China

China will become the world’s largest retail market this year, according to research firm eMarketer. In its latest retail forecast, the company says that China is on track to achieve US$4.886 trillion in retail sales this year, compared to a forecast of US$.823 trillion for the current leader, the United States. The group also notes that mobile sales have been a major contributor to China’s growth. (Fibre2Fashion)/(eMarketer)
 
Officials in China say they will add 17 additional imported products from Bangladesh to their duty-free list. These include synthetic fibre, silk waste, short boots, and some leather goods. The move is intended to help increase trade between the two countries. China already allows over 4,700 products from Bangladesh to be imported duty-free. (Fibre2Fashion)