“Hemingway Hotel” Set For Groundbreaking This Year, With A Distinctively US-Focused Target Consumer
Chinese construction firms have big plans for luxury developments in Cuba, as they foresee huge potential for American tourists in the future
Chinese investment in Cuba has largely flown under the radar in the last several years, mainly because China, unlike the former Soviet Union, has not cornered the market for foreign investment in the island nation. Large-scale construction projects have been undertaken by companies from a number of EU countries as well as Canada, but in the last few years there has been a push by Chinese state-run developers to get more market share as many see a (very) gradual thaw in relations between Cuba and the United States in coming years (and huge potential for the US tourism buck).
This week, Reuters reported that a Cuban-Chinese venture is set to break ground on a new luxury hotel focused primarily on the future American tourists that both countries assume will be eventually arrive, ready to splurge on a five-star long-verboten vacation spot:
State-run Suntine International-Economic Trading Company of China and Cuba’s Cubanacan hotel group are partners in the project, which will be a 600-room luxury hotel, the sources, who asked not to be identified, said over the weekend.
Posted in Business, China, Investment, Luxury
Tagged canada, China, china-cuba relations, cuba, embargo, EU, foreign direct investment, havana, hemingway, hemingway hotel, Investment, tourism
High-End Buyers Unfazed By Government’s Tax Increase, Pushing Luxury Brand To Higher Sales Figures
Porsche debuted its new Panamera at the Shanghai Auto Show this year, indicating its commitment to the Chinese auto market
If Porsche’s top executives were concerned last year when the Chinese government imposed a higher tax on high-end imported European vehicles, they can now breathe a sigh of relief, as sales figures indicate that the tax hike did nothing to slow Porsche’s growth in the mainland — and actually may have had the opposite effect. Among China’s business elite and/or nouveau riche circles, conspicuous consumption has become a way of life, and as such owning a car for which you had to pay upwards of $35,000 in import taxes alone is a good way to flaunt your cash.
As the Globe and Mail points out today, China’s import tax seems to benefit all parties involved — from the car companies who are recording record profits in China, to the government offices collecting mountains of tax revenue, to the conspicuous consumers cruising around Beijing or Shanghai in their pricey sports cars:
Shortly after the Beijing Olympic games last summer, the Chinese government slapped a hefty luxury tax on imported European cars with high-horsepower engines. Klaus Berning, the Porsche executive vice-president of sales and marketing who attended the Frankfurt Auto Show, said the tax added $35,000 (U.S.) or more to the price of a Porsche.
Posted in Automobile, Business, China, Luxury
Tagged canada, China, chinese, germany, globe and mail, import, import tax, porsche, tax, treasury
“Overbrim the East” Exhibition Hits Knysna As O Zhang’s Installation Is Featured In Vancouver
Contemporary Chinese artist Zhang Zhengmin will be among the artists featured in the "Overbrim the East" exhibition in South Africa
Two new Chinese art exhibitions are set to open in two very different parts of the globe, reflecting the growing internationalization of contemporary Chinese art. Knysna, South Africa is preparing for a unique traveling exhibition of Chinese contemporary art cooperatively organized by the South African National Association of Visual Arts, The South African National Lottery and the Chinese Embassy in South Africa. This exhibition features works by Chinese contemporary artists Zhang Zhengmin, Cai Guangbin, Lu Yunhua and Liu Guufu and will continue in Knysna through July 11.
On the other side of the globe, another interesting exhibition of contemporary Chinese art has just opened at the Vancouver Art Museum. This site-specific installation by Chinese artist O Zhang will remain open from July 20 to November 29, 2009, and signals the beginning of the museum’s new initiative of 6-month exhibitions, which will be held on a rotating base in the new “Offsite” art space. As Canadian Architect writes, this exhibition by young Chinese artist O Zhang is a great way to christen Offsite:
Posted in Art, China, Chinese Art, Museums
Tagged africa, cai guangbin, canada, CCA, China, contemporary art, contemporary chinese art, knysna, liu guufu, lu yunhua, o zhang, south africa, vancouver, vancouver art museum, zhang zhengmin
Exhibition of Chinese Performance Art Photography Includes Some of China’s Top Contemporary Artists
Gao Brothers, Twenty People Paid to Hug No. 2, 2001, C-print.
A reminder from Yishu magazine to catch the final weeks of Action – Camera, a retrospective of contemporary Chinese performance art photography. The exhibition is ongoing in Vancouver, at the Univerity of British Columbia’s Morris and Helen Belkin Art Gallery until 19 April.