Jing Daily's China Luxury Brief: August 16, 2013

    Hong Kong's mainland shopper-led GDP growth, a new Suzuki recall, and the demolition of the now infamous Beijing "mountaintop lair" are among today's top stories.
    Luxury shopping at The Landmark in Hong Kong. (Lip Jin Lee/flickr)

    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:#

    Luxury shopping at The Landmark in Hong Kong. (Lip Jin Lee/flickr)


    Mainland spenders boost Hong Kong's GDP growth.#

    "The Chinese territory of 7 million people has benefited from a wave of spending from mainland Chinese who come to Hong Kong on vacation and to shop." (WSJ)

    How China's credit crisis has impacted one mainland city.#

    In the northwestern Chinese city of Shenmu, while "top luxury clothing stores" were previously "recording as much as $500,000 a day," the credit crisis has created new circumstances: "the leading purveyors of Western fashions are deserted," and "all but one of the city’s car dealerships have failed." (NYT)

    CULTURE —#

    China's leaders call for a pared-back Lunar New Year's gala.#

    Austerity means fewer dancing and singing minorities, apparently. (China Real Time)


    China's campaign against foreign autos rolls on.#

    Today, "China's quality watchdog" announced that Suzuki will be recalling 365,506 vehicles, following similar announcements by BMW and Jaguar in the past two weeks. (Reuters)

    Hundreds of luxury watches stolen from Hong Kong store.#

    "Masked men stole around 240 luxury watches worth a reported $1.29 million from a Hong Kong store in a matter of minutes early on Friday, police said." (AFP)

    Beijing's "mountaintop lair" saga is almost at an end.#

    Demolition has begun on the monstrous structure perched precariously atop a high-rise building in the city, much to residents' delight. (Telegraph)

    TECH —#

    China Mobile ekes out profit growth,#

    despite tough competition. (WSJ)

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