgrade of the US sovereign credit rating.

In the market a pessimistic voice, the textile and garment sector rose against the trend. Benefiting from the optimistic expectation of funds for the concept of "big consumption" in the second half of the year, the textile and clothing sector rose 3.42 percent in July, ranking fifth in the list of major sectors, with outstanding performance in brand clothing and home textiles in the sub-industry.

Under the "escort" of domestic demand, a number of data show that the overall trend of the textile and garment industry in the first half of the year is good, and the sales growth rate of home textile and clothing has slowed down the market's concern about the deviation of volume and price caused by price increase. In addition, the sharp decline in raw material prices and the recovery of product exports have also laid the foundation for the textile and apparel sector to go out of the independent market.

A- share market under pressure funds to avoid "big consumption"