china

Retail
Alibaba Acquires Controlling Stake In Sun Art

In a move that further intensifies its competition with Walmart and Amazon, Alibaba Group said it will invest approximately $3.6 billion in Sun Art Retail Group Limited, a leading hypermarket and supermarket operator in China, that will raise its aggregate direct and indirect stake to approximately 72%.

Trade Shows
Canton Fair Opens Virtual Showcase

The 128th China Import and Export Fair (Canton Fair), and also its second virtual showcase, kicked off on October 15. About 26,000 exhibitors from 50 exhibition sections have brought more than 2.3 million products across 16 categories to the 10-day event, of which 691,500 products are making their debuts, according to the fair.

Trade Shows
Fall Canton Fair Readies Virtual Exhibition

The China Import and Export Fair (Canton Fair)’s 128th edition will go online from October 15 to 24. The 10-day virtual exhibition will leverage its digital interaction features to create new opportunities for global companies to source products and forge trade partnerships.

Retail
Walmart, Oracle Get Tentative Approval For TikTok Deal

TikTok creator ByteDance has received tentative approval for an agreement with the U.S. government to resolve the outstanding issues about the involvement of China’s government in the original organization, which will allow Oracle and Walmart in partnership to acquire 20% of the newly formed TikTok Global business.

Retail
NRF: Retail Industry Working To Check Forced Labor

The U.S. government is sanctioning Chinese companies it accuses of complicity in human rights violations arising from Beijing’s actions toward Muslim minorities, including forced labor, and the National Retail Federation has joined other trade associations in publishing a statement about their policies and activities in response.

Retail
NRF: Pandemic’s Impact On Imports Easing 

The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.

Trade Shows
Canton Fair Readies Online Exhibition

The Canton Fair’s International Pavilion held an online promotion and communication conference on June 3 to help buyers and business associations in China get prepared for the first-ever online session of Canton Fair, which will be held from June 15 to 24.

Retail
NRF: Imports To See Double-Digit Declines

Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.

Retail
Reloading Housewares Supply Chain Awaits Orders

Concerns among U.S. housewares suppliers and retailers about supply chain disruption out of China after the initial coronavirus outbreak have been surpassed by more urgent concerns closer to home about public health and safety and economic wellbeing.

Retail
NRF: Imports Projected To Decline Amid Pandemic

Estimates show that imports at major U.S. retail container ports dropped to their lowest level in five years in March, and imports are projected to remain significantly below normal levels through early summer as the coronavirus pandemic continues, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.

Retail
NRF: Coronavirus Impacting Import Outlook

The coronavirus outbreak is expected to have a longer and larger impact on imports at major U.S. retail container ports than previously believed as factory shutdowns and travel restrictions in China continue to affect production, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.

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