Shanghai relies on renowned global artists to attract tourist expenditure. Organizers claim that a recent art festival that lasted a month brought in 20,000 foreign visitors, bolstering the authorities' belief in their approach.

Shanghai has warmly welcomed top-tier symphonies, vocalists, dancers, and actors, with the conviction that sophisticated performances can efficiently boost tourism and expenditure during a downturn in retail sales.

"She mentioned that an abundance of foreign visitors have journeyed to Shanghai in the recent weeks, drawn by the allure of high-quality performers. The promising statistics have strengthened our conviction to bring more international artists to the city moving forward."

The hub, a division within the Shanghai Culture and Tourism Administration, was in charge of the month-long arts festival, which concluded on Sunday.

Approximately 1,600 performances took place throughout the festival, attracting around 20,000 international visitors to Shanghai, which made up about 8% of the total crowd. The preliminary data from the event's coordinator showed that 24% of the festival-goers were from different regions of the mainland.

Around 60% of the performances were by international artists, and over 90% of these artists were making their debut in Shanghai.

The events of the festival, such as discussions, workshops, and displays, attracted over 10 million attendees, as reported.

Competing art dealers Christie's and Sotheby's unveil their extravagant new showrooms in Hong Kong. The luxurious upgrades to the auction houses demonstrate their intention to transform their business operations.

Sotheby's selected a two-level, 24,000 square foot area in the Landmark Chater structure owned by Hongkong Land in Central for its renewed centerpiece. It offers an array of engaging activities and exhibits comparable to those in museums. The main level will be the venue for exhibitions, performances, and auctions all year round, whereas the upper level will deliver a meticulously organized shopping experience for experienced purchasers.

Covering an area of 50,000 square feet from the sixth floor to the ninth, Christie's new location enables it to host a wide range of art auctions and events. It caters to international collectors and various others, providing galleries, auction rooms, client-specific areas, and office spaces.

The upgraded, stylish interiors of the auction houses mirror their ambition to modify their business operations, facilitating a greater number of events.

"In the past, art galleries and houses typically rented hotel spaces or exhibition centers for their auctions or displays," stated Poon Kin-pong, the senior director of project and development services at JLL in Hong Kong. "But now, they favor conducting these events in their own workspaces. This change enables them to organize auctions and exhibits more consistently and on a regular basis."

Poon stated that these companies prioritize the quality of a structure and its management services. He added that handling more business internally provides them with more adaptability in tailoring the appearance and atmosphere of their spaces.

EV Evaluation: Geely's Galaxy E5 offers great value and is convenient to use, apart from its playful AI

The SUV stands out with its stylish design and comprehensive features, making it a reliable choice, even though there were some issues related to distance with the test car and minor irritations.

"The Geely Galaxy E5's AI assistant softly stated, "You were just in my dream," as I climbed into the car one early morning.

In China's battle for electric vehicle (EV) consumers, the AI assistants are becoming more personalized.

Unexpected admission aside, I found the E5 and its AI assistant to be quite user-friendly during a recent day-long trial, although there were some worries about the driving range that came up.

From the outside, the 4.6-meter, five-passenger SUV definitely looks sleek, although somewhat standard. It boasts typical design elements of a Chinese electric vehicle, like the covered front end, concealed door handles, and rear lights that stretch across the car's width. It will be marketed to foreign markets simply as the Geely EX5. Right from the start, it was created with international markets in mind, with versions for right-hand-drive reportedly being tested at the same time.

Oppo reintroduces high-end Find X smartphones to international markets amidst sluggish domestic growth. This Chinese Android phone manufacturer is revitalizing its efforts in the luxury sector in Southeast Asia and Western Europe.

In the second round of Hong Kong versus Trump, international business leaders are identifying fresh prospects and familiar challenges. Howard Marks from Oaktree Capital suggests that people are hesitant to invest significant amounts of money in a nation that is embroiled in geopolitical conflicts.

China sees Hong Kong's financial sector as a symbol of wealth, having helped the city recover from social turmoil in June 2020. This week, Beijing showed its support for this objective with strong endorsements at a financial gathering attended by the heads of international banks and wealth managers.

Are global investors also feeling optimistic?

The relevance of this issue has been heightened as the US prepares to inaugurate President-elect Donald Trump in January. His economic strategies are expected to disrupt international markets, as indicated by his campaign orations. Hong Kong, which found itself at the center of US-China disputes during his initial term, ought to brace itself for a similar situation, as per widespread forecasts.

Local and global funds, along with private banks in the city, are managing HK$32 trillion (US$4.1 trillion) worth of assets, based on government statistics. However, the actual value at risk is likely much greater, considering the trillions of dollars circulating in the Asia-Pacific region. These funds are looking to capitalize on the possible gains in the capital markets within and beyond the city's borders.

"Individuals are hesitant to pour a significant amount of capital into a nation that is embroiled in international conflicts," stated co-chairman Howard Marks, whose firm located in Los Angeles oversees $205 billion in assets. "China is lagging behind other economies. It's not a favored market. Nonetheless, the most remarkable bargains are typically discovered in disregarded markets."

Macroscope | Is there a newfound earnestness in governments towards climate finance?

Globally, we are yet to see an institution that can mandate financial obligations, but there's an emerging awareness among policymakers about the magnitude of the issue.

This approach might eventually be the sole method to garner the necessary financial resources. For instance, among free-market economies, the UK stands out with a strategy to channel state pension funds into capital investments that incorporate environmental projects.

Summary | Major EV players at a crucial juncture, BYD set to surpass Volkswagen with an annual production of 10 million units: 6 must-read articles on China's EV market

The critical situation confronting companies such as Nio, Xpeng, Geely's Zeekr and Leapmotor, among others: a selection of our recent articles on the Chinese EV sector.

1. Chinese electric vehicle producers such as Nio, Xpeng, Geely’s Zeekr, and Leapmotor are at a critical crossroads due to overproduction and tariff issues. The electric vehicle industry in China is at a pivotal point with unprofitable companies being compelled to reduce expenses and introduce new models to stay afloat in an extremely competitive market. Market analysts forecast that only companies that can support themselves will last as the market becomes saturated and tariff complications increase.

2. Brazil embraces investments in new energy vehicles from China; chief diplomat extends an invitation to Beijing amidst the worldwide chaos in the EV sector

The leading Brazilian envoy in Hong Kong has announced that his nation is open to increased investment from Beijing in the fast-growing and profitable EV industry. Despite the swift actions taken by the United States and European Union to curb China's electric vehicle sector through tariffs and trade restrictions, Brazil has no plans to do the same.

3. BYD set to overtake Volkswagen as China's leading automaker due to electric vehicle surge, outdoing the German company in the initial 10 months of 2024

BYD is on the brink of overtaking Volkswagen to become China's leading car manufacturer in 2024, propelled by a spike in electric vehicle sales, which are anticipated to exceed 4 million units this year. The company, based in Shenzhen, has already outperformed Volkswagen's joint venture branches in the first 10 months, showcasing its supremacy in the swiftly expanding electric vehicle sector.

Summary | At a crucial juncture, EV leaders such as Nio, Xpeng, Geely's Zeekr, and Leapmotor face significant challenges; BYD set to surpass Volkswagen with annual production of 10 million vehicles: 6 noteworthy articles on China's EV market.

A pivotal moment for companies like Nio, Xpeng, Geely’s Zeekr, and Leapmotor among others, here are some of our most recent articles on the Chinese electric vehicle sector.

1. Chinese electric vehicle producers Nio, Xpeng, Zeekr from Geely and Leapmotor are at a pivotal point, grappling with surplus production and tariff issues. The companies in China's EV market are under pressure to reduce their expenses and introduce new products to stay afloat in an intensely competitive landscape. Analysts foresee that only companies with self-sustenance will withstand these pressures as the market becomes more saturated and tariff troubles rise.

2. Brazil is open to Chinese investments in new energy vehicles; chief diplomat invites Beijing despite worldwide chaos in the EV industry

Brazil's leading diplomatic representative in Hong Kong expressed that his nation is ready to accept additional funding from Beijing in the rapidly growing and profitable electric vehicle sector. While the US and the European Union have been swift to impose tariffs and trade limitations on China's electric vehicle industry, Brazil has chosen not to do the same.

3. BYD set to overtake Volkswagen as the leading automobile manufacturer in China due to the EV surge, with higher sales than the German company in the initial 10 months of 2024

BYD is on the brink of eclipsing Volkswagen as the premier car manufacturer in China in 2024, propelled by a sharp increase in electric vehicle sales, anticipated to surpass 4 million units this year. The company, based in Shenzhen, has already outperformed the joint-venture units of Volkswagen in the first 10 months, showcasing its supremacy in the rapidly expanding electric vehicle industry.

Buyers quickly purchase apartments at Wang On's project at 101 King's Road due to a resurgence in the market. Situated at 101 King's Road, close to the Fortress Hill MTR station, the development provides apartments with one to three bedrooms, ranging in size from 244 square feet to 434 square feet.

A new residential development by Wang On Properties in Hong Kong's Eastern district attracted a swarm of potential buyers on Saturday, demonstrating revived interest in the city's property market, encouraged by the government's stimulus initiatives.

By 3:30 in the afternoon, agents reported that 98 out of the 157 available units at 101 King's Road – a housing development featuring a residential tower, a business platform, and open-air commercial space – had been purchased.

"The cost of apartments at 101 King's Road is fairly appealing," stated Sammy Po Siu-ming, the head of the residential division for Midland Realty in Hong Kong and Macau.

The project is popular among many long-term investors due to its diverse range of unit options and its proximity to the MTR. He further mentioned that nearly 40 per cent of the potential homeowners who arrived on Saturday were investors.

The project, situated at 101 King's Road in North Point close to the Fortress Hill MTR station, provides apartments ranging from one to three bedrooms with sizes between 244 and 434 square feet.

The cost has been established in the range of HK$4.88 million to HK$11.87 million, which translates to HK$18,626 to HK$27,357 per square foot.

Commentary | Four measures China could implement to counter Trump's tariffs

As the US prepares to intensify the trade conflict, it's crucial for China to enhance its self-reliance and broaden its alternatives outside of the Western sphere.

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Trump returns: what does the future hold for China, Asia, and the globe? | A Discussion Post with Yonden Lhatoo

Viewpoint | China's 4 strategies to combat Trump's tariffs

As the US is ready to heighten the trade conflict, China needs to concentrate on enhancing its self-reliance and expanding its alternatives beyond the Western world.

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Trump returns: what does the future hold for China, Asia, and the globe? | Conversation Column with Yonden Lhatoo

Chinese biotechnology companies are preparing for a potential decrease in profits due to tariffs imposed by Trump, along with a US funding bill. Analysts suggest that initiatives to increase the sale of premium products in China and markets outside of the US could help mitigate the impact.

Analysts indicate that the income of Chinese biotechnology companies in the US, which includes manufacturers of medical equipment, may be at risk due to the incoming Trump administration's intentions to raise tariffs on Chinese goods. Additionally, a proposed law that aims to restrict sourcing of Chinese research and production services funded by the government could further threaten these profits.

Nonetheless, the endeavors of Chinese firms to broaden their product development and sales of premium products within China and foreign markets will soften the impact, they stated.

The incoming President, Donald Trump, has suggested imposing tariffs ranging from 60 to 100 percent on goods imported from China.

"Service providers and manufacturers of devices are expected to face the biggest impact," stated Yurou Zheng, an equity analyst at Morningstar. "A lot of Chinese medical device producers have been focusing on expanding into developing markets…partly due to the fact that the U.S market is already highly competitive and well-established."

Chinese manufacturers of medical equipment, who have a strong presence in the US – the biggest global market for these items, have been dealing with a 25% tariff since July 2018. This was a result of the trade war instigated by the former Trump administration and Beijing. The current Biden administration has decided to maintain this tariff.

Increased production expenses have impacted Chinese gadget manufacturers, compelling them to swiftly advance in the value chain to stay competitive, according to Grace Wang, a partner at L.E.K. Consulting based in Shanghai who specialises in the medical technology industry.