{"id":229862,"date":"2023-06-03T12:07:14","date_gmt":"2023-06-03T10:07:14","guid":{"rendered":"https:\/\/www.discoverwalks.com\/blog\/?post_type=news&p=229862"},"modified":"2023-06-03T12:07:14","modified_gmt":"2023-06-03T10:07:14","slug":"china-rolls-out-the-red-carpet-for-corporate-bigwigs-after-elon-musk","status":"publish","type":"news","link":"https:\/\/www.discoverwalks.com\/blog\/news\/china-rolls-out-the-red-carpet-for-corporate-bigwigs-after-elon-musk\/","title":{"rendered":"China Rolls Out The Red Carpet For Corporate Bigwigs After Elon Musk"},"content":{"rendered":"

LVMH CEO Bernard Arnault To Visit China In June<\/h2>\n

As per multiple reports including Reuters, French LVMH chief Bernard Arnault is set for a China visit later in June 2023.<\/p>\n

The visit by Arnault comes after several visits by high-profile corporate leaders in the past few months. The list includes visits by JPMorgan Chase & Co CEO Jamie Dimon and Tesla Inc chief Elon Musk.<\/p>\n

Following three years of COVID disruptions the European luxury goods makers will look to closely track the pace of recovery of the key market.<\/p>\n

Since alleviating lockdowns in December, Chinese officials have been anxious to underline that the country is open for business. Although the recovery has been sporadic, the luxury industry has benefited better than other consumer segments because affluent customers have continued to spend money on the mainland.<\/p>\n

LVMH and Bernard Arnault have particularly benefitted from the rebound that Chinese markets have had n recent months. The company had a 17% surge in first-quarter sales which saw the company\u2019s valuation rise above $500 billion. This made it the first European company to exceed this mark.<\/p>\n

The timing of Arnault’s anticipated visit is also crucial for LVMH’s effort to revive Tiffany in the United States. Tiffany is the largest acquisition made by LVMH to date and as part of a plan to catch up to bigger rival Cartier, the company wants to grow the brand in China.<\/p>\n

Elon Musk\u2019s China Visit<\/h3>\n

On Thursday, Elon Musk\u2019s two-day China visit came to an end as he departed from Shanghai’s Hongqiao airport in his private jet in a plane headed for Austin, Texas, where Tesla is headquartered.<\/p>\n

The entrepreneur received a ton of love from online users who referred to him as “a pioneer,” “Brother Ma,” and “a global idol” during his visit.<\/p>\n

Musk had dinner with Zeng Yuqun, the chairman of the top battery supplier company, Contemporary Amperex Technology Co Ltd (CATL), as well as the foreign, commerce, and industry ministers of China.<\/p>\n

After the meetings with the Chinese officials in Beijing, Musk made his way to Shanghai where the U.S. automaker has a factory. In Shanghai, Musk with the factory staff who as per reports are responsible for over half of Tesla\u2019s output.<\/p>\n

After his return to the States, Musk made his appreciation for the staff very clear in a tweet. The tweet read, \u201cCongratulations to Giga Shanghai & Tesla China SDS teams for their excellent work overcoming many obstacles over many years!!\u201d<\/p>\n

Attached to the statement were two photos of were to photos of clearly excited and amped-up Giga and Tesla teams.<\/p>\n

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      Check Amazon\u2019s best-seller list for the most popular travel accessories. <\/a>We sometimes read this list just to find out what new travel products people are buying.<\/strong><\/p>\n<\/div>\n<\/div>","protected":false},"author":1717,"featured_media":229864,"template":"","categories":[4347],"subject":[4430],"class_list":["post-229862","news","type-news","status-publish","has-post-thumbnail","hentry","category-tech-business","subject-tech-science"],"acf":[],"yoast_head":"\nChina Rolls Out The Red Carpet For Corporate Bigwigs After Elon Musk - Discover Walks Blog<\/title>\n<meta name=\"description\" content=\"China's growing economic influence and market potential have captured the attention of top corporate executives worldwide. 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