Hong Kong retail is booming, as mainland shoppers in first-tier cities saw wages going up 12% in 2013, says business analyst Shaun Rein on CNBC. But consumer confidence is still weak, especially middle-class men who are fearing wage stagnation as investments drop.Read More →
China’s millionaires are getting ready to send their kid to boarding school abroad, Hurun Rich list founder Rupert Hoogewerf told an audience of Swiss business people and government official at the pre-launch of his school guide “The Best of Swiss Education” at the Beau Rivage Palace in Lausanne, Switzerland on Tuesday 29 January.Read More →
China’s government is trying to change its economy from export and investment oriented into a consumer nirvana. Unfortunately, writes retail analyst Paul French in Channel4, corruption and inflation hinder that policy greatly. What will the upcoming CCP-congress bring?Read More →
China’s currency the Renminbi is not going to be a global reserve currency soon, and perhaps not in a very long time, writes political science professor Victor Shih (co-authored with Susan Shirk) in Foreign Policy. Read More →
China’s luxury goods market might still be going strong, despite a dip in the country’s growth. But previously popular brands like Burberry are losing traction, tells retail analyst Paul French in the Huffington Post. But there is still hope.Read More →
The wine market in China is still dominated by crazy prices for crazy bottles, but Hurun founder Rupert Hoogewerf expects the madness will phase out, and China will become a mainstream wine drinking nation, he tells The Telegraph.Read More →
The rising anti-Chinese sentiment in Hong Kong hurts the feeling of its mainland visitors, but might hurt Hong Kong where it really hurts: in its retail sales, as the super-wealthy might choose other destinations, says business analyst Shaun Rein in CNBC.Read More →
Celebrity author Zhang Lijia dives on her weblog into the argument between Chinese from Hong Kong and those on the mainland, who have been denouncing each other, calling the mainlanders ‘locusts’, while professor Kong Qingsheng from Peking University called the Hongkongnese ‘running dogs’.Read More →
Spending on luxury products moves in China to the third-tier cities, notes business analyst Shaun Rein in an interview with AFP. Unlike the rich from Shanghai and Beijing, inhabitants of third-tier cities can travel less internationally.Read More →
The Wall Street Journal has more details of the earlier released Hurun report about how China’s rich spend their money while traveling. Tension with France have been forgotten, as Paris has become their most favorite destination. The Hurun report is produced by Rupert Hoogewerf.Read More →
As growing crowds of mainland Chinese visit Taiwan, curious to see how pre-revolutionary China could have looked like, the island could capture a major share of the luxury good purchases, says Shaun Rein in CNBC. Sixty percent of those goods are bought now in Hong Kong or Europe. Shaun Rein isRead More →
Hong Kong: too small via Wikipedia The new-to-built Shanghai Disney park should learn from the mistakes that have been made in the Hong Kong park, says Shaun Rein in Reuters. First, size matters. Shaun Rein, managing director of China Market Research said the problem with the Hong Kong park isRead More →