World

Forex Traders in China are having a Difficult Time Due to Stringent Vigilance

Published

6 years ago

June 14, 2019

Following US President Donald Trump’s decision to impose a high tariff on Chinese imports, Chinese authorities are strictly carrying out vigilance on the forex traders in China. This has made it difficult for foreign trading companies operating in China to facilitate capital flow outside of the country. Over the last few years, local authorities such as the State Administration of Foreign Exchange (SAFE) and the People’s Bank of China (PBoC) have increased the pressure on forex broker companies in China by carrying out stringent vigilance over the capital flows.

Various foreign brokerage companies in the Chinese market are searching for ways to take their money out of the country. The government is working on closing loopholes and it is building pressure on WFOEs (Wholly Foreign-Owned Enterprises) to prevent violation of capital control laws. And with Donald Trump’s recent decision to escalate tariffs on Chinese imports, the pressure on foreign companies in China is not going to reduce by any amount.

Due to the intensifying trade war between China and the US, the Chinese authorities are trying their level best to maintain the value of yuan to a certain level. Hence, all the measures to prevent capital flight outside of the country are being taken to retain US dollars in China. Even after the continuous battle between brokers and regulators in China, several Forex brokers are enjoying a solid client base in the country.

Many Australian based brokers such as ASIC Australia Forex brokers are operating in China. Due to the lucrative client base and business growth, the forex brokers are trying their level best to deal with their challenges in China.

World

Turkish Textile Giant Sun Textile Solution Proposal for Drought

Published

4 hours ago

February 4, 2025

Jenny Jackson

While the World Health Organization (WHO) and the United Nations (UN) are seeking solutions to combat drought through various projects, Ekoten Textile, a subsidiary of Turkey’s textile giant Sun Textile, has developed a groundbreaking project in collaboration with a technology startup to minimize the intensive water consumption in the textile industry. This pioneering project, the first of its kind globally, will enable the recycling and reuse of up to 90% of the water used in textile production.

Drought is one of the most pressing issues facing the world today. According to WHO data, 40% of the global population is struggling with water scarcity. By 2030, up to 700 million people could be forced to migrate due to drought. The unconscious use of water in global production processes plays a significant role in the rapid depletion of clean water resources.

The textile industry is one of the sectors with the highest water consumption. In Turkey, while the food industry consumes 22% of the water used for industrial purposes, the textile sector follows closely with 18%. For instance, producing an average of 40 tons of products daily requires 2,500 tons of water, equivalent to the daily water consumption of approximately 10,000 people.

CLEAN WATER RESOURCES FOR HUNDREDS OF THOUSANDS OF PEOPLE EVERY DAY!

In textile production, where clean water resources are heavily consumed, the innovative success of the Turkish company stands out as a global best practice. This initiative will shape the future of the industry. The wastewater recycling project, developed through intensive R&D efforts, will ensure that over 90% of the required water is sourced from recycled supplies.

The reuse of wastewater in production will transform the fate of countries operating in the textile sector. By preventing the use of clean water resources for textile production, this project will free up clean water sources that can meet the daily needs of hundreds of thousands of people.

R&D ACTIVITIES IN 38 COUNTRIES WITH 380 PARTNERS!

Sun Textile places great emphasis on R&D activities, conducting research and development efforts with 380 partners across 38 countries. Sun Textile and its subsidiary Ekoten Textile export nearly 90% of their production, solidifying their identity as a leading exporter. The company ships products to numerous destinations worldwide, including European countries, the UK, and the US. Sun Textile, the leading ready-to-wear exporter in the Aegean Region, achieved a consolidated turnover of 250 million euros in the third quarter of 2024, continuing its active growth trajectory.

OFFERING CUSTOM DESIGNS TO CUSTOMERS

Sun Textile provides its own designed collections to leading brands in Europe and the UK. Ekoten Textile, its subsidiary, is among the most respected knitted fabric manufacturers in Turkey and Europe.

With a dedicated sales team for each major customer group and five design offices in three different countries, Sun Textile creates designs tailored to its customers’ needs. Its largest clients include the Inditex Group, H&M, Jimmy Key, Tesco, Kiabi, Marks & Spencer, and Next.

Sun Textile also extends its sustainability approach to social responsibility, notably for its high ratio of female employees. The company, which went public in 2022, is also listed in dividend indexes.