CX Daily: Chinese Fast Fashion Platforms Could Be Next U.S. Target
TOP STORIES
E-commerce?/
As Chinese fast fashion platforms?gain pace in North America ?they look set to hit a familiar snag — worsening U.S.-China relations.
In America, lawmakers and policy boffins are talking up the risks they say are posed by the rapid expansion of e-commerce companies like?Shein Group Ltd.?and?PDD Holdings Inc.’s Temu. China remained America’s largest apparel supplier in 2022,?accounting for 21.7% of its clothing imports by value,?according to data from the U.S. Office of Textiles and Apparel cited by trade site Just Style.
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Sentiment?/
Three-quarters of British companies expressed “cautious yet conditional” optimism about doing business in China following the country’s reopening from Covid in January, the British Chamber of Commerce in China?said in a position paper? released Tuesday.
However, member companies of the chamber said?challenges still remain regarding market competition, compliance regulation and lines of communication with the Chinese government,?the paper said.
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AIDS?/
The number of HIV/AIDS cases reported annually in China?fell more than 10% ?over the past three years,?but one-third of patients could have been identified earlier,?an official with the Chinese Center for Disease Control and Prevention (CDC) said, calling for better strategies to protect and treat the disease.
The tally of HIV/AIDS cases reported in China increased every year from 1985 to a peak of more than 150,000 in 2019, but then dropped by about 13% during the pandemic to 107,000 in 2022,?Han Mengjie, director of the Chinese CDC’s National Center for AIDS/STD Control and Prevention, said at a meeting held by the National Clinical Research Center for Infectious Diseases.
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Wanda?/
The slump in onshore and offshore bonds issued by subsidiaries of troubled property-to-entertainment conglomerate Dalian Wanda Group Co. Ltd.?deepened ?amid renewed concern by investors about its financial health and the fading prospects of a Hong Kong share sale by one of its units.?
A five-year, 3.8 billion yuan ($538.6 million) onshore bond issued by Dalian Wanda Commercial Management Group Co. Ltd. (DWCM) plunged almost 11% Monday to 77.6 yuan and tumbled a further 3.2% Tuesday to the lowest since November.?One bond investor told Caixin that investors tend to offload bonds quickly once sentiment sours.
Quick hits?/
Micron?/
South Korean memory-chip makers?Samsung Electronics Co.?and?SK Hynix Inc.?are expected to benefit from ?China’s ban on U.S. rival?Micron Technology Inc.’s products.
China’s cyberspace regulator said Sunday that it found “relatively serious” cybersecurity risks in Micron products sold in the country and warned operators of key Chinese information infrastructure against buying the company’s products.
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Gaming?/
China’s State Administration for Market Regulation unconditionally approved?Microsoft Corp.’s $69 billion acquisition of video game company?Activision Blizzard,?a Microsoft spokesperson?confirmed Monday with Caixin .
The action brings the total of countries that have cleared the transaction to 37 with more than 2 billion people,?Microsoft said. European Union regulators approved the deal May 17, conditional on full compliance with commitments offered by Microsoft.
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Quick hits?/
Tech Insider?/
Long Read?/
The Peak Mission was sent to upgrade a weather station installed on the top of Mount Everest by a Chinese expedition last year. The team summited the world’s highest mountain, 8,830 meters above sea level, on Tuesday. The final leg of the journey was made by 11 members from a camp at an altitude of 8,300 meters. This year’s scientific expedition focuses on studying the effects of global warming on the mountain and its surrounding areas; more than 170 researchers are participating
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