The following is a round-up of apparel and footwear news from the world’s local media. just-style has not checked these stories so cannot guarantee their accuracy.

  • Bank of China and Zhejiang Hengyi Group have signed a CNY5bn (US$7.7bn) cooperation agreement on supply chain finance. The deal between the bank and its customers in the petrochemical and chemical fibre industry follows on from a pilot operation in this area initiated last year. BANK OF CHINA
  • A survey to check the impact of Japan’s nuclear crisis on its textile industry has found no major difference in radiation levels between goods produced in and outside the country. Samples were taken from three areas in Fukushima Prefecture, located outside the state-designated no-entry zones around the Fukushima plant, and from Tokyo, western Japan and Asian and European countries. KYODO
  • Textile mill operators in Bangladesh have demanded a 10% rise in subsidies to tackle the stockpiling of unsold fabrics and yarn. This is due to the relaxation of the EU Rules of Origin (RoO), which means garment makers can now use imported fabrics, and dumping of yarn by India, the Bangladesh Textile Mills Association claims. THE DAILY STAR
  • Indonesia’s footwear exports to the US are expected to jump by 92% to US$1.2bn this year. A decision by the Footwear Distributors and Retailers of America (FDRA) to make Indonesia the main supplier of footwear for the US market is behind the upbeat forecast, the Indonesia Shoemakers Association said. ASIA PULSE
  • Indian retailer Major Brands is teaming up with French fashion chain Promod in a joint venture agreement. Promod will hold a 51% stake while Major Brands will hold the remaining 49% stake. Under the joint venture, Promod and Major Brands are expected to open 40 new stores in India within the next five years. INDIA RETAIL NEWS
  • The Indian government is watching the price of raw silk in the country and promised “intervention” if domestic producers are adversely affected by its decision to cut import duty on raw silk by 25%. The decision was made after domestic demand for the fibre outstripped supply. ASIA PULSE

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