SHANGHAI — Despite the central government’s ongoing frugality campaign, China’s retail sales grew over the recent Golden Week holidays.
The weeklong public holiday, which celebrates the anniversary of the foundation of the People’s Republic of China on Oct. 1, saw national retail spending rise 13.6 percent on the year to 870 billion yuan, or $142 billion at current exchange. That figure represents a slowdown from the 15 percent growth posted last year, but last year’s holiday period was a day longer than usual due to Golden Week coinciding with the Mid-Autumn Festival.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"