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 —#
Dalian Wanda looking to buy hotel management companies in the United States.#
Makes sense considering the company's big hotel plans for New York and London. (Bloomberg)
China's number of billionaires declined, and saw their total wealth shrink this year.#
Or maybe they're just hiding it better. (China Real Time)
Li Keqiang says economic recovery not yet solid#
at the World Economic Forum in Dalian. (Bloomberg)
Investors worried about another China cash crunch,#
which, if longer than the one in June, would have an effect on auto sales. (China Real Time)
— FASHION —#
Another Chinese company acquires a Western luxury brand.#
Fosun International Ltd now owns a 35 percent share of sartorial menswear brand Caruso Spa, joining a growing list of Chinese companies buying everything from clothing to yacht companies. (PR Newswire)
— LIFESTYLE —#
Tiger Woods and Rory McIlroy set to bank off Hainan exhibition appearance.#
The pair will be playing at the massive Mission Hills golf complex, highlighting the ever-growing popularity of the sport in China. (Fox)
Thailand's hoteliers hail new luxury tax cut,#
and now have to prepare for an even bigger wave of Chinese tourists. (The Nation)
— TECH —#
The new "cheap" iPhone is actually 4,488 RMB in China.#
Looks like Apple is still luxury and Xiaomi is still the "blood rice" phone. (Quartz)
Meanwhile, China "underwhelmed" by Apple's Beijing event.#
The company's "big press event" for Chinese reporters ended up being a video of its Cupertino iPhone launch, but at least they got to check out the products. (China Real Time)
Sheryl Sandburg's Beijing meeting likely won't un-ban Facebook anytime soon.#
Information on the content of the meeting was sparse, but the State Council Information Office hinted that a main purpose was to discuss how Chinese businesses can use the medium—outside the country, that is. (China Real Time)