Jing Daily’s China Luxury Brief: December 20, 2013

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 December 20, 2013.


1. China’s Top 5 Architectural Wonders Of 2013

arch“With its ever-growing skylines and architecture with a penchant for the superlative—the biggest, tallest, and most innovative, China’s impressive physical transformation has matched its ambitious economic development during the past two decades.”

[Jing Daily]


2. Chinese Students Major In Luxury Cars

comp_students52__01__630x420“Shelling out $50,000 for a high-end car is viewed as an affordable status symbol compared with back home, where such cars can cost two to three times as much because of hefty import duties.”

[Businessweek]

 


3. China Austerity Campaign Extends Beyond The Grave

“China’s State Council, or cabinet, issued a notice Thursday asking Communist Party members to dial back on the extravagance at funerals and make them more environmentally sustainable.”

[China Real Time]


4. China’s Online Retailers Eye Global Markets

tumblr_inline_mx9vkopCOB1qbgwda-1“When Chinese companies push outside the mainland, Hong Kong and Macau tend to be their first stops, due to the cities’ physical proximity and Chinese-speaking populations. U.S.-listed Vipshop Holdings Ltd., an online discounter of luxury products, is launching a platform for Hong Kong and Macau this month.”

[WSJ]


5. Luxury Retail Looks Fine In 2014 Despite Asia Slowdown Concerns

“China’s luxury goods buyers are much younger than U.S. and EU buyers thus the market will grow faster as a larger age group will be buying for longer.”

[Nasdaq]


6. How to Sell Your House To Chinese Buyers

ht_Chinese_Plaza_Penthouse_ll_131217_16x9_608“The Chinese make up the fastest-growing market of foreign buyers of U.S. homes, according to Juwai.com, a Chinese website for global luxury real estate.”

[ABC]


7. Prada Earnings Trail Estimates as Sales Slow in Asia, Europe 

“Prada joins European luxury-goods makers including LVMH Moet Hennessy Louis Vuitton SA (MC) and Gucci owner Kering SA (KER) in reporting slowing revenue growth as demand wanes in China and the euro strengthens against the Japanese yen.”

[Bloomberg]


8. China’s Newest Status Symbol: Bodyguards

Trainees practice helping their employer escape into a car at a shooting training field managed by the military during the Tianjiao Special Guard/Security Consultant training on the outskirts of Beijing“If you can’t even build private villas on top of apartment towers in China anymore, how can you distinguish yourself from the huddled masses? Former Chinese soldier Chen Yongqing has an answer. Bodyguards.”

[The Atlantic Cities]


9. How-To Book On Making Friends With ‘Tuhao’ Compiled

13121663“The book describes in vivid detail some of the characteristics of tuhao, such as buying luxury goods to show off regardless of whether or not they are in good taste. The book points out that tuhao’s favorite car brands are BMW and Mercedes-Benz, while truly rich people prefer Bentley, Porsche, Bugatti, Ferrari and Lamborghini.”

[Women of China]


10. Chinese Respondents Top Materialism Poll

“Although large parts of the country remain poor, China now has a flourishing middle class and there are few major cities that do not boast a luxury shopping district or two.”

[Sinosphere]

 

 

 

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