Jing Daily's China Luxury Brief: September 11, 2013

    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:#


    Dalian Wanda looking to buy hotel management companies in the United States.#

    Makes sense considering the company's big hotel plans for New York and London. (Bloomberg)

    China's number of billionaires declined, and saw their total wealth shrink this year.#

    Or maybe they're just hiding it better. (China Real Time)

    Li Keqiang says economic recovery not yet solid#

    at the World Economic Forum in Dalian. (Bloomberg)

    Investors worried about another China cash crunch,#

    which, if longer than the one in June, would have an effect on auto sales. (China Real Time)

    — FASHION —#

    Another Chinese company acquires a Western luxury brand.#

    Fosun International Ltd now owns a 35 percent share of sartorial menswear brand Caruso Spa, joining a growing list of Chinese companies buying everything from clothing to yacht companies. (PR Newswire)

    — LIFESTYLE —#

    Tiger Woods and Rory McIlroy set to bank off Hainan exhibition appearance.#

    The pair will be playing at the massive Mission Hills golf complex, highlighting the ever-growing popularity of the sport in China. (Fox)

    Thailand's hoteliers hail new luxury tax cut,#

    and now have to prepare for an even bigger wave of Chinese tourists. (The Nation)

    — TECH —#

    The new "cheap" iPhone is actually 4,488 RMB in China.#

    Looks like Apple is still luxury and Xiaomi is still the "blood rice" phone. (Quartz)

    Meanwhile, China "underwhelmed" by Apple's Beijing event.#

    The company's "big press event" for Chinese reporters ended up being a video of its Cupertino iPhone launch, but at least they got to check out the products. (China Real Time)

    Sheryl Sandburg's Beijing meeting likely won't un-ban Facebook anytime soon.#

    Information on the content of the meeting was sparse, but the State Council Information Office hinted that a main purpose was to discuss how Chinese businesses can use the medium—outside the country, that is. (China Real Time)

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