China's Youngest Female Billionaire Zhang Zetian Appointed to Board of JD Finance

    Today in China, people are buzzing about Zhang Zetian being named to the board of JD Finance and Hong Kong streetwear icons battling on Instagram.
    Jing Daily
    Ruonan ZhengAuthor
      Published   in Finance

    Wife of JD Founder Zhang Zetian Appointed to Board of JD Finance#

    JD Finance updated its business license on July 18, and CEO Liu Qiangdong’s wife, Zhang Zetian, was named to the board, according to Chinese news site Sohu. Sohu published the record of the change of JD's license, which is not publicly available in China but did not disclose how it got the information. A search on the website for the Chinese National Enterprise Credit Information Publicity System confirmed that Zhang Zetian is now on the board of JD Finance. While this document did not give information as to when Zetian was appointed, it said that its business license was last updated on July 18.

    JD sent out a press release on August 14 providing information about its second quarter earnings and other recent developments. In that release, a reorganization of JD Finance was listed as a recent development. "As of June 30, 2017, JD Finance has been deconsolidated from as a result of the reorganization," the report stated, "principal terms of which were previously announced."

    Named the youngest female billionaire in China, this 24-year-old has made 6 investments across various industries since 2014, including tech company Uber and Australian baby food company Bubs. Zhang has frequently been spotted in training with top investment groups in China like ZhenFund and Sequoia investment. When Zhang was only a senior in college in 2014, Liu Qiangdong spent 10 million yuan (1.5 million) to help her set up her first company “Jiang Su Zhang Zetian Cultural Development Co., Ltd.” Based on the registration information, the company’s business scope includes investment in the cultural industry, television production, and investment consulting. Since 2016, JD has invested in over 26 companies. This billionaire couple was dubbed the Mr. & Mrs.Smith of capital investment.

    Weibo comments: "I am still saving the money for investment, only wish I can marry to another Liu Qiangdong."

    Bomoda report
    Bomoda report

    People reacted surprisingly negatively to this ranking of Chinese celebrities#

    Recently we published an article that ranks Chinese celebrity by commercial value, when the story was published in translation on the Chinese news site Sohu Fashion, within 24 hours, it attracted more than 1103 comments. Interestingly, even though the report is generated from social media posts from Chinese online users, many of them reacted negatively, refuting the celebrities’ commercial value, saying they are “bubbles made of fame.” Two very influential celebrities, female singer Li Yuchun and little fresh meat Luhan were attacked the most because of their androgynous look. “Men look like women," one reader remarked. "Women look like men. They have completely shifted how this country judges beauty.”

    Chinese streetwear fashion icon Edison Chen. Photo: Edison Chen/Weibo
    Chinese streetwear fashion icon Edison Chen. Photo: Edison Chen/Weibo

    Hong Kong Streetwear Fashion Icons Take Copyright Claims to Instagram#

    An Instagram war between two streetwear fashion icons sparked heated discussion among China's online community. It all started with a picture posted on designer Godfrey Kwan's personal Instagram: a denim jacket made from Shawn Yue’s brand Madness. The founder of streetwear fashion label Clot, the rapper Edison Chen, who is also known to be very outspoken on social media, immediately left several comments in capital letters, "Sadness," and “Feel sorry for u bro but everyone need to make a living." In response, Yu posted a picture with a quote from Frank Sinatra that reads, “The best revenge is massive success.”

    Both celebrities started their careers as actors and developed a friendship while working on the blockbuster movie Infernal Affairs. later, they launched their own labels. Yue’s brand was criticized for copying Japanese menswear brand Visvim and streetwear fashion label Supreme, though according to Global Times, benefiting from lower pricing and mainstream looking design, Yue’s label achieved commercial success.

    Weibo comments: "Edison Chen set the trend, whereas Shawn Yue follows after."

    Beijing Ranked the 8th Cheapest City for Cab Fare, Globally#

    Beijing ranked 8th on the "2017 Taxi Price Index," which ranked cities globally by the lowest rates charged per kilometer for cab fare. The rate in Beijing is 2.3 yuan (0.34) per kilometer. The list organizers, the British used car company Carspring, surveyed 80 popular tourist cities around the world, taking into account the average price of traveling from the city center to the airport, the starting price of the cab fair and the waiting time. Taxis in Egypt's capital Cairo were the cheapest, at only 0.7 yuan (0.1) per kilometer.Zurich, Switzerland was the most expensive, at almost 50 times Cairo’s taxi fare, costing 35 yuan (5.24) per kilometer.

    Correction: August 21, 2017: An earlier version of this story stated incorrectly that Zhang Zetian had been appointed chairman of JD Finance. She has been appointed to the board of JD Finance.

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