Singapore.
Welcome to Jing Daily‘s China Luxury Brief: the day’s top news on the business of luxury and culture in China, all in one place. Check out today’s stories below:
Business and Finance
Chinese investors boost Singapore's wealth management industry.#
"Private bankers say Singapore is also benefiting as rich people from mainland China place funds in Singapore to avoid excessive reliance on Hong Kong, where some see political risk in increasingly close ties with the mainland."
Chinese companies step up their branding efforts.#
"Jason Cieslak, president of Siegel Gale Pacific Rim, agreed that Chinese consumers would like to use Chinese brands if they are good enough, but they are not doing this at the moment."
"Growth inertia should not be underestimated,"#
said a researcher from China's Development Research Center, weighing in on the ongoing discussion of the impacts of China's slowdown.
Fashion
Swatch reports slower, yet better-than-expected sales growth.#
"Over the last six months, Swiss watch exports to China have slowed, in part owing to a recent ban on ads for extravagant gifts in an anti-corruption push," reports AFP .
Check out LVMH's recently opened L'Avenue luxury mall in Shanghai.#
Maosuit takes a visit to the impressive new structure .
Lifestyle
China's luxury car market is a "two-way race between Audi and BMW,"#
but these leaders better watch out because there are seven brands in total vying for luxury buyers' attention.
Will baijiu be the next trendy cocktail drink of choice in the United States?#
After intense efforts by drinks companies such as Diageo to "educate" U.S. restaurants about the mixology benefits of the fiery rice liquor, a restaurant in Chicago is selling a $25 cocktail spiked with Moutai .
Sania Mirza will pair with China’s Jie Zheng for US Open.#
"I am going to try with Jie Zheng. We will take time to get used to each other and we have four weeks before the US Open," she told reporters on her decision to partner with Jie instead of her American Wimbledon partner Lizel Huber.
Tech
Alibaba jumps into the "smart TV" market.#
The e-commerce giant
"has designed a smart television operating system and set-top box to win more users by offering services on a wider spectrum of devices."