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News from around the Greater China region, May 20.
Monday, 20th May 2013
Source : HVS
Hotel, industry and travel news from around Greater China; this week:China's inflation, less government control, Uncle Sam's openand more...

CHINA'S APRIL INFLATION FORECAST TO BE 2.2%

According to China Daily, the Bank of Communications expects the CPI, a main gauge of inflation, to come in at 2.2 percent in April, and inflation to be mild throughout the second quarter. The recent outbreak of bird flu and the incident involving the death of pigs in a river in Shanghai have dampened people's appetite for pork, poultry and eggs, bringing their prices down in April. Meanwhile, a cut in fuel prices was seen in April, bringing down the logistics cost of the economy.

CHINA TO CUT GOVERNMENT INTERVENTION ON ECONOMY

According to China Daily, China's cabinet announced detailed plans on deepening economic reform, fulfilling its pledge to cut government interventions that hinder more robust growth in the world's second-largest economy. In its detailed plan, the government will cancel or delegate power to lower levels concerning 62 items that were previously subject to central government administrative approval, after similar approaches were taken on 71 items last month.

TIANJIN TO OFFER TAX-FREE STORES IN 2013

According to China Daily and the tourism officials of the Tianjin port, cruise passengers in Tianjin municipality will be able to shop at tax-free stores by the end of the year. The policy is one of many being introduced by the coastal city to boost what the government calls the "aero-amphibious" tourism industry - visitors who travel by caravans, passenger liners and helicopters.

HONK KONG INDIGO SET TO OPEN

Hotel Indigo Hong Kong, owned by the Tai Hung Fai Enterprise Co. Ltd., is set to open in the Wan Chai neighborhood in May after five years of planning. The 29-story building is wrapped in a gold dragon motif, functioning as an eco-screen to counteract hot spots and solar gain. The 138 room hotel includes rooftop Skybar and an infinity pool.

HANGZHOU WELCOMES FIRST SAM'S CLUB

According to China Retail News, Sam's Club, the membership store of Wal-Mart, has opened its ninth China outlet with a new site in Hangzhou. Located in Hangzhou's Xixi In-City, the new Sam's Club has an area of over 20,000 square meters. The membership warehouse-style business model of Sam's Club allows Hangzhou people to enjoy quality products, a comfortable and spacious shopping environment, as well as 1,200 free parking spaces. Following the opening of Hangzhou Sam's Club, they plan to soon open another outlet in nearby Suzhou.

NEW WORLD DEVELOPMENT CO. RECEIEVED PERMISSION FOR LISTING

New World Development Co. has received permission from the Hong Kong Stock Exchange to proceed with the separate listing of the spinoff of their local hotels. After the listing, New World Development and its controlling shareholder Chow Tai Fook Enterprises Ltd. will hold a combined stake of more than 50% in the new entity after the planned listing. The spinoff will hold New World's interests in the Grand Hyatt Hong Kong, Renaissance Harbour View Hotel Hong Kong, and Hyatt Regency Hong Kong. New World said it will offer to sell its Hyatt Regency Sha Tin to the new company when it has necessary consents.

www.hvs.com

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