Jing Daily's China Luxury Brief: August 14, 2013

    Handbags as loan collateral, a new twist to China's foreign auto pricing investigation, and a Chinese billionaire's interest in Iceland are among today's stories.
    A sound financial choice, if you're in Hong Kong. (Chanel)

    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:#

    A sound financial choice, if you're in Hong Kong. (Chanel)


    The foreign vehicle pricing drama continues (or ends):#

    Despite reports yesterday that the China Automobile Dealers Association has launched an investigation into foreign auto company pricing in China, an official in the organization said he's heard no such thing. (Bloomberg)

    Chinese property development may stretch to Iceland.#

    Chinese billionaire Huang Nubo is ready to start work on a mountain resort, if Iceland's government will let him. (Bloomberg)

    Women in Asia struggle to gain top management roles.#

    "In Hong Kong, just 2% of CEOs are women." (China Real Time)

    FASHION —#

    Who said a luxury handbag isn't a good investment?#

    Handbags work as loan collateral in Hong Kong, as long as they're made by "Gucci, Chanel, Hermès or Louis Vuitton," and "occasionally" Prada. (WSJ)

    CULTURE —#

    Hollywood prevails in China tax dispute.#

    "A standoff over whether a new value-added tax should be taken out of their cut of box-office receipts has been resolved in the American movie industry's favor." (WSJ)


    Boutique hotels hit the Chinese countryside.#

    The New York Times profiles the Linden Centre hotel in Yunnan. (NYT)

    Wuhan announces plans to become the "next New York",#

    but residents aren't buying it. (Economic Observer)

    An industry we actually want to see slow down:#

    Shark fin soup sales still decreasing. (IBT)

    TECH —#

    Tencent's profits miss estimates.#

    One analyst thinks they spent too much money on hiring celebrities to promote WeChat. (Bloomberg)

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