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Quanzhou-made Olympic merchandise shines on Paris stage

China

China

China

Quanzhou-made Olympic merchandise shines on Paris stage

2024-08-03 00:07 Last Updated At:06:27

A range of Olympic merchandise from Quanzhou, an innovation-driven manufacturing city in East China's Fujian Province, is making a prominent appearance at the Paris Olympic Games this summer, distinguished by its exquisite design, complex manufacturing process, and eco-friendly attributes.

Quanzhou-based Anta Sports, China's leading sportswear producer and a key sponsor of the Chinese sports delegation, has created innovative designs for the Chinese athletes' victory ceremony uniforms at the Paris Olympics.

The uniforms feature traditional Chinese motifs, such as dragon scale patterns and intricate embroidery. Furthermore, the use of eco-friendly materials, including recycled nylon, has reduced the carbon footprint of the clothing production by over 50 percent.

The design of the game shoes for Chinese weightlifters has also been improved. Each pair now weighs approximately 1.2 kilograms but can withstand over a ton of pressure, roughly equivalent to the weight of 14 adults.

"When weightlifters need to exert their explosive power, the shoes help them lift heavy weights more securely. This year, we made some technical improvements to the shoes, enhancing the stability performance of the shoes for supporting lifting movement by nearly 50 percent. We invest over a billion yuan (about 138 million U.S. dollars) each year in research and development, with a total investment of nearly six billion yuan (about 828 million U.S. dollars) to date," said Christina Li, vice president of Anta Group.

Another Quanzhou-based company, Peak Sports, supplies sportswear for Olympic teams from 11 countries at the Paris Games, including Brazil, Belgium, and New Zealand.

In addition, over 200,000 souvenirs featuring the Paris Olympic mascot "Phryge," including resin figurines, keychains, and other official merchandise, are all produced in this manufacturing city.

"We were officially authorized to produce seven types of Olympic resin figurines and two types of key chains this time. The quality standards for Olympic products are strict, and the manufacturing process is complex. Our products have gained strong approval from the Paris Olympic Organizing Committee," said Jiang Lingyan, business manager at Quanzhou Nanyang Arts and Crafts Co., Ltd.

According to Quanzhou Customs, exports of sports goods and equipment from Quanzhou reached 550 million yuan (approximately 76 million U.S. dollars) in the first half of 2024, marking a 59.4 percent increase compared to the same period last year.

So far this year, Quanzhou has exported 73 batches of Olympic-related sportswear and other products, amounting to approximately 743,000 items.

Quanzhou-made Olympic merchandise shines on Paris stage

Quanzhou-made Olympic merchandise shines on Paris stage

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ECB cuts interest rates by 25 basis points

2025-03-07 03:04 Last Updated At:03:17

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points

ECB cuts interest rates by 25 basis points

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