The festival would include an elaborate awards ceremony. Mr. Wang, who made an estimated $14 billion fortune as a real estate developer, said that he planned to build eight resort hotels, an enormous shopping mall, a 300-berth yacht club, numerous apartment towers, a seaside restaurant row and even a celebrity wax museum in addition to 20 movie sound sets and the amusement park. HSBC PMI confirms China recovery: Expert Frederic Neumann, MD & Co-Head of Asian Economics Research at HSBC says fine-tuning measures rolled out this past month by China’s government is gaining traction. Famed for its gentle coastal climate and located between Beijing and Shanghai, Qingdao has some of the costliest real estate in China. But as it is everywhere in China, all land is owned by the government, and the support of local officials is needed to obtain land at low cost and get permission to build on it. In a city where even the smallest plots have set off bidding wars, Mr. Wang’s vision seems to have captured the hearts of local leaders. Mr. Wang said that the project would cover 929 acres in a new development on the city’s outskirts. The plan calls for constructing 58 million square feet of buildings on the site, the equivalent of 21 and a half Empire State Buildings.
Furs make up a small fraction of Adams’ collections but are among the priciest items. “The furs are sometimes the most expensive pieces in the collection, so it affects sales dramatically, especially if you sell it at a larger percentage,” he said. “To cut off someone’s big-ticket item makes it hard for a business to survive.” Darren Gold, chairman of the board of the West Hollywood Design District, said the city has worked hard to establish itself as a premier fashion destination, attracting a collection of both established luxury brands and independent designers. The ban, he said, is a slap in the face. “It’s detrimental to our image as a West Coast fashion capital and could prevent fashion houses from choosing West Hollywood,” Gold said. Despite its politically incorrect connotations, fur continues to be a mainstay on the catwalk. International fur sales were at $15.6 billion last year, including $1.3 billion nationally, said Keith Kaplan, executive director of the Fur Information Council of America, a fur industry trade group. The organization, headquartered in West Hollywood, is considering a lawsuit to block the ban. Genevieve Morrill, president and chief executive of the West Hollywood Chamber of Commerce, has received numerous calls in recent days from retailers confused about what they can and cannot sell. The ban applies only to “wearing apparel,” which includes shoes, hats and gloves but not pocketbooks and purses. It includes shearling, a sheepskin or lambskin pelt that has gone through limited shearing.
Hollywood stars turn out for China’s new ‘cinema city’
It should produce “at least a hundred films a year”, according to the Wanda Group, which says it has reached preliminary agreements to ensure that 30 foreign films will be shot there each year. Local film stars such as Zhang Ziyi, Jet Li and Xu Zheng, who have themselves become international brands in their own right, were joined on the red carpet by some of the stars of Hollywood — the institution Wang is looking at rivalling. Kidman, dressed in black trousers and a cream jacket, was joined by fellow A-listers Catherine Zeta-Jones, Ewan McGregor and Christoph Waltz. Cheryl Isaacs, president of the Academy of Motion Picture Arts and Sciences (AMPAS) which organises the annual Oscars, also attended the gala, saying she was “very enthusiastic” that the complex could turn Qingdao into “an international centre of cinema”. Hawk Koch, the former president of AMPAS, told AFP the new development should increase cooperation between Chinese and international film industries. “I don’t think it’s a competition (with the Oscars), there is always room for great talents,” he said. “I think Qingdao festival is a place where there will be more and more interaction” between actors and directors from the two sides of the Pacific, he added. With 1.3 billion increasingly affluent people, China is also a major market for American film makers. Last month Beijing and Hollywood resolved a row over tens of millions of dollars in owed local box office revenues. State-owned China Film Group stopped payment at the beginning of the year, when American studios took issue with a two percent value-added tax that the world’s most populous nation was levying on US films. The Chinese government eventually backed down and agreed to pay the revenues in full. Earlier this month Forbes magazine named Wang Jianlin as China’s richest man with an estimated fortune of $14 billion. Wang’s wealth comes mainly from commercial real estate, which has been less affected by a Chinese government crackdown on surging home prices.