China News Brief
    July 11, 2013

    Yuan depreciation, Uniqlo's China-driven profits, and soaring retail real estate prices are among today's top stories.

    The Uniqlo in Sanlitun Village, Beijing. (Flickr)

    Market Trends

    China's yuan depreciates.#

    "China's yuan ended lower against the U.S. dollar Thursday on solid demand for the greenback for trade settlement and concern that the yuan will depreciate over time due to the country's stagnating economy," said Wall Street Journal .


    China drives Uniqlo profit jump.#

    Japan's Fast Retailing saw a 22 percent leap in profits  from the beginning of this fiscal year through May, with "large sales gains seen in China, Hong Kong and Taiwan."

    French luxury hair accessories brand breaks retail real estate record.#

    In a sign of Hong Kong's fierce retail real estate competition, French brand Alexandre Zouari Paris has renewed its lease at IFC Mall  for a record-breaking HK$1,200 per square foot.

    "Small fish" in China's real estate market must "swim fast."#

    "For the minnows in China’s property market, swimming near the bottom of the real estate food chain can be dangerous," says China Real Time Report .


    Car ownership limits hard to enforce.#

    Jake Maxwell Watts argues at Quartz that new car ownership restrictions in eight Chinese cities are "doomed to failure " thanks to loopholes in the system.

    Jaguar sales more than double in China.#

    Reuters reports  that "growing demand for luxury cars in China and other emerging markets has helped JLR buck the trend of plant shutdowns and falling production at many European automakers."

    Travel and Leisure

    Greece joins the list of countries stepping up efforts to court China's wealthy.#

    A new immigration program reduces visa restrictions  for high-spending real estate investors.

    Will China produce the next Tiger Woods?#

    The parents of eight-year-old golfer Xie Chengfeng certainly think so, as shown in a profile on today's New York Times .

    Food, Wine, and Spirits

    Organic food is still considered a "luxury" item in China.#

    At 20 RMB a potato , this doesn't come as much of a surprise.