China news and archive

Fashion brands brace for China’s export shift

Facing escalating tariffs from the U.S. and political uncertainty, Chinese manufacturers are rapidly refocusing their export strategies, shifting their gaze to Europe, Southeast Asia, and domestic e-commerce in a bid to weather the latest rupture in global trade. According to the Financial Times, exports to Europe surged 12 percent in May, with...

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Strong growth in Chinese retail despite US trade dispute

Chinese retail sales increased by 6.4 percent year-on-year in May, despite the ongoing trade dispute with the US. This marked the strongest growth since late 2023, following a 5.1 percent rise in April. Analysts were surprised by this positive development, having forecasted a decline in growth to 4.9 percent. French bank Société Générale...

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China gives no details on tariff agreement with US

China is keeping a low profile following the agreement announced by US President Donald Trump on easing export restrictions in the ongoing trade dispute. Both sides have made new progress in resolving the other side's economic and trade concerns, said Foreign Ministry spokesperson Lin Jian in Beijing. The People's Republic hopes that both sides...

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Appeals court reinstates Trump's tariffs after trade court moves to block

A federal appeals court has temporarily reinstated President Donald Trump's tariffs, just a day after a trade court ruling found the majority of the global tariffs to exceed presidential authority. The ruling from the United States Court of Appeals for the Federal Circuit in Washington gave no further reasoning or clarification but granted the...

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Misinformation casts shadow on US-China trade truce

From false claims of Americans panic-buying Chinese goods to bot-driven attacks on US brands, a tide of misinformation is casting a shadow over a temporary trade truce between Washington and Beijing. The world's two biggest economies agreed earlier this month to pause reciprocal tariffs for 90 days, a surprise de-escalation in their bitter trade...

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BIRD: New womenswear trade fair in China

China is getting a new trade fair specialising in womenswear with the BIRD Fashion Fair. The China National Garment Association (CNGA) is hosting the first edition of BIRD in June. It is the first “international trade fair dedicated exclusively to innovations in womenswear,” the Chinese apparel association announced on Wednesday. The acronym...

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Chanel charts a new course amid luxury sector slowdown

Chanel, long seen as a bellwether of the global luxury market, reported a 4.5 per cent decline in sales for 2024, falling to 18.7bn dollars, as economic pressures and shifting consumer behaviour weighed on the industry. Operating profit fell more sharply, down 28.2 per cent to 4.5bn dollars, according to results released on Tuesday. The downturn...

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Growth of Chinese economy slowed in april

The growth of the Chinese economy in April did not meet analysts' expectations. Retail sales growth and production growth in the country were lower than previously expected, according to Reuters and AP News. A major reason cited was the increase in import duties between the US and China since the beginning of April. Retail sales growth amounted...

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AAFA, FDRA and NRF welcome US-China tariff pause, call for long-term deal

US apparel and footwear trade associations have welcomed the US and China’s 90-day pause on heightened tariffs. Yet, while the temporary agreement has somewhat calmed the waters of the two regions’ trade war, organisations are still calling for a long-term deal that will mitigate rising costs and prices. This was reflected in a statement from...

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Trump maringally lowers US tariff barrier for Temu and co.

Even after the temporary easing of the trade dispute, Donald Trump continued to make business difficult in the US for Chinese online retailers like Temu and Shein. Until recently, they benefited from the fact that goods deliveries with a value of less than 800 dollars were exempt from tariffs. Since the beginning of May, however, a tariff of 120...

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Wall Street opens with strong gains due to US-China trade truce

Washington – The New York Stock Exchange opened this Monday with pronounced gains after the US and China announced the suspension for 90 days of most of the mutual tariffs, in a de-escalation of the trade war launched by Donald Trump. Around 1.50pm GMT, the Dow Jones was up by 2.47 percent, the Nasdaq index increased by 3.47 percent and the...

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China and US lower mutual tariffs

China and the United States have agreed to reduce their mutual tariffs in the ongoing trade dispute. According to a joint statement, the measure will be temporarily in effect for 90 days. The news triggered strong gains on international stock markets, but the euro against the US dollar came under pressure. Accordingly, US tariffs on Chinese...