US tech giant Apple has taken over the number one position as most popular gift from designer good maker Hermes, according the the newest Hurun luxury report. Travel is the main driving force, says Hurun founder Rupert Hoogewerf as Chinese buy 7 out of 10 luxury products overseas, according to Reuters.
Category Archives: corruption
The reforms of president Xi Jinping are gathering steam, writes political analyst Arthur Kroeber for the Brookings Institute. Xi´s struggle goes beyond just consolidating power, and is more about governance than economics, he argues.
President Xi Jinping anti-corruption drive has opened a new front as land sales by local governments are surveyed by the central government, notes financial analyst Sara Hsu in TripleCrisis, and she applauds the move. Much of the social unrest in the past years has been caused by those transaction, where citizens often lost from greedy officials.
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.
In July 2014 China banned government officials and SOE-executives from joining high-fee business schools to avoid colluding between officials and private entrepreneurs. WSJ wealth editor Wei Gu assesses the damage for the schools with Robert Yu of GMAC (in charge of GMAT) and discusses how business school can adjust their strategy.
Diamond sales in China have gone up 14% last year, while all other luxury goods suffered from the ongoing anti-corruption campaign. WSJ´s Wei Gu analyzes with De Beers CEO Stephen Lussier, why diamonds keep on doing so well.
Spending might be down, under the pressure of an ongoing anti-corruption drive, but the number of super-rich in China is going up, according to Rupert Hoogewerf, founder of the Hurun China rich list at AFP. Beijing is still leading before Shanghai and Guangdong.
Anti-trust actions, anti-corruption drives and safety issues have made corporate life for foreign firms in China tougher than 10, 15 years ago. Whether they will actually leave China in larger numbers depends on how the costs of doing business develop, writes financial analyst Sara Hsu in the Diplomat.
Officially China bans its citizens from taking their money abroad, but its financial borders have been notorious leaky. That might be changing, and cause huge ripples in the global financial world, writes WSJ´s wealth editor Wei Gu in Nasdaq.com.
China´s central government tries to shift its economy from investment-driven to a consumer-drive one. While the effort seems to have effect, financial analyst Sara Hsu points at a few bears at this road in the Diplomat. Will the consumers keep on spending more? It´s in the hand of the government itself.