Council Hoping Government Stimulus Measures Will Spur Consumption In Notoriously Frugal Rural Areas
China is one of the world's top gold markets, owing to its growing middle-class consumption and reliance on gold as a traditional hedge
Shanghai Daily reports today that the World Gold Council has started a major sales drive in rural China, banking on indications that the country’s second- and third-tier cities have more sales potential than their first-tier counterparts in terms of gold consumption. This sales push follows similar drives by antiques, visual arts, shopping center and luxury car companies to attract customers in China’s interior — where any semblance of “luxury fatigue” has yet to sink in and the middle class is seeing gradual growth.
As one of China’s traditional hedges, the World Gold Council is banking on gold’s allure to buyers in remote areas both for its value as well as its cultural resonance.
“Rural areas showed better-than-expected demand for gold in the first half in China,” said Gerry Chen, business development manager China of World Gold Council.
China is the only country in the world where gold jewelry demand has risen in the aftermath of the world financial crisis, the council said. Sales in China’s mainland rose 9 percent in the first half, while global demand contracted 8 percent.
Posted in auction, Business, China, Culture, Economy, Investment, Luxury
Tagged China, gold, Investment, Luxury, shanghai, shanghai daily, world gold council
Songzhuang Cultural And Arts Festival, Taking Place From September 20 To October 12, Showcases Artwork From Artistic Districts Around The Country
This year's Songzhuang Cultural and Arts Festival follows the success of last year's exhibitions
Although many art enthusiasts are familiar with Beijing’s larger and more established art districts, such as Dashanzi (大山子) and Caochangdi (草场地), one of the Chinese art world’s best-kept secrets is that the country is home to a number of smaller, more exclusive art communities. Running until October 12, the Songzhuang Cultural and Arts Festival looks to showcase the work of artists from these art colonies — both large and small — and give art lovers a glimpse into the wide range of artwork currently being produced throughout China. Titled “Community! Community!” this festival puts a strong emphasis on the work of artists in distinctly non-mainstream art communities in ten art “zones”:
Artists from ten different art zones in Nanjing, Chengdu, Xi’an, Wuhan and Changsha. were invited to display their artworks. Each art district has a separate location at the festival, featuring recently created artworks by artists representing each community.
Thirteen large-scale art museums and galleries, such as the Songzhuang Art Museum, Sunshine International Art Museum, and the LDX Contemporary Art Center, provide exciting exhibits.
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Tagged ai weiwei, Art, art colony, art district, auction, caochangdi, CCA, CCP, China, contemporary art, contemporary chinese art, dashanzi, festival, october, PRC, songzhuan cultural and arts festival, songzhuang, sotheby's
Watchmaking Iconoclast’s New Location At Jin Bao Street’s Legendale Hotel Features Decor And Accents Shipped From Paris
Richard Mille's flagship store in Beijing brings an air of bygone Europe to Beijing's Jin Bao Street
Richard Mille, the French luxury watch brand,has just opened a flagship store in Beijing’s five-star Legendale Hotel, according to a company press release. Mille’s fixation with high-tech materials and unique alloys inspired by F-1 motorsport and the aerospace industry, has made him one of the most unusual — and fastest-rising — luxury watch forces in the world, and with the flood of spending we’ve seen in China on luxury goods like watches, cars, wine, jewelry and contemporary art, Beijing’s flagship Mille store should attract the city’s free-spending elite in no time.
[T]he flagship occupies 260 square meters of space at this platinum 5-star hotel that represents European elegance and luxury in the heart of this capital of the People’s Republic of China. With such a prime address and grand interiors, Sparkle Roll Group Limited, the exclusive dealer of Richard Mille in PRC, invested HK$45 million in building this flagship in Beijing.
Posted in Art, Business, China, Fashion, Investment, Luxury
Tagged Art, beijing, China, china market, contemporary art, contemporary chinese art, elite, Fashion, flagship, foreign direct investment, france, french, Investment, jewelry, jin bao street, Luxury, luxury watches, mainland china, mille, richard mille, sino-french, watch, wealth, wine