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Showing posts with label china retail news. Show all posts
Showing posts with label china retail news. Show all posts

Monday, November 11, 2013

China’s Textile Industry Leans Green

Speaking at the Texworld USA show in midtown Manhattan, Zhang Yankai, vice president of the China National Textile and Apparel Council, promised an increased commitment by the Chinese textile industry to environmental progress. ‘In the next four years, we are going to work very hard to create a green environment so [the industry] continues growth in the future.”
In a rare moment of candid self-criticism last week,  China issued a report card on the nation’s environmental conditions, describing them as “grim.” The report also noted a “marked deterioration in China’s air, water and land quality.” A shockingly low twenty-seven out of 113 cities evaluated satisfied the bare minimum quality standards, set by the Ministry of Environmental Protection. More than 30 percent of China’s major rivers were labeled either “polluted” or “seriously polluted” while more than 57 percent of the groundwater assessed in 198 cities was “bad or “extremely bad.”

Monday, October 21, 2013

Li & Fung Pushes China As Key Sourcing Destination

Li & Fung, which released earnings numbers this week showing falling profits, stated in its earnings call that China has enduring importance as a sourcing destination. The country is key for retailers and importers.

“China continues to be number one,” LF president and CEO Bruce Rockowitz said, announcing the company’s earnings. “A lot of people talk about the end of China; it’s not true. China is the key country for a company that is an importer or retailer.”

Much ink has been spilled over the impact of higher labor costs in China, which have been rising at double-digit rate for over a decade. Rockowitz said that many companies are mitigating those costs by moving to the interior of the country, where wages are lower. Companies are also working with more mechanized factories that use manpower more efficiently.

Resource URL: https://www.sourcingjournalonline.com/li-fung-pushes-china-as-key-sourcing-destination/
 

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