“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
Chinese Firms, Sovereign Wealth Fund Taking Advantage Of More Affordable Investments Overseas In Wake Of Economic Slowdown
Graphic by Erik Bethel
Chinese investment overseas has been one of the major news developments of the last year. Although Chinese outbound investment is nothing new, particularly after the country joined the WTO in 2001, falling asset values abroad — along with a gradually strengthening yuan — have made overseas investment a major priority for the government (and its state-owned enterprises) as well as private Chinese companies.
If a recent article by China’s Peoples’ Daily is, indeed, true, it looks like outbound investments, at nearly US$150 billion, nearly triple last year’s amount of US$52 billion, will continue the dramatic upward trend we’ve seen them follow over the last 5 or 6 years.
As Erik Bethel (an excellent source on investing in China and Latin America) writes in Seeking Alpha, the People’s Daily article highlights some quotes by Fan Chunyong, the standing director of China Industrial Overseas Development and Planning Association, in which he says that the sheer volume of year’s outbound investments by China — which are, at nearly US $150 billion, for the first time higher than inbound investments — indicate that China is already making a shift from a “manufacturer” to a “capital exporter.”
Posted in Art, auction, Business, China, Economics, Economy, Investment
Tagged assets, China, chinese, erik bethel, FDI, foreign direct investment, Investment, outbound, overseas, peoples' daily, seeking alpha, sino-latin capital, WTO
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
Investors Looking To Profit From China’ Economic Growth Need Creativity, Cultural Insight, Curiosity
Knowing when to invest in China, and what to invest in, takes creativity, keen worldview, and a knowledge of Chinese culture and trends. © Wang Guangyi
Many foreign investors looking to get involved with investment in China look at trends described by (primarily) western commentators or businesspeople, who generally describe trends over the last 10 years along with their strategies for making money in the Mainland market. While former success can provide good insight into the particularities of Chinese business, there is no indication that past performance will correlate with future payoffs. To see where future opportunities will lie in China, we should, instead, look at what the Chinese are buying, and how they’re investing. It is, after all, their country, and who understands it better than them?
Posted in Art, Business, China, Chinese Art, Culture, Economy, Investment
Tagged China, foreign direct investment, Investment, jim rogers, leisure, nationalism, private equity, trends, wang guangyi