Week In Review: June 9-13, 2014

In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of June 9-13, 2014. Why China’s Super Rich Are Flocking Abroad In Record Numbers A report published on June 6 by Hurun Report and immigration consultancy Visas Consulting Group on the emigration habits of Chinese high-net-worth-individuals (HNWIs) finds that a growing number of them are taking advantage of investment visa programs to escape serious problems that the majority of China’s population has no choice but to deal with. Can China Fill Its Empty Shopping Malls? Developers across China are building over 800 mixed-use shopping complexes spanning 300 million square meters, but they’re becoming harder to fill as brands have slowed down expansion plans. This is causing some experts to think the shopping mall construction boom in China is a bubble waiting to burst as developers will struggle to find tenants to occupy their storefronts. China Overtakes Japan For Second Place On Global Millionaire List Measuring the true number of millionaires in China can be a tricky business, but a new report by Boston Consulting Group (BCG) asserts that China has now surpassed Japan to reach second place on the list of the countries with the most millionaires in the world. Chinese Travelers Top Los Angeles' Tourist Market Los Angeles may have seen a quadrupling of its Chinese tourist numbers in the last four years, but it is not going to rest on its laurels. According to a recent report from southern Californian economic development organization Los Angeles Economic Development Corporation (LAECD), Chinese tourists have become the city’s largest tourism market, and the influx will only grow in the coming years. China’s Wealthy Can Now Book A Space Vacation On Taobao After recently making its foray into the world of fine art, Alibaba’s e-commerce site Taobao has another unique sale available for rich Chinese online shoppers: a trip into outer space. Orders open on June 12 to book a trip with the Dutch Space Expedition Corp, which has chosen Taobao as the exclusive broker for its business in China. Trips start at 599,999 yuan ($96,000) for the Pioneer Astronaut program, which will allow travelers to fly 61 km high on a Lynx Mark I expected to start flying as early as 2015. They can also sign up for the “Founder Astronaut” trip for 1.39 million yuan ($221,760) or the “Future Astronaut” journey for 629,999 yuan ($100,800), which will entail a ride on a Lynx Mark II that will travel 103 km high.

Week In Review: June 9-13, 2014

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Published June 13, 2014

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Week In Review: June 9-13, 2014