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French leading department store player Galeries Lafayette is taking part in the second China International Consumer Products Expo in Haikou, Hainan province, between July 26 and 30, as the retailer aims to have 10 stores in China by 2025. Galeries Lafayette is attending this trade show, an essential gateway to facilitate access to the local market in Hainan, as a way of reinforcing the bonds between Galeries Lafayette and its economic and trade partners in the country. The retailer has a network of 65 stores in France and other parts of the world. Within the French Pavilion in the Fashion

BEIJING -- China accounted for 30 percent of the global manufacturing output in 2021, marking an increase from 22.5 percent in 2012 as the industry grew bigger and stronger, data from the industry regulator showed Tuesday. The manufacturing value-added output had expanded from 16.98 trillion yuan ($2.5 trillion) in 2012 to 31.4 trillion yuan in 2021, Xin Guobin, vice minister of industry and information technology, told a press conference. Although the geopolitical conflicts and COVID-19 resurgence have added downward pressure on the industrial economy, the impacts would be temporary, Xin noted. From a long-term perspective, the fundamentals of China"s complete

To stimulate domestic consumption stricken by the COVID-19 pandemic, 20 provinces and cities issued over 3.4 billion yuan ($500.48 million) in shopping coupons in the first four months of this year, Securities Times reported. The coupons covered a variety of products, including rice, flour, cooking oil, home electronics, car and tourism services, according to Guoyuan Securities. Yin Zhentao, a director in fintech research at the Chinese Academy of Social Sciences, said the issuing of coupons not only helps boost social consumption, it also supports the big retailers and supermarkets which have been hit hard by the virus outbreak. A total of