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HomePage > News > Why can Guangdong become a strong furniture province in China?
Why can Guangdong become a strong furniture province in China?
Source:     Nov. 27, 2019 15:09

In recent years, the development of furniture industry in China has slowed down due to the combining effects of stricter national environmental protection policies, the gradual saturation of the furniture industry market, import and export, and so on. In terms of regional capacity, in 2018, as a strong furniture province in China, Guangdong accounted for 20.9% of total national output, ranking second only to Zhejiang Province.

According to National Bureau of Statistics, Guangdong's furniture output showed a small decline in 2018, at 149,388,700 pieces. In 2019, Guangdong's furniture output reached 72,742,800 pieces, down 1.2% year on year.

 

 


 

 

As for the niche market of Guangdong furniture, furniture products in Guangdong are still mainly wooden furniture and metal furniture which together account for nearly 80% of the total. By the first half of 2019, the output of metal furniture in Guangdong has reached 33,036,400, while that of wooden furniture has reached 25,525,900. Therefore, the output of metal furniture in Guangdong was significantly higher than that of wooden furniture.




 

 

The sales volume ranks first nationwide in the industry. 

 

As for the sales volume of furniture in various provinces, in 2018, the sales volume in Guangdong, Shandong and Zhejiang alone exceeded 10%, showing a significant regional differentiation. Among that, the sales revenue of Guangdong furniture reached RMB156.089 billion, accounting for 22.3%, ranking first nationwide with an absolute advantage; The sales revenue of Shandong is only about half of that of Guangdong, at RMB82.352 billion, accounting for 11.7%.

 

 

 

As for the performance in 2018 of listed furniture enterprises in Guangdong, there are 36 listed furniture enterprises in China in 2018, 8 of which from Guangdong. Among that, OPPEIN became the leading enterprise in the industry with a business income of RMB11.5 billion.

 

In addition, Yihua Home Furnishings and SUOFEIYA in Guangdong grow rapidly, with revenue over RMB7 billion each; The growth rate of revenue and net profit of HOMEKOO reached 24.83% and 25.53%, respectively, showing a large growth in both revenue and profit, mainly driven by the rapid promotion of new products of customized furniture and the national layout of Homkoo Whole House Decoration. On the whole, the sales volume of Guangdong furniture ranks steadily first nationwide driven by listed companies.  

 

 

Guangdong Province, as the leading furniture province in China, has long been the most important furniture export base in China, and has developed a seventy-thirty ratio basic pattern of export and domestic sales. According to Guangdong Furniture Association, Guangdong's furniture exports in 2018 reached USD 19.374 billion, a slight decrease from that in 2017; In addition, domestic sales continue to expand, up to RMB304 billion, accounting for 69.9%.

 

 

 

The Strategy of Good Quality and Good Price Promotes the Average Price of Furniture in Guangdong  

 

In recent years, Guangdong furniture industry adheres to the strategy of ''High Quality and Good Price'', and attaches importance to the transformation from export to High Quality and Good Price. At the same time, "High Quality and Good Price" is also an important strategy to promote the stability and improved quality of foreign trade. 

 

It is noteworthy that in 2018, according to the Guangdong Furniture Association, the average unit price of Guangdong furniture in 2018 was RMB1,387.72, a decrease of 7.4% compared with that in 2017, due to the structural adjustment within the industry of Guangdong furniture products as well as the gradual elimination of low-value products.

 

 

 

 

In addition, as for the national average price of furniture products, the national average unit price of furniture products in 2018 is RMB983.75, while the average price of Guangdong furniture products is RMB403.97 higher than the national average price, and far more than that of the large-scale furniture enterprises in Zhejiang and Fujian.

 

 

Furniture Industry Growth in Guangdong Driven by Policies 

 

In recent years, to promote the healthy development of China's furniture industry and accelerate the optimization and upgrading of the furniture industry, relevant industrial policies have been launched to guide the concentrated development of furniture enterprises. According to China National Furniture Association, there have been 50 furniture industry clusters in China, among which 9 is settled in Guangdong, namely Guangzhou, Foshan, Dongguan, Zhongshan and Jiangmen, all gathering in the urban agglomeration of Guangdong-Hong Kong-Macao Greater Bay Area.  

 

For the development of Guangdong furniture industry, Guangdong Furniture Association has put forward the proposal of further building industrial clusters and promoting the furniture industry layout in Guangdong-Hong KongMacao Greater Bay Area; facilitating the high-quality development of manufacturing industry, strengthening the deep integration of manufacturing industry and service industry, expanding the domestic demand and enhancing foreign trade for the purpose of a healthy and green development of furniture industry in Guangdong, comprehensively improving industry productivity and consolidating the leading role of Guangdong in the furniture industry. 


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