Search Results for: hong Kong

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.…

Hong Kong-based shirtmaker Esquel has been developing natural dyes to boost its sustainability, seeking similar quality colours and fastness to dyes based on artificial finishing chemicals. These innovations were explained during the company’s annual Esquel Integral Conversation event, tis year held on October 26, as usual in Guilin, southern Chinaat Esquel’s Integral Sustainable Development Garden.…

Hong Kong-based shirtmaker Esquel has been through some tough times of late, but its vice-chairman has told Just Style that the company is optimistic about the future. Esquel has been fighting bad fortune since early 2020, when its operations in mainland China were hit by the Covid-19 pandemic.…

Risk specialists predict that the current instability in China’s trust sector and China’s slowing economic growth will lead to a massive outflow of capital from China, breaching Chinese money laundering laws. That will include both the export of legally earned money in excess of Chinese capital export caps of USD50,000 per year and illicit movements of criminal proceeds.…

The wool and textile sectors of Australia and the UK will be closely assessing the impact of the UK-Australia Free Trade Agreement (FTA), which came into force on May 31 (1). The agreement, one of the first major trade deals stuck by the UK following its Brexit from the European Union (EU) in 2020, includes a significant reduction and removal of tariffs in trade between the two.…

Kenya’s government has proposed imposing a 25% tariff increase on imported clothing and textiles, a move designed to wean Kenyans off luxury imported clothes, supporting a domestic clothing and textile industry that has been harmed deeply by foreign-made garment sales.

Confirming the intention to introduce the new tax measures, investments, trade and industry cabinet secretary (minister) Moses Kuria said the new taxes would help Kenya’s textile and clothing industry: “The country has a rich textile sector that should be expanded,” said Kuria on August 14, while addressing Kenyan textile investors.…

The China National Garment Association (CNGA) in a new briefing (1) on China’s clothing industry economic operations for H1 2023 warned that China’s clothing industry is under serious pressure. Insufficient post-Covid demand recovery in international markets due to inflation and central banks’ tight monetary policies have been exacerbated by overseas customers transferring orders to other countries.…

Chinese textile companies are bringing digital textile printing into the realms of denim and yarn to replace unsustainable dyeing processes, industry observers have told Digital Textile.

‘Digital denim’ made using a computer and printer involves applying inkjet printing dyeing’ on cotton fabric to make the ‘digital denim’ fabric resembling different styles of jeans has become increasingly popular within China’s textile sector.…

International clothing brands have been hoping to see major outsourcing centres develop their own sustainable apparel markets, but this year’s choppy global economy has impeded sales to these potentially lucrative consumer bases.

Brazil, the world’s 10th largest economy, with 216 million people, was back in 2011 considered by US-based consultants A.T.…

The China-Central Asian Summit that took place in China’s Xi’an in May 18-19 will positively affect Chinese textile and related input sourcing well beyond Central Asia, analysts’ comments and Chinese-language media reports indicate. China’s President Xi Jinping used the event, that was also attended by the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, to unveil an ambitious plan to help elevate Central Asia to the next level of its development — from building infrastructure networks to boosting trade (1).…