On Jan. 14, 2022, the French fashion company SMCP Group held a general meeting of shareholders and voted to dissolve the five-member board of directors, kicking Qiu Yafu, chairman of the board of directors of China’s Shandong Ruyi Technology Group Co., and his daughter Qiu Chenran, off the board, and shattering Qiu Yafu’s dream of…
Chinese Companies Struggling with Their Shady Reverse-Merger Business
China’s Luxury Market Booms While Gap Between Rich and Poor Widens
China’s luxury market is surging at a double-digit rate and is expected to become the world’s largest luxury goods market within three years. Meanwhile, the Gini index (an income distribution marker) has exceeded the warning line of 0.4 set by the United Nations, signaling that the gap between the rich and the poor continues to…
China’s Luxury Market Booms; Gap Between Rich and Poor Widens
China’s luxury market is surging at a double-digit rate and is expected to become the world’s largest luxury goods market within three years. Meanwhile, the Gini index (an income distribution marker) has exceeded the warning line of 0.4 set by the United Nations, signaling that the gap between the rich and the poor continues to…
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