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This Week in China: Hong Kong’s comeback, supply chains and property developer woes

This Week in China: Hong Kong’s comeback, supply chains and property developer woes

This week in China, several significant events unfolded that shed light on the country's economic landscape. Despite challenges, Hong Kong's economy experienced a positive growth in the first quarter, buoyed by local consumption and increased Mainland visitors. Meanwhile, U.S. lawmakers called on companies like Nike and Adidas to demonstrate their compliance with laws banning imports from Xinjiang, amidst ongoing allegations of forced labor and human rights abuses in the region. Additionally, KWG, a prominent property developer, became the latest in a series of defaults, leading to concerns among investors about the effectiveness of the government's rescue plan.

Keywords:

Hong Kong, economy, growth, Mainland visitors, U.S. lawmakers, Nike, Adidas, Xinjiang, forced labor, human rights abuses, KWG, property developer, defaults, government's rescue plan

FAQ:

  1. What contributed to Hong Kong's economic expansion in the first quarter despite challenges?
  2. Why did U.S. lawmakers call on companies like Nike and Adidas regarding imports from Xinjiang?
  3. How did the default of KWG, a property developer, impact investors and raise questions about the government's rescue plan?