Asahi Kasei Corp is to become the first Japanese firm to produce spandex in China, reported Nikkei. Demand for the fibre, which is used to make swimsuits, is growing fast in China. The company plans to invest US$25m to establish a wholly-owned subsidiary in Hangzhou, Zhejiang province.
The number of mainland buyers at Hong Kong Fashion Week held in January increased by 75 per cent on the previous year’s total to exceed 3,000, according to the SAR’s Trade Development Council.