Chinese footwear makers suffer17 April 2007
A Russian government agency has recently implemented a new regulation by which foreigners are not allowed to do business in the retail market after January 15, 2007. This regulation has significantly affected shoe manufacturers in the Sichuan province of China as exports of the region account for 60% of total exports to Russia. Last year the export value stood at US$162 million and 80% of women's shoes manufactured in Sichuan were exported to Russia. The Chengdu Shoes Commission and China (Sichuan) Western Shoes City Ltd are currently negotiating with the centre for Russian-Chinese economic and trade cooperation.