This is the 13959th most frequent Russian word.
обувью
Footwear.
In this sentence, 'обувь' is used as a noun referring to footwear in general.
Я купил новую обувь для походов.
I bought new footwear for hiking.
Here, 'обувью' is using the instrumental case, describing the characteristic associated with China.
Китай славится своей дешёвой обувью.
China is known for its inexpensive footwear.
The word 'обуви' is in the genitive case, used when indicating selection or choice of footwear.