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.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.