Jing Daily’s China Luxury Brief

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. Look below for the top stories for October 16, 2013.

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Golden throne: A solid gold, gem-encrusted toilet that was on sale at a Hong Kong jewelry store in 2005 for $4.8 million. (Mike Clarke/AFP/Getty Images)

— BUSINESS & FINANCE —

Beijing fights to root out corruption. And jilted mistresses gifted with luxury items paid for by government money are aiding the efforts. (CNN)

Cash-flush Chinese buyers rush to buy Silicon Valley real estate. If there’s an expensive American ZIP code, you know they’ll be there. (Forbes)

UK must “act fast” to simplify Chinese visas. Retailers applaud the government’s announcement to make it easier for Chinese tourists to visit and spend. (Retail Week)

— FILM —

China’s entertainment industry spawns home-grown tycoons. And rising middle-class spending on leisure means it will only get bigger. (Forbes)

IMAX in China exceeds CEO’s expectations. The company got in the Chinese film market early, and is now very happy it did. (China Daily)

— FASHION —

Why the Birkin bag is so expensive. Will we ever see a Birkin-level bag from a Chinese brand? (Bloomberg)

Real demand for luxury goods in China “unclear,” says expert. Shares in European luxury goods slumped after Louis Vuitton reported slower-than-expected third-quarter growth, which is attributed to slowing demand in China. (Reuters)

Children’s brand Little Giraffe hopes to court China’s little emperors with Chinese e-store. “Export Now, a one-stop online platform that helps U.S. companies tap the growing Chinese market, announced the launch of online retail for the popular luxury apparel and accessories brand, Little Giraffe, on China’s Tmall.com business-to-consumer platform.” (Fibre 2 Fashion)

— LIFESTYLE —

China’s Hongqi woos luxury car buyers. It has a long way to go to compete with Audi though. (NYT)

Meet China’s Beverly Hillbillies. Tuhao is a term that gets thrown around on Sina Weibo to describe the crass taste of China’s nouveau riche, who are “the subject of disdain, the butt of jokes, the punching bag for that which is offensive to good taste.” (Foreign Policy)

Slideshow: China’s tuhao style. An extremely entertaining slideshow to accompany the aforementioned article. (Foreign Policy)

A look at China’s avant-garde dining scene. Shanghai’s Ultraviolet, Duddell’s in Hong Kong, Beijing’s Lost Heaven, and more are profiled. (NYT)

Chinese firm hired to convert Dubai’s QE2 into luxury hotel. “The Dubai-based owner of the iconic QE2 cruise liner has announced the appointment of COSCO Shipyard Group to refurbish the ship into a luxury floating hotel.” (Arabian Business)

— TECH —

 An overview of China’s tech and startup ecosystem in 20 slides. Check out which companies are winning over China’s internet users. (Tech in Asia)

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