financetom
Business
financetom
/
Business
/
China's Xinjiang Cotton Association calls on international brands to restore cotton use
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's Xinjiang Cotton Association calls on international brands to restore cotton use
Dec 5, 2024 6:23 PM

HONG KONG, Dec 6 (Reuters) - China's Xinjiang Cotton

Association said on Friday that international brands should give

"full respect and trust" to Xinjiang cotton, following an

executive's comment last week that clothing company Uniqlo does

not take supply from the region.

The association called on brands like Uniqlo to resume the

use of cotton from China's far western territory of Xinjiang to

help maintain the "healthy and stable development of the global

cotton textile industry," according to a statement made on its

official WeChat account on Thursday.

In a British Broadcasting Corporation interview last week,

Tadashi Yanai, CEO of Fast Retailing ( FRCOF ), Uniqlo's parent

company, said the fashion chain does not use Xinjiang cotton in

its products.

Rights groups and the U.S. government have accused China of

abuses against Xinjiang's Uyghur population, and the issue of

buying cotton or other goods from the region has been a

geopolitical minefield for foreign companies with a large

presence in China.

Beijing denies any abuses in Xinjiang, which produces the

vast majority of China-made cotton.

"We expect international brands like Uniqlo to give full

respect and trust to Xinjiang cotton," the association said.

"We call on the international community and textile and

garment companies to maintain a high degree of rational analysis

and choice of all anti-Xinjiang remarks and behaviours."

Xinjiang is part of Beijing's effort to shift labour

intensive industries such as textiles out of the Pearl River

Delta and into China's interior.

The textile hub is also a key part of President Xi Jinping's

Belt and Road Initiative, or "new silk road", an economic push

spreading from western China to Central Asia and onwards towards

Europe.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Cryptoverse: Ether fettered by fate of spot ETF proposals
Cryptoverse: Ether fettered by fate of spot ETF proposals
Apr 2, 2024
(Reuters) -Cryptocurrency ether is struggling to keep pace with soaring big brother bitcoin. The no. 2 cryptocurrency, which commands less than a fifth of the $2.7 trillion crypto market, has not done poorly. But ether is up just around 53% in the first three months of this year, compared with bitcoin's 65%. Bitcoin scaled new peaks last month. Trading around...
Clariant completes $810 million acquisition of Lucas Meyer Cosmetics
Clariant completes $810 million acquisition of Lucas Meyer Cosmetics
Apr 2, 2024
(Reuters) - Clariant completed the $810 million acquisition of Canada's ingredients and cosmetics maker Lucas Meyer Cosmetics from International Flavors & Fragrances ( IFF ), the Swiss specialty chemicals firm said on Wednesday. ($1 = 0.9079 Swiss francs) ...
Singtel confirms no intention to divest Australian telco Optus
Singtel confirms no intention to divest Australian telco Optus
Apr 2, 2024
April 3 (Reuters) - Singapore Telecommunications (Singtel), Southeast Asia's largest telecom operator, on Wednesday reiterated that there was no impending deal to divest Australian telco Optus. Singtel, majority-owned by sovereign investor Temasek, in March denied an AFR report that it was offloading Optus to Canada's Brookfield for up to $12 billion. (Reporting by Roushni Nair in Bengaluru; Editing by Subhranshu...
Clariant completes $810 mln acquisition of Lucas Meyer Cosmetics
Clariant completes $810 mln acquisition of Lucas Meyer Cosmetics
Apr 2, 2024
April 3 (Reuters) - Clariant completed the $810 million acquisition of Canada's ingredients and cosmetics maker Lucas Meyer Cosmetics from International Flavors & Fragrances ( IFF ) , the Swiss specialty chemicals firm said on Wednesday. ($1 = 0.9079 Swiss francs) ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved