China Archive

Shanghai Fashion Week Ups the Ante

SHANGHAI, China — If anyone understands the challenges of making reform happen in China, it is Lv Xiaolei. But the powerful vice secretary-general of Shanghai Fashion Week — called ‘Madame Lu’ by reverent insiders — is on a mission to transform her event into the premiere designer showcase in China. “We want to not only become the leading fashion week in China, but also a …

Karl Lagerfeld to open hotel chain

Karl Lagerfeld announced on Monday that he plans to launch his own branded hotel chain, with the first to open in the Chinese gambling hub of Macau in 2018. His first hotel is being built with a local partner in the luxury Lisboa Palace Complex in Macau but the Lagerfeld group is “in the process of studying other opportunities to open other properties around the …

The China Edit | ZTO Express Eyes IPO, Alibaba's Payment By Nodding

“ZTO Express Eyes Largest Chinese Company US IPO Since Alibaba” (Reuters)“ZTO’s IPO later this month, which could raise as much as $1.5 billion, is the latest example of a Chinese company seeking to capitalise on its growth prospects to lure Western investors, while also avoiding the red tape associated with launching IPOs in mainland China.” “Alibaba’s New Payment System Lets Virtual Reality Shoppers Pay by …

Ikea Shanghai to elderly, lonely Chinese people: buy something or get out

Turns out that when your giant, tax-dodging global furniture enterprise pitches itself as a kind of flat-pack-on-tap public utility, it gets treated like one. In 2006, it was poor Germans who used their local Ikeas as a day-care and soup-kitchen. A decade later, the pensioners of Shanghai are treating it as a social club, where they can “picnic, nap, and read newspapers” …

BlackRock Increases Stake in World’s Biggest Jewellery Retailer

HONG KONG, China — One of the worst analyst-rated jewellery retailers in Hong Kong has caught the attention of the world’s largest asset manager. BlackRock Inc. increased its stake in Chow Tai Fook Jewellery Group Ltd., and added the stock to its global long/short equity fund in the third quarter, according to data compiled by Bloomberg. European investment firms Gamax Management AG and Robeco Groep NV …

Employment in China’s tech industry

Despite murmurs of tumult and slowdown in the Chinese economy, the fact remains that China’s economic engine has been on a tear — at roughly 6.5 percent or more for the last six years. Much of this growth has been fueled by China’s emergent tech industry, as even in Silicon Valley, China’s BAT companies (Baidu, Alibaba, Tencent) and hot startup scene have become part of …

Amidst Hong Kong Gloom, Joyce Launches Redesign With Theatrical Exhibition

HONG KONG, China — For the past 18 months, retail sales figures in Hong Kong have suffered thanks to a sharp decline in tourism from the mainland and the rising popularity of online shopping, among many other factors. In the first half of the year, retail sales plunged 10.5 percent compared to the previous year — the biggest drop since 1999 — resulting in many …

Chabuduo: China's culture of "it's fine"

Explosive growth and change in China means many things must be built. They are not built well, writes British ex-pat James Palmer. The apartment is five years old. By Chinese standards, it’s far better than the average. Our toilet works, while in many of my friends’ houses, flushing the loo is a hydraulic operation akin to controlling the Nile floods. The sockets do not …

Alibaba's $60 Billion Finance arm Seeks Growth Before IPO Say Sources

SHANGHAI, China — Investors gearing up for the initial public offering of Ant Financial, the $60 billion (£54.26 billion) online finance arm spun off by e-commerce giant Alibaba, will have to wait until at least late 2017 as the business puts growth first, sources say. Sources with knowledge of the plans said Ant Financial, whose anchor business is Alipay, China’s largest online payments service, is …

Alibaba Pictures, Amblin to Co-Produce Films

BEIJING, China — Steven Spielberg’s Amblin Partners and Alibaba Pictures Group Ltd, the film studio unit of Chinese e-commerce giant Alibaba Group Holding Ltd, said on Sunday they will co-produce and finance films for global and Chinese audiences. They will also collaborate on the marketing, distribution and merchandising of Amblin Partner films in China, the companies said in a joint statement. Under the terms of …