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Hema intends to open four more Hema X member stores before year’s end in a bid to compete with retailers such as Costco and Sam’s Club.

High labor costs and procurement barriers due to the pandemic mean that demand is outpacing supply for China’s pine nut industry.

The last Carrefour in Hangzhou will close its doors later this month as the retail chain reworks its China strategy in favor of new stores with paid memberships.

Australian stone fruit exporters are expected to face considerable pressure this season as trade tensions between Australia and China continue to build.