Hsieh Su-wei (L) of Taiwan and Peng Shuai of China (R) show off their trophies for the women’s doubles final at the Wimbledon Championships in London on July 6.
Welcome to the inaugural installment of Jing Daily's China Luxury Brief: your weekday source for the day's top news on the business of luxury and culture in China, all in one place. Check out today's stories below:
Apparently, "a Chinese wine maker in Qingdao" has offered Taiwanese Wimbledon champion Hsieh Su-wei a "hard-to-resist NT$50 million (US$1.6 million) per year sponsorship—nearly 36 times more than what she currently receives from her Taiwanese corporate sponsors each year," but there's just one small catch—she has to become a Chinese citizen.
Another day, another major international Chinese real estate purchase. Ping An Insurance has bought the Lloyd’s Building in London for £260 million.
As a result of China's recent gold-buying frenzy, Chow Tai Fook "registered gains of 45 percent in its Mainland China stores and 85 percent in its Hong Kong and Macau stores," in the first quarter, according to Women's Wear Daily.
China bulls are toning down their GDP growth predictions.
High prices are causing Chinese wine merchants to look beyond Bordeaux.
The Wall Street Journal reports that after an "informal investigation" into Wynn Resorts' pledge to donate $135 million to a university in Macau, the Securities and Exchange Commission has stated it will not recommend civil enforcement action against the company and has closed the case. Now, the question is how anyone going to college in Macau manages to get any studying done.
China is among the top international performers for Marks & Spencer in the first quarter, which saw an 11.6 percent rise in international sales and 3.6 percent rise in overall sales.