A measure of any Asian businessman is the time he keeps and, far more importantly, the watch he wears to mark it.
A handshake can be soft or firm but will likely soon be followed by a glance to the wrist to see the watch wrapped around it, especially in China.
A heavy slab of gold could be a marker that the person is from an inland city. A more expensive, understated watch could be a sign that they’re from the coastal cities of Shanghai, Shenzhen or Beijing. Continue reading →
China will be the world’s biggest luxury goods market by 2020 as its economy booms and an emerging middle class spends a growing chunk of their cash on high-end items.
Over the next decade, Chinese consumers — including a surging number of billionaires — will account for 44 percent of global spending on goods such as bags, vehicles, watches, shoes and clothes, the report by brokerage CLSA said.
The cream of China’s hotel industry has been selected by a Chinese publication, with the top gongs going to properties in Hong Kong, Shanghai and Hangzhou.
The China Best Design Hotel Awards were awarded last month in Shanghai, with three exclusive properties coming top of the list — The Mira Hong Kong, the Waldorf Astoria Hotel Shanghai and the Four Seasons Hangzhou West Lake.
Presented by The Bund, a Chinese lifestyle magazine, the China Best Design Hotel Awards are chosen by public vote and a panel of international design experts. Continue reading →
The ranks of Asia-Pacific millionaires are likely to continue growing faster than those from developed countries as regional economies led by China and India power ahead, a report said on Tuesday.
The study on high-net-worth individuals (HNWIs) — defined as anyone with investable assets of at least one million US dollars — was issued by Merrill Lynch Global Wealth Management and consultancy firm Capgemini.
“Moving forward, China and India will lead the way in the region with economic expansion and HNWI growth likely to keep outpacing more developed economies,” the Asia-Pacific Wealth Report said. Continue reading →
A rare residential site on Hong Kong’s prestigious Victoria Peak fetched 1.33 billion US dollars at auction Wednesday, boosting one of the world’s most dizzying luxury property markets.
The plot of land at 103 Mount Nicholson Road, which offers a panoramic view of Hong Kong’s world-famous Victoria Harbour, was snapped up by Nan Fung Group after attracting nearly 50 bids at this year’s fourth government land sale.
The 10.4 billion Hong Kong dollar price was 30% higher than the opening bid and at the higher end of the 8.1-11.5 billion dollars forecast by a market-watchers.
With the floor area of the planned property projected at 324,862 square feet (30,181 square metres), the price works out at 32,014 US dollars a square foot. Continue reading →