Recently, another significant news has emerged from China’s textile and clothing industry. Dongguan Minghai Finishing & Dyeing Factory, a 30-year-old Hong Kong textile giant based in Dongguan, announced that due to financial difficulties, it would cease all business operations, and all employees were released from their contracts on June 30. Although the closure of Chinese textile and clothing factories has become the norm in recent years, the downfall of such a powerful and comprehensive factory has sent s
