UNDATED, May 14: Consumer goods exporter Li & Fung Ltd , whose global distribution and trading centres make it a barometer of consumer sentiment, said on Monday that it does not expect slower economic growth in China to have any impact on orders.
‘On the export front, we don’t see much impact on our orders as China is still the major manufacturing country,’ Chairman William Fung told reporters after a shareholder meeting. ‘On the retail front, slower consumption growth hasn’t affected us much as our retail operations are still not very big.’
China’s economy stuttered unexpectedly in April, with lower-than-expected output data, softening retail sales and easing prices suggesting economic headwinds might be stronger than previously thought, requiring more robust policy responses to counter them.
Li & Fung Chief Executive Bruce Rockowitz told Reuters last week that the trend of rising costs in China had stabilised and the country was still a preferred manufacturing base for high-quality products. (agencies)
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