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    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.
    A Taobao promotion for Singles' Day. (Taobao)

    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 November 11, 2013.#

    A Taobao promotion for Singles' Day. (Taobao)

    — BUSINESS & FINANCE —#

    SOHO China's Zhang Xin beats out Brad Pitt for NYC townhouse buy.#

    Not even Pitt can compete with China's top real estate tycoon: Zhang just bought a mansion in the city for $26 million that the American actor was also eyeing. (Mingtiandi)

    A record number of Chinese students came to study in the United States for the 2012-2013 school year.#

    The number saw a significant 21 percent increase, which is likely to go up more in the years to come. (AP)

    Hong Kong's luxury properties "choked" by tightening.#

    The government has been raising down payment requirements in hopes to curb runaway prices, with the luxury sector taking the most "direct hit." (Bloomberg)

    More effort is needed to evict China's trademark "squatters."#

    Tesla is still fighting its imposter as it establishes its new China business. (Global Times)

    — FILM —#

    China part of "new normal" in Hollywood.#

    China "seeped into every conversation" at last week's American Film Market. (Variety)

    — CULTURE —#

    Twisting bridge to be built in Changsha another marvel of China's booming architecture scene.#

    Designed by NEXT Architects, the new structure looks like "a really intense Mario Kart level." (Shanghaiist)

    — FASHION —#

    Watchmakers not marking time despite current lull.#

    "Industry insiders say it is just a matter of time before sales rebound, which they say will happen soon - and that the Chinese will remain the most important customers for the Swiss watchmakers." (ECNS)

    Expert: luxury market's long view looks optimistic.#

    Armando Branchini, deputy chairman of Milan consultancy InterCorporate, and vice chairman of luxury goods association Fondazione Altagamma, said that he expects China's inland cities to be major drivers of growth over the next decades. (WWD)

    China expected to continue to lead the BRICs in future luxury growth.#

    "According to Fflur Roberts, global head of luxury-goods research at Euromonitor, luxury spending in China is 'rising steeply despite a government clampdown on extravagant consumption.'" (WWD)

    Luxury giants tap into mainland market.#

    The flurry of department store openings in China has sights set on long-term profits. (China Daily)

    Under Armour's latest store immerses China in the workout experience.#

    This isn't your average Spandex store: the retail location features a

    "#

    30-foot long tunnel of light" and "a 270-degree panoramic film." (PSFK)

    — LIFESTYLE —#

    Cadillac needs a "decade" to become a top global luxury brand.#

    And China will play a major role as it eventually emerges as the world's top luxury auto market. (Business Insider)

    — TECH —#

    Check out the bargains China's e-tailers offered for Singles' Day.#

    Bigger than Cyber Monday or Black Friday, China's massive e-commerce event has prompted top Tmall and others to go all out. (Jing Daily)

    In a spending frenzy, Chinese e-shoppers obliterate America’s Cyber Monday.#

    Even though it's not quite over yet, Singles' Day emerges once again as the world's top e-commerce event. (Tech in Asia)

    Taobao smashes mobile shopping record, with over $100 million in sales in less than one hour for Singles' Day.#

    "Taobao’s massive influx of mobile shoppers shows how quick the Chinese have been to adapt to mobile trends." (Tech in Asia)

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