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.
    Jing Daily

    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 8, 2013.#

    Shenzhen's new stock exchange building, designed by Rem Koolhaas' architecture firm.


    Sotheby's sets yet another high-price record in Hong Kong.#

    This time, a Ming dynasty bronze Buddha brought in $30 million, after previous records for contemporary Chinese art and white diamonds. (Blouin ArtInfo)

    Meanwhile, competitor China Guardian brought in HK$510m (US$66m) in Chinese art and ceramics this weekend.#

    The auction house is now the fourth largest in the world, after Sotheby's, Christie's, and Beijing Poly. (FT)

    Stunning (but not surprising) fact: two percent of China's public consumes one-third of world's luxury goods.#

    "AT Kearney, a Shanghai management consulting company, said that China accounts for more than 30% of global luxury sales." (Want China Times)

    Party cadre in Chinese village fired after son marries in three-day, $260,000 wedding.#

    Hope it was a good party, at least. (AP)

    Beverly Hills mega-home sales heat up thanks to Chinese buyers.#

    International customers are looking for "trophy purchases" on the coast. (CNBC)

    Shenzhen's Rem Koolhaas-designed stock exchange opens today.#

    It's not just the Shanghai free-trade zone that Hong Kong may want to watch out for: Shenzhen's Special Economic Zone "has its eye on its southern Chinese neighbor." (China Real Time)

    China shares boosted by holiday spending.#

    It looks like Chinese consumers truly were in the holiday spirit. (Reuters)

    Packed Chinese tourist sites must spur paid-leave reform, says CCTV.#

    They're just figuring this out now? (CCTV)

    China gold imports from Hong Kong fall.#

    The shipment numbers declined in August "after some Chinese banks used up import quotas and as buyers became wary of rapid price gains." (Bloomberg)

    Will China's GDP growth "prove doubters wrong"?#

    Many think so: "Not long ago analysts were pondering whether China could meet its 7.5% growth target for the year. Now, after a series of happy surprises on the economic front, the question is how far third quarter growth will exceed that goal." (China Real Time)

    — CULTURE —#

    Andy Lau and the producer of Crouching Tiger, Hidden Dragon are working together on a 3-D gang thriller.#

    Firestorm will be released in December, backed by the famous Hong Kong actor and tycoon Bill Kong. (ECNS)

    — FASHION —#

    China Golden Week retail sales did well.#

    A sign of a rebound from the slowdown? (WWD)

    — LIFESTYLE —#

    Aston Martin scraps Cygnet after low sales.#

    The company's sales stand in "stark contrast" to those of competitor Bentley in China. The brand is likely happy that the last James Bond film was shown in China, at least. (Reuters)

    Hong Kong cruise company Genting Hong Kong Ltd. enters $960 million contract for cruise ship.#

    The company's likely to gain some business from Chinese travelers who don't want to take cruises with the company that was stranded in South Korea. (Bloomberg)

    Australia set for 50 percent wine import boost in China.#

    Both Chile and Australia have the advantage of lower tariffs, giving them an edge in competing with wine exports from other countries. (The Drinks Business)

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