China news and archive

What's happening in China, the country that has investors so worried?

China, the world's second-largest economy, is at a turning point as leaders announce monetary easing scheduled for 2025. The aim is to revive an economy that has been reeling from a prolonged crisis marked by weak consumption and growing concerns about deflation. The decision is part of a series of measures aimed at boosting consumption,...

Fashion

Cole Haan names HiMaxx as its exclusive distributor in China

Cole Haan, the American lifestyle brand and retailer of premium men's and women's footwear and accessories, has signed an exclusive distribution agreement with HiMaxx, a membership-based retail company in China. In a statement, HiMaxx, a leading multi-brand outlet for footwear, clothing, accessories, and beauty, said it will launch a new premium...

Business

US extends import ban to dozens of Chinese companies on forced-labour claims

Dozens more Chinese companies have been added to the US’ growing blacklist for allegedly using forced-labour. The Department of Homeland Security (DHS) has identified a further 29 businesses that it said were using forced Uyghur labour in China’s Xinjiang province to produce goods. As such, these firms are now banned from importing into the US....

Podcast

Podcast: How Indonesia's demand to remove the Temu app impacts global trade

Indonesia recently requested Google and Apple to remove the Temu app, owned by PDD Holdings, from its national app stores to protect local businesses from the sale of extremely cheap products. This direct action, without accusations of illegal activity, is rare and raises questions about how the tech giants will respond. The action could inspire...

Culture

What to know about Asvoff winner 'Made in Italy made by the Chinese'

'Made in Italy by the Chinese' received the award for best Chinese film at the Asvoff fashion film festival, which took place from November 7 to 10, 2024. The documentary tells the story of how Chinese immigrants, mainly from the port city of Wenzhou, appropriated the famous 'Made in Italy' label, which is supposed to glorify the know-how of...

Fashion Featured

Trump's proposed tariffs could change American retail

Stories of retailers bulk buying and allocating greater resources to acquire immediate stock, are just some of the conversations the fashion industry is having in the wake of Donald Trump’s re-election as president and expectations of increased tariffs. With Mr Trump having previously warned he may levy a 60 percent tariff on imported goods from...

BusinessFeatured

Luxury shares tumble as Richemont posts sales decline

Swiss luxury conglomerate Richemont, owner of such brands as Cartier, Chloe, and Alaïa, experienced a sharp 6 percent drop in its share value this week, after announcing weaker-than-anticipated earnings. The company reported quarterly sales of 2.2 billion euros, falling short of analysts' projections of 2.45 billion euros, with profits marking a...

Business

Steve Madden to cut Chinese imports by almost half in wake of Trump re-election

The chief executive officer of Steve Madden, Edward Rosenfeld, has told investors that the company could reduce the amount of goods it imports from China by as much as 45 percent in the wake of Donald Trump’s re-election. His comments, which came during a Q3 earnings call, are in regards to Trump’s plan to raise tariffs on Chinese imports by up...

Retail

Manolo Blahnik opens first Mainland China boutique

Luxury footwear and accessories brand Manolo Blahnik is cementing its commitment to China with the opening of its first boutique in the country’s mainland. Located in Shanghai’s Plaza 66, the store was designed by the brand’s CEO, Kristina Blahnik, and draws inspiration from the concept initially used for Manolo Blahnik’s boutique in Burlington...

Fashion |Interview Featured

ENG: How the Chinese concept store attracts customers in times of crisis

Young fashion retailers, such as the Chinese concept store ENG, are managing to attract customers worldwide despite the difficult economic situation. They offer a product range and shopping experience that is not only attractive to local customers, but also has its finger on the pulse internationally. In the bricks-and-mortar retail sector of...

Business

Forget China, Chanel exec warns of luxury fatigue risk

A slowdown in the key Chinese market is currently lashing the financial performance of luxury houses but a Chanel executive warned Monday it faces an even greater risk from oversaturation and "luxury fatigue". Frederic Grangie, head of the watch and jewellery division at Chanel, told the Swiss daily Le Temps that 2025 and 2026 will be...

BusinessFeatured

French luxury titans see wealth decline

LVMH chief Bernard Arnault is no longer the world’s wealthiest man. As the luxury sector grapples with a China slowdown, three of France’s billionaires — Bernard Arnault, L’Oréal’s Francoise Bettencourt Meyers and Kering’s Francois Pinault — are seeing their fortunes dwindle as "restraint replaces indulgence," reports Bloomberg. Their combined...