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"Failure to adapt to the changing demands of Chinese consumers and retaining the same business model for years were held as the major reasons for the exit of E-mart in China," said Yu.

"Exploring a new market is the first thing we do, so understanding the local language, culture and habits is very important. Chinese employees have no advantage in these fields, and they will be treated as outsiders," Wang says. "In the past, we hired African employees in Africa, mostly for the most basic and low-level jobs. This is the first time we have attended a job fair for African students in China. We want to hire high-level employees with skills in language and business negotiations, and a knowledge of both China and their home country."

"Department stores and shopping centers in major cities in China, at present, still play a very significant role in gathering visitors," said Jason Yu, general manager of Kantar Worldpanel China.

"Despite progress made in regulating the health supplements sector, a gap still remains between our supervision and public expectations," he said.

"Failure to take quick actions to suppress the virus could result in more severe economic outcomes as well as the unnecessary loss of life," said the Fed official.