In order to survive in China, luxury brands need to change their strategy to adapt to the shrinking demand in China.No more rapid expansion should be the first principle for luxury brands.
The company that makes Moutai, a staple of lavish Chinese banquets which dates back to the Song Dynasty (960-1279), plans to fight back against the hard times it has endured since the central government's anti-corruption agenda put the nation's favorite liquor in a tough spot.
The entire high-end catering and entertainment sector, especially high-end private clubs, has gone cold because of the central authorities' campaign to curb extravagance and crackdown on corruption.
It's been a sluggish holiday season for Panda Fireworks Co Ltd, one of the leading fireworks producers in China.
The high-end private club Liuyingjiuhao in Hangzhou's West Lake scenic region, East China's Zhejiang province, is closed down, on Jan 22, 2014.
The five-star rating is losing its glamour as the country's ruling party bans consumption in upscale accommodations at public expense.
It might be a good idea to focus attention on presenting a comprehensive state-of-the-art Spring Festival feast for the national audience on CCTV.
Remy Martin, France's second-biggest distiller, sees profits from Chinese New Year drip away due to government's campaign against extravagance.
The regulation of "naked officials" — civil servants whose family members have migrated overseas — has been tightened in the wake of the Party's efforts to fight graft.
China has cut three out of four widely watched Spring Festival galas sponsored by ministries and state media, as the ruling party has stepped up efforts to cut pomp and fight corruption.
The public needs answers to the above questions, too, to believe that parks will never be used by some rich and powerful people for their esoteric interests.
China's armed forces have been told to choose domestic brand cars when procuring military vehicles, according to a circular published on Monday.
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