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Major emerging markets such as Vietnam are regarded by the west as sourcing hubs for products and packaging, but this south-east Asian country of 100 million people is now a major metal packaging market. According to recent forecasting from India-based market researcher Mordor Intelligence, the Vietnamese metal packaging market is expected to expand at a compound annual growth rate (CAGR) of 3.07% from 2024 through 2029, growing from USD2.11 billion to USD2.45 billion (1).…

The Chinese auditing unit of accounting giant PwC has been fined a record Chinese Yuan Renminbi CNY441 million (USD62.7 million) and banned from auditing in mainland China for six months after a regulator concluded it had “covered up and even condoned” fraud at Evergrande Real Estate Group, including at its Hong Kong subsidiary Hengda.…

Vietnam’s clothing and textile industry may benefit from the accession to power of a former security minister, industry experts have told Just Style – although his closeness to Russia has raised concerns about weakening vital western trade links. To Lam was appointed President of Vietnam in April (2024) and general secretary of the ruling communist party earlier this month (August 3), the most powerful job in this south-east Asia sourcing hub.…

International accounting networks are keeping a close eye on China’s lucrative audit market, which is becoming a riskier proposition as tough regulatory actions make Chinese clients less willing to choose firms with global connections over local outfits.

These pressures are rising as the Chinese government mulls regulatory action against PwC, following the January collapse of its property giant client, the China Evergrande Group.…

As intensifying international trade frictions highlight the need for Chinese textile companies to spread their risk by investing in production capacity within diverse global markets, Chinese textile companies are indeed expanding their global footprint. That includes downstream as well as upstream segments.…

China’s tobacco consumption has been growing despite its sluggish economy, increasing its import of leaf worldwide. In 2023, China’s tobacco industry generated receipts of Chinese Yuan Renminbi CNY1.5 trillion (USD206 billion), up 4.3% from 2022, according to the China National Tobacco Corporation (China Tobacco).…

The metal packaging sector in Taiwan has been building a sustainable future, with solid growth since the end of the Covid-19 pandemic, can makers and fillers told Cantech International at the Taipei Pack trade show in the Taiwanese capital Taipei (1).…

Former UK Serious Fraud Office (SFO) director Lisa Osofsky observed in 2022 that the material her agency had to work through in a typical case, if printed, would fill 22 London buses – so could artificial intelligence (AI) aid the management of such tough cases?…

The clothing and textile sector is facing an onrush of detailed legislation and guidance from regulators worldwide focused on artificial intelligence (AI), which will shape how businesses adopt and use this powerful new technology. As is often the case in comprehensive regulation, the European Union (EU) has been a leader in approving legislation on AI, as the global clothing and textile industry increasingly explores and delivers ways to integrate AI into its businesses.…

Singapore authorities are trying to strengthen vulnerabilities in the Asian financial hub’s anti-money laundering (AML) system following an AML probe that led to the arrest of nine men and one woman, all from Fujian province in China last August (2023). Police subsequently seized assets and cash worth more than Singapore dollars SGD3 billion (USD2.2 billion) as of January 2024.…