Visitors walk past a chart showing China's soaring GDP since 2012 and a photo of Chinese President Xi Jinping.
HONG KONG--China reported third-quarter economic growth data of 6.8 percent, in line with forecasts, although slowing from the second quarter's 6.9 percent expansion, government records showed Thursday.The economic data comes a day after the kick-off of the 19th National Congress of the Communist Party, a twice-a-decade summit that reshuffles the country's leadership, and a lengthy speech from Xi Jinping outlining his vision called "socialism with Chinese characteristics for a new era."Xi did not outline a specific target economic growth number, unlike his predecessor Hu Jintao, who promised to double GDP by 2020. Instead, Xi promised to reach a "moderately prosperous society" in three years time, mentioning environmental pollution concerns and the need to address financial risks. He also reiterated sentiments on punishing corruption, a key campaign he instigated when he first took power in 2012, sending luxury sales in China into a nosedive.[caption id="attachment_11030888" align="alignnone" width="1024"] Delegates attend the opening ceremony of the 19th National Congress of the Communist Party of China (CPC) at the Great Hall of the People (GHOP) in Beijing, China, on Oct. 18.[/caption]Although third quarter GDP slowed slightly, the pace of expansion is still on track to beat the government's full year target of 6.5 percent and could surpass 2016's growth of 6.7 percent.Retail sales in September grew 10.3 percent year over year, accelerating from 10.1 percent in August. Judging by the indicators from the National Day Golden Week holiday, which took place October 1 to 8, that strong streak is likely to continue. The country registered total spending during that key holiday on retail and food services of 1.5 trillion renminbi, or $226 billion at current exchange, up 10. 3 percent year over year, according to the Ministry of Commerce.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)