纺织服装行业周报：政策强调全面扩内需，继续看好消费反弹

Investment Rating - The report maintains a positive outlook on the textile and apparel industry, indicating a "Look Forward" investment rating due to anticipated consumption rebound and policy support [1]. Core Viewpoints - The textile and apparel sector outperformed the market, with the SW textile and apparel index rising by 4.2% from December 9 to 13, 2024, surpassing the SW All A index by 4.4 percentage points [1][9]. - The report highlights the importance of domestic demand recovery, driven by government policies aimed at boosting consumption and investment efficiency, particularly in the context of the upcoming Winter Olympics and the winter tourism boom [3][5]. Summary by Sections Industry Performance - The textile and apparel sector showed strong performance, with the SW apparel and home textiles index increasing by 5.1% and the SW textile manufacturing index rising by 2.9% during the same period [1][9]. - Retail sales in October for clothing, shoes, and textiles reached 134.7 billion yuan, marking an 8.0% year-on-year growth, while the cumulative retail sales from January to October grew by 1.1% [2][33]. Export Data - In November, the textile industry's export value reached 25.2 billion USD, reflecting a year-on-year increase of 6.8%. The export of textile yarns, fabrics, and products grew by 9.5% to 12.2 billion USD, while clothing and accessories saw a 4.3% increase to 13 billion USD [2][19][39]. Policy and Market Trends - The central government's focus on expanding domestic demand is expected to lead to more supportive policies in 2025, particularly benefiting sectors like outdoor sports and winter tourism [3][5]. - The report identifies potential beneficiaries in the outdoor and winter sports sectors, including Anta Sports, Bosideng, and 361 Degrees, as well as home textile brands like Luolai Life and Mercury Home Textile [3][5]. Investment Recommendations - The report suggests focusing on brands with rising domestic market strength, such as Baoxiniao, Biyinlefen, and Luolai Life, as well as outdoor sports brands like Bosideng and Anta Sports for their long-term growth potential [5][19]. - The cross-border e-commerce sector is highlighted as a growth area, with recommendations for companies like Anker Innovation and suggestions to monitor Saiwei Times and Huakai Yibai [3][5].