Wealth creation in China has been amazing in the past decade, says China-rich list founder Rupert Hoogewerf at CNN. He traces now 360 dollar billionaires in China, up from only one. But the real number might be three times that figure, and 15% might actually vampire millionaires, whose wealth would vaporize if they would face day light.
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The anti-corruption campaign by president Xi Jinping has started to hurt the economy, tells business analyst Shaun Rein at CNN. Government officials and billionaires have become so afraid, very few decisions are being made.
The current mayhem at China´s stock market might be some short-term panic selling, but business analyst Shaun Rein points at the systemic risks in China, as a growing number of companies use their shares as collateral, he warns at Bloomberg. For US companies, the current fallout seems less problematic.
The habits of China´s rich change fast, as they look for a a healthier lifestyle, both physical and mental. WSJ wealth editor Wei Gu discusses with Rupert Hoogewerf, founder of the Hurun rich list, the changing trends among China´s wealthy.
Asia as a region and China´s slowling economy caused much anxiety in 2014, and Xi Jinping´s reforms have been clunky at best. But business guru Tom Doctoroff sees hope in the growing confidence China has in its leader Xi Jinping.
After a boycott over the past three years, Japan is back as a favorite in 2015 for Chinese tourists, now relations are more stable, tells business analyst Shaun Rein to WSJ wealth editor Wei Gu. Hong Kong is passe, and domestic travel is in, especially for youngster who do not focus on shopping anymore.
For a short while Alibaba´s chairman Jack Ma looked like he was heading for the position of richest person in China in 2014. But at the end of the year, Wanda chairman Wang Lianlin is contesting that position, as he brings two firms to the Hong Kong stock exchange, tells China Rich List founder Rupert Hoogewerf to WSJ wealth editor Wei Gu.
Building brands needs more than tools, argues Shanghai-based author Tom Doctoroff of Twitter is Not a Strategy: Rediscovering the Art of Brand Marketing at Bloomberg Surveillance. “Brands have to make clear where they stand.” Uber is an example of a company who seems pretty clueless.
Branding needs more than social media tools like Twitter or Wechat, says Shanghai-based author Tom Doctoroff of Twitter is Not a Strategy: Rediscovering the Art of Brand Marketing on his book tour. Virals on social media do not build a brand, nor sell burgers, he says.
With less than a week notice, a connection between Hong Kong and Shanghai stock exchanges will give international investors access to Chinese shares. A game-changer, says Mark Austen of the Asia Securities Industry & Financial Markets Association in a talk with WSJ wealth editor Wei Gu.