Market Updates
China sets 2024 GDP growth target at around 5%, showing confidence in economic recovery
China on March 5th set a growth target of around 5% for its economy in 2024, which exceeds expectations of some international institutions, demonstrating that the country’s top policy makers remain confident in maintaining stable growth in the world’s second-largest economy despite downward pressure both at home and abroad.
Digital
China’s first AI-generated animated series ‘Poems of Timeless Acclaim’ released
“Poems ofTimeless Acclaim”, China’s first AI-generated animated series created by China Media Group (CMG), was officially released on CGTN, representing the latest attempt by CMG to enhance international communication using AI technology.The animation relies on the “CCTV Audio Media Model” and uses AI technology to transform poems from the national unified Chinese language textbooks into beautiful traditional Chinese animations. 
Fashion
Loewe’s ‘Crafted World’ debuts in China
Loewe debuted its inaugural exhibition titled “Crafted World” in Shanghai, which will last until May 5. Curated by creative director Jonathan Anderson, this immersive showcase aims to highlight the brand’s legacy, Spanish craftsmanship, and artisanal excellence.
Tommy Hilfiger announces Fan Chengcheng and Li Qin as brand spokespersons
Tommy Hilfiger has announced Fan Chengcheng (范丞丞) and Li Qin (李沁) as brand spokespersons. Fan Chengcheng is a popular young actor and singer with 28 million followers on Weibo, while Li Qin is a renowned actress with 27 million followers on Weibo.
Etro announces Ren Jialun as global brand spokesperson
Etro has also announced Ren Jialun (任嘉伦) as its global brand spokesperson on March 12. Ren Jialunis a popular actor with 25 million followers on Weibo.
Dior appoints Lin Yun as brand ambassador
On March 8, Dior announced that Lin Yun (林允) became the brand ambassador. Lin is a popular actress with 11.4 million followers on Weibo.
Beauty
Fenty Beauty to enter mainland China in April
Fenty Beauty will enter mainland China’s Sephora on April 1. Fenty Beauty By Rihanna products will be available at Sephora’s offline stores and online channels.
Versace announces Bai Jingting as global fragrance spokesperson
On March 1, Versace announced that Bai Jingting (白敬亭) has been chosen as the global fragrance spokesperson. Bai is a popular actor with 36.5 million followers on Weibo.
Watches & Jewellery
Hublot announced renowned architect Ma Yansong as a brand best friend
On March 18, Hublot announced Ma Yansong (马岩松) as its brand best friend. Ma Yansong is one of the most important voices and representatives of the new generation of architects in China.
New Openings and Launches
Manolo Blahnik opens its first boutique in Hong Kong
Supreme opens its first store in China in Shanghai
Yohji Yamamoto opens a new store in Beijing
Qeelin holds an exclusive high jewelry exhibition in Hangzhou
Bottega Veneta launches exhibitions with Juanzong Bookstore in Qinhuangdao, Beijing, Shanghai,and Xiamen
Louis Vuitton opens LV CLUB exclusive evening bar space at Zhang Garden, Shanghai
Gucci creates “Gucci Ankora Red” offline spaces in Beijing, Shanghai, Chengdu, and Shenzhen
