A woman passes the logo of Australian bank Westpac in Melbourne on May 27, 2026, after Westpac was fined 26 million Australian dollars (18.6 million US) by the Federal Court for "grossly negligent conduct" in the way it treated customers facing financial hardship. (Photo by William WEST / AFP via Getty Images)

A work is seen blow a Xiaomi logo at the east China headquarters of electronics and car-maker Xiaomi, in Nanjing, in China's eastern Jiangsu province on May 26, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

Workers are seen at the east China headquarters of electronics and car-maker Xiaomi, in Nanjing, in China's eastern Jiangsu province on May 26, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

General view of a Tiffany & Co. shop at Shanghai Hongqiao International Airport in Shanghai, on May 20, 2026. The closure of France's Galeries Lafayette's first China flagship on May 27, takes place against a backdrop of a sluggish post-pandemic economy and shifting consumption practices. (Photo by Hector RETAMAL / AFP via Getty Images) / TO GO WITH: China-luxury-retail-economy-consumption, FOCUS by Mary YANG and Agatha CANTRILL in Shanghai

People walk on a street with luxury brand shops and a shopping mall in Shanghai, on May 19, 2026. The closure of France's Galeries Lafayette's first China flagship on May 27, takes place against a backdrop of a sluggish post-pandemic economy and shifting consumption practices. (Photo by Hector RETAMAL / AFP via Getty Images) / TO GO WITH: China-luxury-retail-economy-consumption, FOCUS by Mary YANG and Agatha CANTRILL in Shanghai

A woman walks on a street next to a LUlulemon shop in Shanghai, on May 19, 2026. The closure of France's Galeries Lafayette's first China flagship on May 27, takes place against a backdrop of a sluggish post-pandemic economy and shifting consumption practices. (Photo by Hector RETAMAL / AFP via Getty Images) / TO GO WITH: China-luxury-retail-economy-consumption, FOCUS by Mary YANG and Agatha CANTRILL in Shanghai

A woman poses for pictures next to a LUlulemon shop in Shanghai, on May 19, 2026. The closure of France's Galeries Lafayette's first China flagship on May 27, takes place against a backdrop of a sluggish post-pandemic economy and shifting consumption practices. (Photo by Hector RETAMAL / AFP via Getty Images) / TO GO WITH: China-luxury-retail-economy-consumption, FOCUS by Mary YANG and Agatha CANTRILL in Shanghai

General view of a Gucci shop at Shanghai Hongqiao International Airport in Shanghai, on May 20, 2026. The closure of France's Galeries Lafayette's first China flagship on May 27, takes place against a backdrop of a sluggish post-pandemic economy and shifting consumption practices. (Photo by Hector RETAMAL / AFP via Getty Images) / TO GO WITH: China-luxury-retail-economy-consumption, FOCUS by Mary YANG and Agatha CANTRILL in Shanghai