Jing Daily's China Luxury Brief: August 13, 2013

    Today's top stories include Jaguar's recall, China's assault on foreign automakers, and a penthouse rock structure that will be no more.
    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. Check out today’s stories below:#

    Six years for nothing: after news of an eccentric professor's elaborate rock villa on the top of a Beijing building went viral yesterday, authorities have already ordered it torn down. (Mail Online)


    Xi Jinping's crackdown continues with a ban on extravagant galas.#

    How fun can a gala full of Chinese bureaucrats actually be, anyway? (Reuters)

    FASHION —#

    China's eyes foreign collaborations.#

    "Xiu, founded in 2008, sells products ranging from luxury goods and cosmetics to fast-fashion and designer labels." (WWD)

    British retailer Cath Kidston sees big earnings from China expansion.#

    "New stores in east Asia helped the private-equity backed group hit the £100m annual sales mark for the first time." (FT)

    CULTURE —#

    China's opera scene sees enormous progress.#

    "China is not just the future of opera – it might be the key to its very survival." (Caijing)


    Jaguar Land Rover announces China recall.#

    A week after BMW's recall, Jaguar said it will be recalling 3,196 XF models. (Reuters)

    China continues "price-fixing" accusations against foreign automakers.#

    It turns out that Xinhua op-ed last week certainly was an indicator of things to come: a Chinese automotive association is investigating brands' pricing policies. (Reuters)

    Luxury automakers switch focus to affordable premium vehicles.#

    "More-affordable premium brands like BMW, Audi and Land Rover cater to China's growing middle class, rather than the country's uber-rich." (WSJ)

    BMW's China partner Brilliance sees 52 percent profit gain.#

    Wonder how they feel about the recalls and price-fixing accusations. (Bloomberg)

    The bizarre rock structure on top of a high-rise in Beijing is in its last days.#

    Well, that was fast. After news of an eccentric man's gigantic rock villa on top of a building went viral, the authorities have ordered it torn down. It makes you feel kind of bad until you read about how inconsiderate he was to build the thing. (Washington Post)

    Ireland wants in on the Chinese tourism boom. "#

    While Ireland is a less appealing prospect than other European countries, partially because we are not members of the Schengen group of countries that allow freedom of travel on one visa, there are still opportunities." (Irish Times)

    TECH —#

    Tencent denies report of Singapore IPO for WeChat spin-off.#

    "Citing an unnamed source, the China Daily earlier reported that Hong Kong-listed Tencent opened an office in Singapore." (Reuters)

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