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China has turned inward to sell Xinjiang cotton after a trade ban. Will it be enough?

SCMP LogoSCMP9h ago

China has turned inward to sell Xinjiang cotton after a trade ban. Will it be enough? - SCMP

Quick Summary:

After a US trade ban for cotton from China’s Xinjiang, textile manufacturers have turned to domestic consumers – but the ban’s chilling effect on all exports has left a gap that is difficult to fill.

In terms of trade, Xinjiang’s total exports to the US in 2023 were valued at around US$373 million – a 92 per cent drop from 2020, according to Urumqi customs figures.

A slackening of demand appears correlative, as retail sales rose 2 per cent in June, year on year – a noteworthy slide compared with the 3.7 per cent growth seen in May, and the slowest rate of increase since China lifted its coronavirus restrictions at the end of 2022.

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Article Details

Author / Journalist: Kinling Lo

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-11 @ 06:00:12 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 2115 words

Reading Time: 12 minutes read

Sentences: 65 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22009545

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About SCMP

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Main Topics: Business

Official Website: scmp.com

Update Frequency: 8 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 21 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

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  • URL: https://beamstart.com/news/china-has-turned-inward-to-17233365514996

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