Tag: chinese investors

Chinese spent $106B on global luxury products in 2014

Chinese bought 46% of the world’s luxury products in 2014 – 76% of which was purchased overseas, a recent Chinese luxury report reveals.1 In dollar amounts, that was US$106 billion spent by Chinese luxury consumers.1 Simply put, the global luxury industry is becoming more Chinese. After all, Chinese luxury consumption is influencing this industry like no other nationality has before.2 Borderless travel & Chinese … Read More Chinese spent $106B on global luxury products in 2014

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First overseas transport card launched for Chinese Tourists

To make outbound travel more seamless for Chinese tourists, NETS and Alipay launched the first overseas transport card that can be purchased right off Alipay’s mobile wallet, which has 190 million active users across China. Tourists can now buy the Alipay FlashPay cards before flying out of China, the two firms announced in a media. World Tourism Cities Federation data specifies that transport is … Read More First overseas transport card launched for Chinese Tourists

China’s big four banks beat Q1 profit expectations

Buy2Greece.com China’s top four state-owned banks saw first-quarter profits beat expectations despite efforts by the central bank to reduce the lucrative spread between bank depositing and lending rates, Reuters reported. Analysts said Industrial and Commercial Bank of China Agricultural Bank of China, Bank of China and China Construction Bank held interest margins steady by boosting returns from loans amid tight credit conditions. Investors however … Read More China’s big four banks beat Q1 profit expectations